B2B cloud manufacturing startup CapGrid, which builds precision parts and components, raised $7 million in Series A led by Nexus Venture Partners where existing investors Anicut Capital and Axilor Ventures also participated.
CapGrid is a cloud manufacturing platform that creates precision parts and components for a variety of industries, including automotive spare parts and electric vehicles (EVs). According to the company’s website, it has created over 5,000 unique parts and serves more than 20 B2B customers while maintaining a network of over 300 suppliers. The startup intends to use the new funds to grow its team, expand its warehousing across major automotive zones, and expand its cloud manufacturing capacity. CapGrid primarily serves original equipment manufacturers (OEMs) and Tier-I suppliers in the automotive industry, the latter of which is a vendor that directly supplies OEMs with parts.
