Chennai-based venture capital firm Anicut Capital said it has invested Rs 133 crore in TAO Digital Solutions through its private credit fund, GAF-4.
GAF-4 was launched in the current fiscal’s first quarter and is its third private credit fund. It boasts a size of Rs 1,000 crore, with an additional green-shoe option of Rs 500 crore.
What is the purpose of funding?
According to a PTI report, the investment from Anicut Capital would help TAO Digital Solutions acquire TriGeo Technologies to expand its digitization services. Notably, the acquisition would enhance TAO’s service offerings in various technological domains.
What are the offerings of TAO Digital Solutions?
TAO Digital Solutions is an IT services company with a global presence, operating offices in the US, Canada, India, Australia, and Nigeria. The company specializes in offering comprehensive IT solutions and services globally.
Rajkumar Velagapudi, CEO of TAO Digital Solutions, said, “We are extremely delighted with the financing received from Anicut Capital. This will play a pivotal role in elevating our offerings to our customers and help us take the next leap in our journey.”
He emphasized that acquiring TriGeo would enhance their platform by incorporating services like digitization, annotation and labelling, 3D modelling, and digital twinning.
A Jayaseelan, Partner and Chief Credit Officer at Anicut Capital, said, “We are thrilled to be a part of TAO’s growth journey. We strongly believe that TAO is poised to become a market leader soon, propelled by their technological advancements and with the acquisition of TriGeo, TAO has already taken the first step in that direction.”
Anicut Capital has actively funded various thriving industries, with over Rs 220 crores deployed in the last seven months in sectors such as technology, ITeS, electronics manufacturing, and engineering services.
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