CapGrid's valuation jumps 50% as Hero Enterprise leads $4.87M pre-Series B

CapGrid, a B2B manufacturing startup, has raised Rs 46.28 crore, or $4.87 million, in a pre-Series B funding round led by new investor Hero Enterprise Partner Ventures.

The company's board passed a special resolution to issue 2,888 compulsorily convertible preference shares (CCPS) at an issue price of Rs 1,60,263 per share to raise the fresh capital, according to regulatory filings accessed by Entrackr.

Hero Enterprise Partner Ventures led the round with an investment of Rs 38.30 crore. Axilor Technology Fund and Anicut Capital each put in Rs 3 crore, while Nexus Venture Partners and Amit Jain contributed Rs 1 crore apiece.

As per Entrackr's estimates, CapGrid's post-money valuation surged over 50% to Rs 430 crore ($46 million), compared with its previous Series A round of $5 million led by Anicut Capital in February 2025.

Founded in July 2020 by Dheeraj Kumar Tiwari and Himanshu Singh Raghuvanshi, CapGrid describes itself as an AI-powered platform serving industries including automotive, agricultural equipment, earthmoving equipment, aerospace, oil and gas, consumer durables, and electric vehicles.

According to the filings, the company will use the funds for expansion and growth, as well as to meet its additional capital requirements.

Following the pre-Series B allotment, Nexus Venture Partners remained the largest external shareholder with an 18.08% stake, followed by Anicut Capital at 16.40% and Axilor Ventures at 11.94%. Co-founders Tiwari and Raghuvanshi each hold an 18.63% stake in the company.

CapGrid is yet to file its FY26 financials. Its operating revenue grew 2.1X to Rs 209 crore in FY25 from Rs 99.2 crore in FY24, while its net loss declined marginally to Rs 25.92 crore.

The round comes as investors continue to back manufacturing-focused software and supply chain platforms, and values CapGrid at a premium to its last raise despite the company still reporting losses at the operating level.