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Indigrid Technology, an Electronics systems design and manufacturing startup has raised $4 million (around Rs 35.2 crore) as part of a strategic funding round from Cactus Partners at a post-money valuation of around Rs 600 crore.
The startup said it will use the funds to expand production, improve automation, hire more staff, and grow its presence in India and abroad.
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A portion of the funds will also be used to build new facilities in Goa and Manesar, Haryana.
“After raising the Series A round (last year), we moved from one facility to three facilities to cater to a larger client base. We also forayed into the consumer goods sector, which contributes 40-50% of our revenues… Having matured in the automotive industry, we have diversified to increase our product portfolio by acting on the evidently growing market traction in the consumer goods sector where we began acquiring some key clients,” Indigrid cofounder Sameer Narang said.
"It is their pragmatism and hunger for profitable growth that have triggered the strong demand pull, which positions the company well for its next phase of growth. We believe the timing is right for Indigrid to build upon its initial success and establish itself as a critical player in the growing ESDM ecosystem in the country,” said Amit Sharma, partner at Cactus Partners.
About Indigrid Technology
Founded in 2015 by Sameer Narang and Rishab Puri, Indigrid Technology is a full-stack electronics manufacturer with in-house design and production.
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Based in Delhi NCR, the ESDM startup makes battery packs, motor controllers, vehicle control units, and EV drivetrain components, among other products.
The company reported a 3–3.5x revenue growth in FY25, up from ₹70 crore in FY24.
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