Chara Technologies secures Rs 52 Cr in Series A round led by Arkam Ventures

Deep-tech company Chara Technologies has raised Rs 52 crore (about $6 million) in Series A funding round led by Arkam Ventures.

The round also saw participation from Exfinity Venture Partners, Kalaari Capital, and IIMA Ventures.

The startup plans to use the funds to establish a dedicated testing and validation facility in Bengaluru, which is expected to boost production capacity five-fold, from 20,000 to 100,000 units per year.

A portion of the funds will also be allocated to launch new product lines, including lighter, high-speed motors, larger-capacity variants, and industrial models.

Read Also: IIMA Ventures partners Jaivel Aerospace to launch fund to back early-stage defence, aerospace startups

“Deep-tech, autonomy in energy systems, and manufacturing are key ingredients for a Viksit Bharat. At Chara, we are working diligently towards these goals. The infusion of capital will help us scale our product deployments, strengthen our manufacturing capability and invest in future products. Our goal is to build a deep-tech product company in India and deploy our products worldwide,” said Bhaktha Keshavachar, Founder & CEO, Chara Technologies.

“Chara, with its combination of proven technology and design to manufacturing capability, is well placed to fulfil the growing needs of Indian auto OEMs for power train solutions. Chara is the first Indian company that allows for end to end domestic sufficiency to enable the massive mission of EV adoption in India. They have achieved the most important milestone of a deeptech company - commercialising production and proving on road performance of a IP rich product starting from inhouse design. The fresh capital will allow Chara to deliver on the quality and reliable production requirements of large OEMs,” said Rahul Chandra, Managing Director, Arkam.

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About Chara Technologies

Founded in 2019 by Bhaktha Keshavachar, Mahalingam Koushik and Ravi Prasad, the Bengaluru-based Chara Technologies focuses on developing rare-earth-free electric motors and controllers for a range of applications, including electric vehicles (on- and off-highway), industrial machinery and agricultural equipment.

The company has engineered a synchronous reluctance motor architecture that completely eliminates magnets, making its motors 15–20% more cost-effective and more sustainable, while maintaining performance comparable to PMSMs (permanent magnet synchronous motors). These motors offer improved vehicle range, reduced energy losses and lower total cost of ownership (TCO).

Chara’s proprietary motor control algorithms, power electronics, and software form an end-to-end powertrain system, delivering superior efficiency and scalability across diverse applications.

The company last raised $4.75 million in January 2023 through a pre-Series A round led by Exfinity Venture Partners, with participation from Vietnam-based Big Capital (venture arm of Bitexco), Log9 Materials, and investors Kalaari Capital and CIIE.CO.

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