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Pune-based startup Minimac Systems has raised ₹30 Cr ($3.2 Mn) in a fresh funding round led by Zerodha’s investment arm Rainmatter

With the fresh funds, Minimac plans to use the capital towards research and development (R&D) of miniaturised fluid-treatment infrastructure, fleet automation and fluid analytics

Some of the funds will also help in deepening its recycling technology and expand its doorstep services footprint

Pune-based startup Minimac Systems has raised ₹30 Cr ($3.2 Mn) in a fresh funding round led by Zerodha’s investment arm Rainmatter as it looks to scale its lubricant recycling and circularity infrastructure across India.

Minimac plans to deploy the fresh capital towards research and development (R&D) of miniaturised fluid-treatment infrastructure, fleet automation and fluid analytics. Some of the funds will also help in deepening its recycling technology and expand its doorstep services footprint.

Founded in 2012 by IIM Indore alum Anshuman Agrawal, Minimac Systems focuses on lifecycle management of lubricants. The startup operates across three areas of lubricant circularity.

While nano circularity offering focuses on monitoring lubricant condition and contamination while the oil remains within industrial equipment, it restores recoverable lubricant by removing contaminants under micro circularity.

Meanwhile, its ‘Recycling on Wheels’ offering deploys mobile treatment systems directly at industrial plants, allowing companies to assess and restore lubricants onsite instead of transporting the oil to a treatment facility.

India is the world’s third-largest lubricant market, trailing only the United States and China, and consumes more than 5 Mn tonnes of lubricants and greases, annually. However, the country imports more than 60% of its base oil requirements, with its annual base oil import bill exceeding $2.7 Bn.

The startup expects the demand for lubricants is expected to grow between 4-5% annually over the next five years.

Minimac claims to have deployed more than 2,500 miniaturised fluid-treatment systems with a combined installed processing capacity of over 3 Lakh liters per minute.

The startup claims to have worked across more than 2,200 industrial assets and kept over 14 Mn litres of lubricant in productive use across India and international markets.

Its customers include NTPC, Adani Power, JSW Steel, Tata Steel, Indian Oil, Bharat Petroleum, Hindustan Petroleum, Reliance Industries, Shell and ExxonMobil, among others.

The startup aims to help abate 860 gigagrams of carbon dioxide equivalent emissions by 2034.