Manufacturing enabler Capgrid raises $4.87 M led by Hero Group

Gurugram-based CapGrid has raised USD 4.87 million in a pre-Series B funding round led by Hero Enterprise Partner Ventures. The round also saw participation from existing investors Nexus Venture Partners and Anicut Capital, along with other investors including Axilor Ventures and Amit Jain.The transaction involved the issuance of 2,888 compulsorily convertible preference shares (CCPS). The company’s post-money valuation is estimated at about USD 46 million.Founded in 2020 by Dheeraj Kumar Tiwari and Himanshu Singh Raghuvanshi, the company operates an AI-powered platform for the manufacturing sector. It serves industries including automotive, agricultural equipment, earthmoving equipment, aerospace, oil and gas, consumer durables, and electric vehicles.