Anicut Capital invests Rs 60 Cr in BlueBinaries Engineering and Solutions
Chennai-based BlueBinaries plans to invest the money in software defined vehicle and digital mobility technologies and global expansion.
, a multi-asset investment firm, has invested Rs 60 crore in BlueBinaries Engineering and Solutions Private Limited.
Chennai-based BlueBinaries plans to invest the money in software defined vehicle and digital mobility technologies and global expansion, according to a press release.
"The overall automotive electronics and software market is expected to grow to $80 billion by 2030 with an increase in demand for safer vehicles, advanced connectivity, and next-gen mobility solutions accelerating digital adoption across the world," said Dhruv Kapoor, Partner, Anicut Capital.
"With deep industry knowledge and strong engineering capabilities, we believe BlueBinaries is well-positioned to lead the industry with end-to-end mobility offerings," he added.
Established in 2017, BlueBinaries is an engineering and technology services provider in the mobility industry, catering to a diverse customer base in Europe, United Kingdom, United States, and APAC. It focuses on accelerating software defined vehicles (SDV) development through electrical/electronic architecture design and digital technologies.
"This investment from Anicut Capital is a significant milestone for BlueBinaries. It will enable us to build on our existing robust customer base of OEMs and Tier I automotive suppliers across geographies, enhance our SDV and digital capabilities, and continue delivering cutting-edge solutions to meet the evolving demands of the industry," said Kishore LM, Co-founder, President & COO, BlueBinaries.
Anicut Capital is an asset management firm with six funds, managing an AUM of Rs 3,000 crore. Its portfolio includes companies such as , , Mistral, BlueBinaries, Bira, , Milky Mist, XYXX, Wingreens, Neemans, and .