Anicut Capital

Anicut Capital, established in 2016 and based in Chennai, India, is an asset management firm specializing in providing debt services to consumer goods companies. The firm operates a venture capital fund, Anicut Opportunities Fund I, which focuses on growth equity investments in sectors such as consumer internet, direct-to-consumer brands, business-to-business enterprises, and software-as-a-service. Anicut Capital targets investments in 10 to 15 growth stage companies, with individual investment amounts ranging from USD 2 million to USD 15 million. Founded by professionals with extensive experience in commercial, private, and investment banking, Anicut Capital aims to leverage its expertise in the Indian market.

Ajay Anand

Partner, Seed Fund

Ilayaarunachalam Balamurugan

Co-Founder, Managing Partner and Member of Investment Committee

IAS Balamurugan

Managing Partner

Adithya Bharadwaj

Vice President

Dhruv Kapoor

Partner, Growth Equity

Veenu Mittal

CFO

Harsh Mohan

Analyst

Ankita Poddar

Associate

Dhruv Ranjan

Associate

Pranav Visvesh

Associate

I A S Balamurugan

Co-Founder and Managing Partner

Jayaseelan A

Partner, Private Credit

Past deals in India

XYXX

Series C in 2023
XYXX is a manufacturer specializing in men's innerwear and loungewear, offering a diverse range of products including trunks, briefs, boxers, jockstraps, vests, pajamas, and t-shirts. The company focuses on fashion and comfort, utilizing naturally sourced, eco-friendly fabrics to create stylish items that stand out with vibrant colors, unique prints, and innovative designs. By prioritizing both aesthetics and functionality, XYXX aims to elevate everyday basics, providing customers with options that go beyond traditional offerings.

UzhavarBumi

Venture Round in 2023
UzhavarBumi Agro Products Pvt. Ltd, founded in July 2017 and based in Kanchipuram, India, specializes in fresh dairy products. The company aims to create a direct trade link between local farmers and consumers, ensuring access to fresh and chemical-free products. UzhavarBumi offers a range of items including cow milk, cow ghee, and natural honey, positioning itself as one of the leading brands in Tamil Nadu's dairy market. To facilitate purchases and delivery, UzhavarBumi provides applications for consumers and dealers, enhancing the efficiency of their services.

SatSure

Series A in 2023
SatSure is a decision analytics firm focused on enhancing the agriculture sector through advanced geospatial big data solutions. The company integrates satellite imagery, machine learning, and economic datasets to develop accurate agricultural risk profiles, particularly in crop insurance and yield assessment. By combining climatic variables with financial and socio-economic data, SatSure's platform offers real-time, location-specific insights that assist financial institutions and stakeholders in making informed decisions regarding irrigation, infrastructure, and climate action. This innovative approach aims to address critical challenges in food, water, and energy security.

Uravu Labs

Seed Round in 2022
Developer of a renewable water technology designed to tackle water crises by harvesting water from the air utilizing solar energy. The company's product leverages a patent-pending solar adsorption reactor technology that absorbs water vapors from the air at night, heats the same during the day using solar energy, and releases the water back, enabling communities to survive in water-crisis hit areas by generating several liters of water every day.

Lemme Be

Seed Round in 2022
Lemme Be is a gender-inclusive period care brand focused on providing eco-friendly sanitary products made from organic cotton. The company aims to establish a global presence in the period care market by offering a diverse range of products, including pads, tampons, pantyliners, and menstrual cups. Lemme Be caters to the needs of both teens and adults, ensuring that individuals can find products that suit their unique bodies and menstrual flows. Through its commitment to sustainability and inclusivity, Lemme Be seeks to redefine period care for a broader audience.

Kytchens

Seed Round in 2022
Kytchens operates a comprehensive "Kitchen as a Service" platform designed to assist food and beverage brands in broadening their reach across the country. By managing the entire customer experience—from order acceptance to cooking and delivery—Kytchens ensures that consumers can enjoy their favorite brand's food from the comfort of their homes. This cloud kitchen network allows brands to scale sustainably and efficiently, optimizing resources while accelerating growth.

Neemans

Series B in 2022
is focused on redefining shoe industry in India using natural materials to create shoes which are super comfortable for all day wear.

