Anicut Capital invests Rs 60 Cr in BlueBinaries Engineering and Solutions

Anicut Capital, 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.

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"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 The Ayurveda Experience, Wow! Momo, Mistral, BlueBinaries, Bira, Blue Tokai Coffee, Milky Mist, XYXX, Wingreens, Neemans, and AgniKul Cosmos.