CHENNAI: Anicut Capital, a multi-asset investment firm, announced an investment of Rs 60 crore in BlueBinaries Engineering and Solutions Private Limited.

Founded in 2017, BlueBinaries has established itself as a key ER&D services player in the mobility industry, renowned for delivering advanced solutions and services across mobility solutions. With deep expertise in product and digital engineering domains, BlueBinaries serves a diverse customer base in Europe, UK, USA and APAC.

The company focuses on accelerating the development of Software Defined Vehicles (SDVs) with E/E architecture design and development services and digital technologies like Cloud, Devops, AI/ML, CyberSecurity and IOT solutions for its customers.

Anicut Capital expressed confidence in BlueBinaries potential. "The overall automotive electronics and software market is expected to grow to over $80bn by 2030 with an increase in demand for safer vehicles, advanced connectivity and next-gen mobility solutions accelerating digital adoption across the world" said Dhruv Kapoor, partner, Anicut Capital.