Indigrid Technology, a startup that designs and makes electronic systems, has raised $4 million (about INR 35.2 crore) in a strategic funding round from Cactus Partners.
The startup plans to use the funding to increase production, enhance automation, hire more employees, and expand its operations both in India and internationally.
“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.
Founded in 2015 by Sameer Narang and Rishab Puri, Indigrid Technology is a complete electronics manufacturer that handles both design and production in-house.
Based in Delhi NCR, the ESDM startup produces battery packs, motor controllers, vehicle control units, EV drivetrain components, and other electronic products.
The company reported 3–3.5 times revenue growth in FY25, rising from INR 70 crore in FY24.
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