Anicut Capital, an Indian investment firm managing alternative assets, today announced that they have invested INR 133 crores in TAO Digital Solutions through private credit fund, GAF-4. The funds shall be utilized by TAO Digital Solutions to acquire TriGeo Technologies to expand its Digitization services.
TAO Digital Solutions (TAO) is an IT services Company working on a mission 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. The acquisition of TriGeo Technologies (TriGeo), which is a renowned provider of Data Intelligence Services, including Data Mapping, Annotation and Labeling, and 3D modeling services underscores TAO’s commitment to using technology as a catalyst for enterprise “Transformation”, “Automation”, and “Optimization”.
Commenting on the announcement 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 digitization services, annotation & labelling, 3D modeling, and digital twinning capabilities to better serve our customers.”
“We are thrilled to be a part of TAO’s growth journey. We strongly believe that TAO is poised to become a market leader soon, propelled by their technological advancements and with the acquisition of TriGeo, TAO has already taken the first step in that direction.” said A. Jayaseelan, Partner and Chief Credit Officer, Anicut Capital
Anicut Capital also mentioned that over the last 7 months, GAF-4 has successfully deployed over Rs. 220 crores in thriving 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 Rs. 1,000 crores with an additional green shoe option of Rs. 500 crores. 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.