SUGAR Cosmetics

Series D in 2022
SUGAR Cosmetics is a prominent Indian beauty brand that specializes in manufacturing and retailing color cosmetics, including lipsticks, eyeliners, foundations, blushes, and nail lacquers. Founded in 2012 and headquartered in Mumbai, the company has gained popularity among millennials for its unique branding and innovative product offerings, which are designed to cater to bold, independent women. SUGAR Cosmetics products are crafted in advanced facilities across various countries, including Germany, Italy, the USA, and Korea, ensuring high quality and performance. The brand emphasizes cruelty-free cosmetics and aims to provide solutions that match diverse Indian skin tones. It operates through a combination of retail stores and online channels, boasting over 2,500 retail outlets across more than 130 cities as of 2020. SUGAR Cosmetics is committed to expanding its presence and accessibility, aiming to reach every makeup user in India.

MasterChow

Seed Round in 2022
MasterChow is a ready-to-cook Asian cuisine brand.

Earth Rhythm

Series A in 2022
Earth Rhythm is a direct-to-consumer personal care brand specializing in professional-grade products across haircare, skincare, and makeup. The company offers a diverse range of non-toxic and plastic-free sustainable products, including face masks, toners, hair oils, shampoos, conditioners, lipsticks, and lip balms. These products are formulated with a blend of natural raw materials and science-backed ingredients, addressing various consumer concerns such as acne, dehydrated skin, hyperpigmentation, dark circles, and signs of aging. Earth Rhythm focuses on providing effective solutions while promoting sustainability in the beauty industry.

Snapmint

Series A in 2022
Operator of an online shopping platform and a checkout financing product intended to eliminate the dependency on credit cards and the hassle of physical documentation during buyers' loan applications. The company's platform offers no-cost EMI plans and provides a range of products including mobiles, laptops, television, and fashion, enabling buyers to purchase their desired products and pay in flexible, affordable, and simple installments.

ChargeUp

Seed Round in 2022
ChargeUp is a company that focuses on electric mobility through its innovative battery swapping network specifically designed for e-rickshaws. By providing a driver-centric platform, ChargeUp offers proprietary battery technology and a battery-as-a-service model. This allows e-rickshaw owners to access advanced lithium batteries via strategically located battery-swapping stations. The service aims to enhance the operational efficiency and revenue potential for rickshaw drivers, addressing key challenges in the electric vehicle sector while promoting sustainable transportation solutions.

Neemans

Series A in 2021
is focused on redefining shoe industry in India using natural materials to create shoes which are super comfortable for all day wear.

Zingavita

Angel Round in 2021
Zingavita is a children's nutrition brand focused on providing healthy food supplements designed for kids and families. The company collaborates with nutritionists and doctors to develop a range of products that emphasize natural ingredients, presented in a playful and appealing manner. By prioritizing both taste and nutritional value, Zingavita aims to help parents ensure that their children receive essential nutrients, promoting good health as an integral part of their lifestyle.

Grip

Seed Round in 2020
Grip Invest Advisors Private Limited operates a digital leasing platform that connects investors with opportunities to invest in physical assets such as vehicles, equipment, and furniture. Launched in 2020 and headquartered in Gurugram, India, Grip offers a transparent and secure environment for investment, allowing users to browse curated leasing opportunities, review financial details, and assess lease terms and expected returns. Investors can select their investment amount and complete transactions through online transfers. The platform also facilitates collaboration among co-investors, enhancing the appeal of each asset. By transforming capital expenditure into operating expenditure, Grip assists businesses in managing risks and asset depreciation while promoting growth through efficient leasing solutions.

Wow! Momo

Debt Financing in 2020
Wow! Momo is a chain of fast-food restaurants in India that specializes in momos. Wow Momo aims to become Kolkata and India's biggest chain of momos and to create lots and lots of jobs and achieve their dream of becoming a successful employee sensitive organization, where every team member has his upliftment and enjoys his work to the fullest.

Blue Tokai Coffee Roasters

Funding Round in 2020
Blue Tokai Coffee Roasters provides an online marketplace specifically to sell roasted coffee. Blue Tokai Coffee Roasters operates as a specialty coffee e-tailer for sourcing single-estate Arabica coffee beans from Indian coffee estates, roasts them on order bases, and delivers directly to customers, allowing customers to order online or visits their special retail stores. Blue Tokai Coffee Roasters was founded on 2012 and is based in Delhi, India.

Neemans

Seed Round in 2020
is focused on redefining shoe industry in India using natural materials to create shoes which are super comfortable for all day wear.

