IIT (ISM) Dhanbad alumnus’ Minimac Systems raises ₹30 crore
THE JHARKHAND STORY NETWORK Dhanbad, September 7: Minimac Systems, a Pune-based industrial technology company founded by IIT (ISM) Dhanbad alumnus Anshuman Agrawal,…
Anshuman Agrawal
THE JHARKHAND STORY NETWORK
Dhanbad, September 7: Minimac Systems, a Pune-based industrial technology company founded by IIT (ISM) Dhanbad alumnus Anshuman Agrawal, has raised ₹30 crore in a pre-Series A funding round led by Rainmatter by Zerodha, with participation from select venture capital firms.
The company said the fresh capital will be used to strengthen its technology, develop new systems and expand its services across more industrial sectors.
Founded in 2012, Minimac Systems works on reducing the wastage of industrial lubricants — oils used to keep machinery running smoothly. Its technology enables industries to assess the condition of lubricants inside machines, clean and restore oil that remains usable, and route spent oil for recycling into base oil.
One of the company’s key initiatives is ‘Recycling on Wheels’, which uses mobile treatment systems that can be transported directly to factories. The model allows industries to clean and reuse lubricants at their own facilities instead of frequently replacing them with fresh oil.
Technology deployed across 2,200 industrial assets
Minimac Systems has deployed more than 2,500 lubricant treatment systems across over 2,200 industrial assets and helped keep more than 14 million litres of lubricant in productive use.
Its customers include major organisations such as NTPC, Tata Steel, Indian Oil, Reliance, Shell and L&T.
The latest funding will also support the expansion of the company’s Lubricants-as-a-Service model, under which industries can pay for lubricant management based on machine performance and the condition of the oil.
IIT (ISM) learning shapes entrepreneurial approach
Recalling his years at IIT (ISM) Dhanbad, Agrawal said the institute taught him to look beyond the symptoms of an engineering problem and understand its underlying cause.
He said this approach continues to influence Minimac Systems’ work as the company develops solutions aimed at improving industrial efficiency and reducing lubricant waste.
