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Anicut Capital, a multi-asset alternative investment firm, has announced an investment of ₹60 crore in BlueBinaries Engineering and Solutions Pvt Ltd, a Chennai-based engineering research and development (ER&D) start-up focused on the mobility industry.
Founded in 2017, BlueBinaries has established itself as a key player in ER&D services, delivering advanced solutions across mobility sectors. The company boasts deep expertise in product and digital engineering, serving a diverse customer base in Europe, the UK, the US, and the Asia Pacific.
BlueBinaries concentrates on accelerating the development of software-defined vehicles (SDVs) through electrical/electronics architecture design and development services, as well as digital technologies like cloud computing, AI/ML, cybersecurity, and IoT solutions.
“The overall automotive electronics and software market is expected to grow to more than $80 billion by 2030, driven by the demand for safer vehicles, advanced connectivity, and next-gen mobility solutions accelerating digital adoption worldwide,” said Dhruv Kapoor, Partner at 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,” he added.
Kishore LM, Co-founder, President & COO of BlueBinaries, stated that the ₹60 crore investment from Anicut Capital is a significant milestone for the company. It will enable BlueBinaries to build on its robust customer base of OEMs and Tier-1 automotive suppliers across geographies and enhance its SDV and digital capabilities.
BlueBinaries noted that with Anicut Capital’s investment, the company is set to advance its strategic initiatives by developing sustainable, safe, connected, and intelligent automotive technologies, embracing a digital-first approach.
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