Bira 91

Series B in 2019
Bira 91 is a modern beer brand focused on delivering flavorful and diverse beer options to consumers. The company offers a strong portfolio that includes five distinct beers: Bira 91 White, a low bitterness wheat beer; Bira 91 Blonde, an extra hoppy craft lager; Bira 91 Light, a low-calorie lager; Bira 91 Strong, a high-intensity wheat beer; and Bira 91 “The IPA,” noted as the first IPA brewed and bottled in India. By providing a variety of craft beers, Bira 91 aims to cater to the evolving tastes of beer enthusiasts and contribute to a global trend that favors more colorful and flavorful drinking experiences.

Astrogate Labs

Seed Round in 2019
Astrogate Labs Private Limited, founded in 2017 and headquartered in Bengaluru, India, specializes in developing advanced satellite communication systems. The company focuses on creating high-speed communication solutions for the space industry, offering a small satellite optical terminal that incorporates a small-aperture optical ground terminal, an observatory-grade telescope, and an optical modem. Astrogate Labs also develops a network of optical ground stations, providing a secure and efficient communication link that operates at extreme data rates while maintaining a lower mass and power consumption than traditional radio frequency systems. This innovative approach addresses the challenges of low bandwidth and high spectrum licensing costs, presenting a comprehensive turn-key solution for satellite communication needs.

Bira 91

Debt Financing in 2019
Bira 91 is a modern beer brand focused on delivering flavorful and diverse beer options to consumers. The company offers a strong portfolio that includes five distinct beers: Bira 91 White, a low bitterness wheat beer; Bira 91 Blonde, an extra hoppy craft lager; Bira 91 Light, a low-calorie lager; Bira 91 Strong, a high-intensity wheat beer; and Bira 91 “The IPA,” noted as the first IPA brewed and bottled in India. By providing a variety of craft beers, Bira 91 aims to cater to the evolving tastes of beer enthusiasts and contribute to a global trend that favors more colorful and flavorful drinking experiences.

Bira 91

Series B in 2019
Bira 91 is a modern beer brand focused on delivering flavorful and diverse beer options to consumers. The company offers a strong portfolio that includes five distinct beers: Bira 91 White, a low bitterness wheat beer; Bira 91 Blonde, an extra hoppy craft lager; Bira 91 Light, a low-calorie lager; Bira 91 Strong, a high-intensity wheat beer; and Bira 91 “The IPA,” noted as the first IPA brewed and bottled in India. By providing a variety of craft beers, Bira 91 aims to cater to the evolving tastes of beer enthusiasts and contribute to a global trend that favors more colorful and flavorful drinking experiences.

Agnikul

Seed Round in 2019
Agnikul Cosmos Private Limited, founded in 2017 and based in Chennai, India, specializes in designing, manufacturing, testing, and launching orbital-class rockets aimed at micro and nanosatellites. The company operates out of the National Center for Combustion R&D at IIT-Madras and boasts a diverse team comprising rocket scientists, engineers, ex-bankers, and space lawyers. Agnikul's launch vehicles are fully mobile and can be deployed from various launch ports, utilizing kerosene as fuel. They are capable of reaching both low and high-inclination orbits, which allows clients to access space on demand at competitive prices. This combination of innovation and versatility positions Agnikul as a key player in the space launch industry.

Snapmint

Seed Round in 2018
Operator of an online shopping platform and a checkout financing product intended to eliminate the dependency on credit cards and the hassle of physical documentation during buyers' loan applications. The company's platform offers no-cost EMI plans and provides a range of products including mobiles, laptops, television, and fashion, enabling buyers to purchase their desired products and pay in flexible, affordable, and simple installments.

Yaantra

Debt Financing in 2018
Yaantra operates an online site to sell refurbished, unboxed, and preowned mobiles and services. The company sells smartphones; and accessories, such as power banks, usb cables, adaptors, and chargers. It also enables users to book mobile, tablet, and doorstep repair services, as well as check repair status. The company was founded in 2013 and is based in Delhi, India. Yaantra operates as a subsidiary of Gadgetwood eServices Pvt. Ltd.

PopiCorn

Debt Financing in 2018
PopiCorn is a ready-to-eat popcorn brand that has 6 different flavors. The company upgraded its production to a full-fledged factory as the demand increased manifold, making the brand grow exponentially. Popicorn aims to contribute to a proud legacy that India has and makes more and more people fall in love with this delicious, low calorie, easy access snack.

