India, Oct. 31 -- Delhi NCR-based B2B manufacturing startup CapGrid has raised Rs.50 Cr (about $5.2 Mn) in a Pre-Series B round to develop higher-end precision components and expand into sectors such as drone manufacturing and data centres.

The funding round values CapGrid at Rs.430 Cr (about $45.3 Mn), cofounder and CEO Dheeraj Tiwari told Inc42. Led by Hero Enterprise Venture Partners, the investment arm of Sunil Munjal-led Hero Enterprise, it included primary and secondary transactions, with participation from Axilor Ventures, Anicut Capital, Nexus Venture Partners, and angels.

Part of the primary proceeds will fund R&D into higher-end engineered precision components, while the remainder will support business growth, Tiwari said. Cap...