Pune-based deeptech firm Minimac Systems has raised ₹30 crore in a pre-Series A round led by Rainmatter, the investment arm of Zerodha. The company plans to use these funds to scale its industrial lubricant recycling business and advance its research in fluid analytics. This investment highlights the growing interest in industrial circularity to help reduce India’s heavy reliance on imported base oils.
Minimac Systems, a Pune-based industrial deeptech company, has successfully closed a ₹30 crore pre-Series A funding round led by Rainmatter, the venture capital division of the brokerage firm Zerodha. Founded in 2012 by Anshuman and Harshit Agrawal, the startup specializes in managing the lifecycle of industrial lubricants through a circular business model.
This funding marks a significant milestone for the company as it moves to scale its operations. Unlike traditional lubricant suppliers, Minimac focuses on extending the life of existing industrial oils rather than just selling new products. The firm’s core model involves miniaturized treatment systems and a mobile service called 'Recycling on Wheels,' which allows industrial clients to purify used lubricants directly at their own facilities.
The capital infusion is earmarked for expanding these recycling capabilities. The company plans to boost its research and development in fluid analytics and fleet automation while setting up regional hubs in key industrial areas. By establishing these hubs, Minimac aims to manage its supply chain and logistics more efficiently across India.
From an industry perspective, the company addresses a major cost and supply chain issue for the Indian manufacturing sector. India consumes over five million tonnes of lubricants every year, yet it imports more than 60% of its base oil requirements. This dependency leads to an annual import bill exceeding $2.7 billion. By offering a way to reuse industrial oils, Minimac’s approach could help manufacturers improve their operational efficiency and potentially reduce costs.
Investors and observers should note that Minimac Systems is a private, unlisted company. There is no stock price or public trading data to track. The growth of this company will depend on its ability to execute its expansion plans without facing cost overruns or operational delays. Because the business relies on a logistics-heavy model, scaling the fleet of mobile recycling units while maintaining profitability is a key operational challenge. Additionally, the company's success will be tied to India's regulatory environment, particularly the evolving Extended Producer Responsibility (EPR) norms, which govern how used oil and waste are handled. If government policies continue to favor sustainability and circularity, it could provide a supporting environment for the company’s services.
Going forward, the primary monitorables for the company will be the speed at which it deploys its new regional hubs, the adoption rate of its 'Recycling on Wheels' service among large industrial clients, and the company's ability to maintain its profit margins while scaling up its infrastructure and R&D spending.