Aereo

Seed Round in 2018
Aarav Unmanned Systems Private Limited, founded in 2013 and based in Varanasi, India, develops advanced unmanned aerial systems tailored for various enterprise applications. The company's flagship product, Nayan, is a quadrotor designed for developers and researchers, facilitating tasks such as 3D mapping, precision agriculture, industrial inspection, and aerial photography. Aarav Unmanned Systems focuses on providing high-value engineering solutions that enhance operational efficiency and data richness, enabling businesses to make informed decisions. Their drones are engineered for ease of use, requiring no specialized training for operation, and are noted for their rapid deployment capabilities. Through continuous innovation in drone technology, hardware optimization, and design, the company aims to set industry benchmarks and expand its global presence, serving key players across diverse sectors.

Bira 91

Convertible Note in 2017
Bira 91 is a modern beer brand focused on delivering flavorful and diverse beer options to consumers. The company offers a strong portfolio that includes five distinct beers: Bira 91 White, a low bitterness wheat beer; Bira 91 Blonde, an extra hoppy craft lager; Bira 91 Light, a low-calorie lager; Bira 91 Strong, a high-intensity wheat beer; and Bira 91 “The IPA,” noted as the first IPA brewed and bottled in India. By providing a variety of craft beers, Bira 91 aims to cater to the evolving tastes of beer enthusiasts and contribute to a global trend that favors more colorful and flavorful drinking experiences.

Bira 91

Debt Financing in 2017
Bira 91 is a modern beer brand focused on delivering flavorful and diverse beer options to consumers. The company offers a strong portfolio that includes five distinct beers: Bira 91 White, a low bitterness wheat beer; Bira 91 Blonde, an extra hoppy craft lager; Bira 91 Light, a low-calorie lager; Bira 91 Strong, a high-intensity wheat beer; and Bira 91 “The IPA,” noted as the first IPA brewed and bottled in India. By providing a variety of craft beers, Bira 91 aims to cater to the evolving tastes of beer enthusiasts and contribute to a global trend that favors more colorful and flavorful drinking experiences.

SUGAR Cosmetics

Venture Round in 2017
SUGAR Cosmetics is a prominent Indian beauty brand that specializes in manufacturing and retailing color cosmetics, including lipsticks, eyeliners, foundations, blushes, and nail lacquers. Founded in 2012 and headquartered in Mumbai, the company has gained popularity among millennials for its unique branding and innovative product offerings, which are designed to cater to bold, independent women. SUGAR Cosmetics products are crafted in advanced facilities across various countries, including Germany, Italy, the USA, and Korea, ensuring high quality and performance. The brand emphasizes cruelty-free cosmetics and aims to provide solutions that match diverse Indian skin tones. It operates through a combination of retail stores and online channels, boasting over 2,500 retail outlets across more than 130 cities as of 2020. SUGAR Cosmetics is committed to expanding its presence and accessibility, aiming to reach every makeup user in India.

Lendingkart

Debt Financing in 2017
Lendingkart Technologies Private Limited is a fintech company based in Ahmedabad, India, that specializes in providing working capital loans and other financing solutions for small and medium enterprises (SMEs). Founded in 2014, the company employs advanced technology and big data analytics to assess the creditworthiness of borrowers efficiently. Lendingkart offers a range of financial products, including business loans, MSME loans, and short-term loans, aimed at facilitating access to credit for small businesses in India. Its application, LENDINGKART, streamlines the loan application process, enabling users to receive loan sanctions quickly. With additional offices in Bengaluru and Mumbai, Lendingkart is focused on transforming small business lending by making it more accessible and convenient for entrepreneurs.

Lendingkart

Venture Round in 2017
Lendingkart Technologies Private Limited is a fintech company based in Ahmedabad, India, that specializes in providing working capital loans and other financing solutions for small and medium enterprises (SMEs). Founded in 2014, the company employs advanced technology and big data analytics to assess the creditworthiness of borrowers efficiently. Lendingkart offers a range of financial products, including business loans, MSME loans, and short-term loans, aimed at facilitating access to credit for small businesses in India. Its application, LENDINGKART, streamlines the loan application process, enabling users to receive loan sanctions quickly. With additional offices in Bengaluru and Mumbai, Lendingkart is focused on transforming small business lending by making it more accessible and convenient for entrepreneurs.

ShareChat

Seed Round in 2016
ShareChat is an Indian social media startup. It offers the content consumption and sharing platform only in Indian vernacular languages to cater to over 1.17 billion wireless network users of India. It is available in 15 Indian languages. The company was founded in 2015 and is headquartered in Bangalore, Karnataka.
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