Anicut Capital, an Indian investment firm managing alternative assets, has invested ₹133 crore in TAO Digital Solutions through private credit fund, GAF-4. 

The funds shall be utilised by TAO Digital Solutions to acquire TriGeo Technologies to expand its digitisation services. TAO Digital Solutions (TAO) is an IT services company working to unlock limitless digital innovation through solutions and services. TAO helps clients reimagine their businesses through a digital lens and operates on a global delivery model with offices in US, Canada, India, Australia and Nigeria. 

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The acquisition of TriGeo Technologies (TriGeo), which is a provider of data intelligence services, including data mapping, annotation and labelling, and 3D modelling services underscores TAO’s commitment to using technology as a catalyst for enterprise “Transformation”, “Automation”, and “Optimization”.

Pivotal role

Rajkumar Velagapudi, CEO of TAO Digital Solutions, said, “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 digitisation services, annotation and labeling, 3D modeling, and digital twinning capabilities to better serve our customers.”

Anicut Capital also mentioned that over the last 7 months, GAF-4 has deployed over ₹220 crore in industries like technology, ITeS, electronics manufacturing, and engineering services. Launched in Q1FY24, GAF-4 is Anicut’s third private credit fund having a size of ₹1,000 crore with an additional green shoe option of ₹500 crore. The firm’s strategic goal for this fund is to target industries with significant tailwinds and businesses having strong cash flows coupled with strong growth.