CapGrid, a B2B cloud manufacturing start-up for precision parts and components, Monday announced that it has raised $7 million in its latest funding round. Separately, Bounce Infinity has secured $20 million in funding from Sequoia, and others.
Nexus leads $7m funding in CapGrid
Gurugram-headquartered CapGrid, a B2B cloud manufacturing startup for precision parts and components, Monday announced that it has raised $7 million in its latest funding round led by Nexus Venture Partners.
The round also saw participation from existing investors Axilor and Anicut Capital. Deepak Jain, partner and head of APAC advanced manufacturing & services, Bain & C0, participated as an angel investor in the round, the startup said in a statement.
CapGrid said it will use the fresh proceeds to deepen its technology infrastructure, talent acquisition and scale up cloud manufacturing with its supply partners.
CapGrid claims that it is currently getting 5,000+ different precision components manufactured through its supplier network of 300+ partners. To be able to cater to manufacturers across the country, the startup partners with warehousing and logistics players in an asset-light model to deliver to the customer’s assembly line.
Bounce Infinity raises $20m
Electric scooter and swappable-battery company Bounce Infinity has raised $20 million (Rs 163 crore) in a funding round from its existing investors including Sequoia Capital, The Economic Times reported.
According to the report, the company plans to launch three vehicles this year. It is also looking to expand in the export market and has already sent shipments to South Africa, Kuwait, South America, Sri Lanka, and Nepal.
Bounce has raised more than $200 million in funding to date. It also counts venture debt firm Innoven Capital, Accel, B Capital, Falcon Edge, Qualcomm, Chirate, Omidyar Network, and Maverick Capital among its list of backers.
Earlier this month, Bounce had laid off about 5% or 40-50 employees across customer support and other segments in a bid to cut costs.