New Delhi: Anicut Capital, a venture capital firm, has put Rs 60 crore into BlueBinaries Engineering and Solutions, a company focused on engineering and technology services, as revealed by the company on Wednesday. The funding will allow BlueBinaries to improve their expertise in software-defined vehicle (SDV) and digital mobility technologies, as well as expand globally, according to the announcement. Established in 2017, BlueBinaries serves a wide range of customers in Europe, the UK, the US and APAC.
According to Partner Dhruv Kapoor of Anicut Capital, the automotive electronics and software market is projected to exceed USD 80 billion by 2030 due to rising demand for safer vehicles, enhanced connectivity, and next-generation mobility solutions promoting digital adoption globally. He stated that BlueBinaries is in a good position to lead the industry with complete mobility solutions due to their extensive industry expertise and robust engineering skills.
Kishore LM, President and COO of BlueBinaries and Co-founder, highlighted the importance of the investment made by Anicut Capital as a major achievement for the company. Kishore stated that it will help us expand on our strong customer base of OEM's and Tier 1 automotive suppliers worldwide, improve our SDV and Digital skills, and keep providing innovative solutions to meet industry needs.
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