Anicut Capital, a multi-asset investment firm, has announced an investment of Rs 60 crore in BlueBinaries Engineering and Solutions, an engineering and technology services provider for the mobility industry.
The move is aimed at bolstering BlueBinaries’ efforts to deliver innovative technological solutions and expand its global footprint, said a statement.
Founded in 2017, BlueBinaries serves a wide range of clients across Europe, the UK, the USA, and the Asia-Pacific region, focusing on the development of Software Defined Vehicles (SDVs) and employing technologies such as cloud computing, DevOps, artificial intelligence, machine learning, cybersecurity, and the Internet of Things.
Kishore LM, Co-founder, President, and COO of BlueBinaries, said: “It will enable us to build on our existing robust customer base of OEMs and Tier 1 automotive suppliers across geographies, enhance our SDV and digital capabilities, and continue delivering solutions to meet the evolving demands of the industry.”
The infusion of capital from Anicut is expected to fuel BlueBinaries’ growth and innovation, allowing the company to tackle the complex challenges of the mobility industry. With a focus on developing sustainable, safe, connected, and intelligent automotive technologies, BlueBinaries said it aims to continue its digital-first approach and reinforce its position as a key player in the industry.
Highlighting the promising future of the automotive electronics and software market, projecting its growth to over $80 billion by 2030, Dhruv Kapoor, Partner Anicut Capital, noted the rising demand for safer vehicles, advanced connectivity, and next-generation mobility solutions as key drivers of this growth.
“With deep industry knowledge and strong engineering capabilities, we believe BlueBinaries is well-positioned to lead the industry with end-to-end mobility offerings,” Kapoor said.
