Minimac Systems Raises INR 30 Cr in a Round Led by Zerodha’s Rainmatter
Minimac Systems raises INR 30 Cr led by Rainmatter by Zerodha to scale industrial lubricant recycling across India.
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Minimac Systems, an industrial deep-tech company focused on lubricant lifecycle management and circularity, has raised INR 30 crore in a funding round led by Rainmatter by Zerodha, with participation from select venture capital firms. Founded by Anshuman Agrawal, an alumnus of IIT (ISM) Dhanbad and IIM Indore, Minimac has been bootstrapped and profitable since inception.
India is the world’s third-largest lubricant market, consuming more than 5 million tonnes of lubricants and greases a year while importing over 60% of its base oil, at an annual import bill exceeding USD 2.7 billion.
Minimac’s model operates across three layers: NanoCircularity, which monitors lubricant condition inside machines; MicroCircularity, which restores recoverable lubricant at the plant; and MacroCircularity, which routes unrecoverable oil to registered re-refiners. Its Recycling on Wheels service delivers mobile treatment systems, with processing capacities from roughly 10 to 4,000 litres per minute, directly to plants. The company is also developing Lubricants as a Service, a contract model covering the full lubricant lifecycle.
Minimac has deployed more than 2,500 miniaturised fluid-treatment systems with a combined processing capacity of over 300,000 litres per minute, worked across more than 2,200 industrial assets, and kept more than 14 million litres of lubricant in productive use. Its customers include NTPC, Adani Power, JSW Steel, Tata Steel, Indian Oil, Reliance Industries, Shell, ExxonMobil, Larsen & Toubro, and Hindustan Aeronautics.
India’s Extended Producer Responsibility framework for used oil, in force since April 2024, requires recycling targets of 20% by FY27, rising to 50% from FY31.
The new capital will fund R&D in treatment infrastructure and fluid analytics, expand Recycling on Wheels through regional hubs, and build out the company’s Lubricants as a Service offering.
“We built Minimac on one belief: lubricant is an engineered asset, not a consumable,” said Anshuman Agrawal, Founder and Managing Director, Minimac Systems. “This investment lets us bring advanced restoration and circularity infrastructure within reach of many more industrial plants across India.”
“Minimac is the kind of company we find easy to like and hard to find,” said Abhinav Negi, Lead – Climate & Deep Tech, Rainmatter by Zerodha. “It reduces import dependence, cuts hazardous waste, extends the life of capital equipment, and pays for itself in avoided downtime, with a stated ambition to abate 860 gigagrams of CO2 equivalent by 2034.”
Minimac Systems, an industrial deep-tech company focused on lubricant lifecycle management and circularity, has raised INR 30 crore in a funding round led by Rainmatter by Zerodha, with participation from select venture capital firms. Founded by Anshuman Agrawal, an alumnus of IIT (ISM) Dhanbad and IIM Indore, Minimac has been bootstrapped and profitable since inception.
India is the world’s third-largest lubricant market, consuming more than 5 million tonnes of lubricants and greases a year while importing over 60% of its base oil, at an annual import bill exceeding USD 2.7 billion.
Minimac’s model operates across three layers: NanoCircularity, which monitors lubricant condition inside machines; MicroCircularity, which restores recoverable lubricant at the plant; and MacroCircularity, which routes unrecoverable oil to registered re-refiners. Its Recycling on Wheels service delivers mobile treatment systems, with processing capacities from roughly 10 to 4,000 litres per minute, directly to plants. The company is also developing Lubricants as a Service, a contract model covering the full lubricant lifecycle.
