Anicut Capital Invests Rs 60 Cr in BlueBinaries | Tech News

New Delhi, Aug 7 (PTI) Venture capital firm Anicut Capital has invested Rs 60 crore in engineering and technology services company BlueBinaries Engineering and Solutions, the company said on Wednesday.

The investment will enable BlueBinaries to enhance capability in software-defined vehicle (SDV) and digital mobility technologies as well as drive its global expansion, the statement said.

Founded in 2017, BlueBinaries has a diverse customer base in Europe, the UK, the US and APAC.

Anicut Capital, Partner, Dhruv Kapoor said that the overall automotive electronics and software market is expected to grow to over USD 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."

"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 said.

BlueBinaries, Co-founder, President and COO Kishore LM said that the investment from Anicut Capital is a significant milestone for BlueBinaries.

"It will enable us to build on our existing robust customer base of OEM's and Tier 1 automotive suppliers across geographies, enhance our SDV and Digital capabilities, and continue delivering cutting-edge solutions to meet the evolving demands of the industry," Kishore said.