Industrial deep-tech company Minimac Systems has raised Rs 30 crore in a pre-Series A funding round led by Rainmatter, the investment firm backed by Zerodha, with participation from other venture capital firms.
The company plans to use the fresh capital to advance research and development in miniaturised treatment infrastructure, fleet automation and fluid analytics. The funding will also support the expansion of its Recycling on Wheels model through regional hubs across major industrial clusters, along with investments in its commercial, digital and operational capabilities.
Founded in 2012 by Anshuman Agrawal, Minimac Systems works on lubricant lifecycle management, industrial reliability and circularity. Its business includes miniaturised fluid-treatment systems and Recycling on Wheels, a mobile model that enables lubricant restoration directly at industrial sites. The company is also developing a Lubricants as a Service offering.
Targeting India’s Growing Lubricant Market
India is currently the world’s third-largest lubricant market, consuming more than 5 million tonnes of lubricants and greases every year. The annual base-oil import bill has also crossed $2.7 billion, according to market research cited by Minimac.
The company is building its technology around the idea of extending the useful life of industrial lubricants rather than relying only on fresh lubricant consumption.
Its platform is divided into three stages of lubricant management: NanoCircularity, MicroCircularity and MacroCircularity.
NanoCircularity focuses on monitoring lubricant while it is being used inside machines. It combines condition monitoring, contamination control and fluid-health analytics to assess lubricant performance.
MicroCircularity is aimed at restoring recoverable lubricant at industrial plants. The process removes contaminants, moisture and degradation by-products so the lubricant can be returned to use.
For lubricant that cannot be restored, MacroCircularity sends it to registered re-refiners for conversion into re-refined base oil, also known as RRBO.
Expanding Recycling on Wheels
Minimac’s Recycling on Wheels model uses mobile and miniaturised treatment systems that can process around 10 to 4,000 litres of lubricant per minute.
The systems are taken directly to industrial sites, where they assess and treat lubricant before it is returned to service. The company plans to expand this model through regional hubs located across major industrial clusters.
Minimac aims to abate 860 gigagrams of CO2e emissions by 2034 through its lubricant circularity model.
The company also plans to manage the lubricant lifecycle within industrial plants, covering supply, monitoring, restoration, compliance and end-of-life recovery.
Under its proposed business model, contracts will be linked to outcomes such as equipment uptime and fluid health rather than being based only on the sale of products.
More Than 2,500 Systems Deployed
Minimac Systems claims to have deployed more than 2,500 miniaturised fluid-treatment systems with a combined installed processing capacity of over 300,000 litres per minute.
The company has worked across more than 2,200 industrial assets and says it has kept over 14 million litres of lubricant in productive use across India and international markets.
Its customer base includes major industrial companies such as NTPC, Adani Power, JSW Steel and Tata Steel.
Lubricant Circularity Sector Remains Niche
The lubricant circularity market remains a relatively niche segment in India, although a number of companies are working on used-oil recycling and resource recovery.
Startups such as Santosh Petrochemical Innovations and ReVivo’s LubeLoop are working on used-oil re-refining and resource recovery.
In March 2026, Re Sustainability partnered with Indian Oil Corporation to develop a nationwide used-oil collection and recycling ecosystem. The partnership plans to collect 100 KTA of used lubricants and establish a 50–100 KTA re-refining facility.
Investor interest is also extending to adjacent industrial circularity technologies. In January 2026, PolyCycl raised a Series A round from Rainmatter for its chemical recycling technology.
For Minimac Systems, the latest funding will support the transition from individual fluid-treatment systems towards a broader lifecycle model covering monitoring, restoration, recovery and industrial operations. The company is now looking to scale its technology and Recycling on Wheels network while building the capabilities needed to serve more industrial customers in India and overseas.
-By Shivani Solanki
