Anicut Capital pours Rs 133 crore into TAO digital solutions for expansion
The investment, part of Anicut's third private credit fund, totaling Rs 1,000 crore with an additional green-shoe option of INR 500 crore, marks a significant move in supporting TAO's growth strategy.
Venture capital firm Anicut Capital has infused Rs 133 crore into TAO Digital Solutions, a US-based IT services company, through its private credit fund, GAF-4.
The investment, part of Anicut's third private credit fund, totaling Rs 1,000 crore with an additional green-shoe option of INR 500 crore, marks a significant move in supporting TAO's growth strategy.
In a statement released on Friday, Anicut Capital highlighted that the funding injection is earmarked for TAO Digital Solutions' acquisition of TriGeo Technologies, aiming to broaden its suite of digitization services.
TAO Digital Solutions, which operates globally with offices in the US, Canada, India, Australia, and Nigeria, sees this investment as a pivotal step in enhancing its customer offerings.
Rajkumar Velagapudi, CEO of TAO Digital Solutions, expressed enthusiasm about the financial support, stating, "We are extremely delighted with the financing received from Anicut Capital. This will play a pivotal role in elevating our offerings to our customers and help us take the next leap in our journey.
With the acquisition of TriGeo, our platform is set to incorporate digitization services, annotation and labeling, 3D modeling, and digital twinning capabilities to better serve our customers."
Anicut Capital's GAF-4, launched in the first quarter of the current fiscal year, has already deployed over Rs 220 crores in various thriving industries, including technology, ITeS, electronics manufacturing, and engineering services.
A Jayaseelan, Partner and Chief Credit Officer at Anicut Capital, expressed excitement about being part of TAO's growth journey, emphasizing the belief that TAO is well-positioned to become a market leader with its technological advancements and strategic acquisitions.
(With input from PTI)
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