Anicut Capital Invests INR 60 Cr in BlueBinaries This investment will enable the Chennai-based platform to enhance its capabilities in software-defined vehicles (SDV) and digital mobility technologies, as well as drive its global expansion.

Engineering and technology services company BlueBinaries announced that it has raised INR 60 crore (USD 7.2 million) in a mix of debt and equity round led by Anicut Capital.

This strategic investment reinforces BlueBinaries mission to deliver cutting-edge technological solutions and services for the mobility industry while driving its global expansion.

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

Founded in 2017 by Srinivas Aravapalli and Kishore LM, BlueBinaries focuses on accelerating the development of software-defined vehicles (SDVs) with E/E architecture design and development services and digital technologies like cloud, Devops, AI/ML, cyber security, and IOT solutions for its customers.

The Chennai-based platform claims to serve a diverse customer base in Europe, UK, USA and APAC. It aims to deliver cutting-edge technological solutions and services for the mobility industry.

"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," 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."