August 8, 2024: BlueBinaries Engineering and Solutions, a specialized engineering and technology services company has secured an investment of ₹60 crore from Anicut Capital, a leading multi-asset investment firm.
This capital infusion will propel BlueBinaries’ expansion into global markets and enhance its capabilities in software-defined vehicles and digital mobility technologies.
Established in 2017, BlueBinaries has made significant strides in the mobility sector, providing specialized engineering and technology services. The company’s focus on advancing software-defined vehicles (SDVs) through sophisticated electrical/electronic architecture and digital solutions has positioned it as a key player in the industry.
With a diverse clientele spanning Europe, the United Kingdom, the United States, and the APAC region, BlueBinaries is set to leverage this new investment to accelerate its growth and innovation efforts.
BlueBinaries well poised to exploit Automotive Electronics Market
Dhruv Kapoor, Partner at Anicut Capital, emphasized the strategic importance of the investment. “The automotive electronics and software market is on track to hit $80 billion by 2030, driven by increasing demand for safer and more connected vehicles. Our investment in BlueBinaries underscores our belief in their potential to lead the industry with comprehensive mobility solutions,” Kapoor commented.
Kishore LM, Co-founder, President, and COO of BlueBinaries, highlighted the impact of the investment on their operations. “This substantial funding from Anicut Capital is a game-changer for us. It will enable us to expand our customer base of OEMs and Tier I automotive suppliers, enhance our capabilities in SDV and digital technologies, and deliver cutting-edge solutions to address the dynamic needs of the automotive sector,” Kishore stated.
Anicut Capital, with a robust asset management portfolio totaling ₹3,000 crore across six funds, continues to support innovative companies like BlueBinaries. Its diverse investment portfolio includes notable names such as The Ayurveda Experience, Wow! Momo, Mistral, Bira, Blue Tokai Coffee, Milky Mist, XYXX, Wingreens, Neemans, and AgniKul Cosmos.
