Indigrid Technology raises Rs 40 Cr in Series A round led by Cactus Partners

Electric Vehicle component maker Indigrid Technologies has secured Rs 40 crore ($4.4 million) in a Series A funding round led by Cactus Partners.

The round also saw participation from ITI Growth Opportunities Fund, Vimson Group, and Global South Capital.

The startup plans to use the raised funds to increase production capacity, expand its product range, and drive other growth initiatives.

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Founded in 2015 by Sameer Narang and Rishab Purias, Gurgaon-based Indigrid designs and manufactures embedded electronic systems for the automotive and consumer appliance sectors.

Its products include motor controllers, DC-DC converters, and regulator rectifiers for automotive OEMs, as well as control systems for appliances and battery pack assemblies for EVs and drones.

Indigrid has a manufacturing facility in Gurugram and recently added a unit in Goa, with land secured there for a larger production facility.

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