Minimac Systems Raises ₹30 Cr
Pune-based lubricant lifecycle management startup Minimac Systems has raised ₹30 crore ($3.2 million) in a funding round led by Rainmatter, the investment
Minimac Systems has raised ₹30 crore ($3.2 million) in a fresh funding round led by Rainmatter, the investment arm of stock brokerage Zerodha.
The Pune-based startup will use the capital to scale its lubricant recycling and circularity infrastructure across India. Founder and IIM Indore alumnus Anshuman Agrawal stated the funding will help bring advanced restoration technology to more industrial plants.
Founded by Agrawal in 2012, Minimac Systems focuses on the lifecycle management of industrial lubricants. The company operates across three core areas of lubricant circularity.
Funding for Expansion and R&D
The fresh capital will be deployed toward 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.
The startup's 'Recycling on Wheels' service uses mobile treatment systems deployed directly at client plants. This allows companies to assess and restore lubricants onsite, eliminating the need to transport used oil to a distant treatment facility.
The Lubricant Circularity Model
Minimac's business model is built on three circularity offerings. Nano circularity involves monitoring lubricant condition and contamination while the oil is still inside industrial equipment.
Micro circularity focuses on restoring recoverable lubricant by removing contaminants. The third pillar is the mobile 'Recycling on Wheels' service.
Agrawal said the investment makes advanced infrastructure more accessible. "This investment lets us bring advanced restoration and circularity infrastructure within reach of many more industrial plants across India," he stated.
The company claims significant operational scale. It has deployed over 2,500 miniaturised fluid-treatment systems. Their combined installed processing capacity exceeds 3 lakh liters per minute.
Market Context and Impact
India is the world's third-largest lubricant market. It trails only the United States and China. The country consumes more than 5 million tonnes of lubricants and greases annually.
Despite this consumption, India imports over 60% of its base oil requirements. The annual base oil import bill exceeds $2.7 billion. The startup expects lubricant demand to grow between 4-5% annually over the next five years.
The startup claims to have worked on more than 2,200 industrial assets. It says it has kept over 14 million litres of lubricant in productive use across India and international markets.
| Metric | Figure |
|---|---|
| Miniaturised Systems Deployed | Over 2,500 |
| Installed Processing Capacity | Over 3 lakh liters per minute |
| Industrial Assets Served | Over 2,200 |
| Lubricant Kept in Productive Use | Over 14 million litres |
Its client roster includes major industrial and energy firms. Customers include NTPC, Adani Power, JSW Steel, Tata Steel, and Indian Oil. Bharat Petroleum, Hindustan Petroleum, Reliance Industries, Shell, and ExxonMobil are also clients.
The company has set an environmental target. It aims to help abate 860 gigagrams of carbon dioxide equivalent emissions by 2034.
