EV Technology Startup Indigrid Technology Secures $5M from Cactus Partners

Indigrid Technology intends to use this financing to develop its production capacity in the EV component area.

Indigrid Technology, an electric car component business, has raised $5 million from Cactus Partners, an early growth-stage venture capital fund. This is the startup’s first institutional round. Indigrid Technology, which has manufacturing operations in Manesar, Haryana, plans to use the funds to increase production capacity, broaden product offerings, and pursue other expansion opportunities. “This investment will allow us to increase our product development efforts, ensuring that we stay ahead of the fast-growing demand curve in the constantly evolving EV market. Indigrid co-founders Sameer Narang and Rishab Puri stated, “Our focus on creating high-quality and reliable products is paramount, and this partnership will support and enhance that mission.”

Indigrid is a creative and forward-thinking corporation committed to transforming electric mobility in India. As a devoted team, we are dedicated to offering cutting-edge solutions that will speed the adoption of electric vehicles. From innovative battery packs to robust charging infrastructure, we seek to provide dependable, efficient, and long-term solutions that meet our customers’ growing needs. Indigrid is leading the way to a greener, more sustainable future by focusing on customer satisfaction and business responsibility.

Indigrid Technology is developing a variety of electric vehicle components and systems. One of our core solutions is the battery pack assembly, which includes lightweight and interchangeable modular battery packs for two and three-wheeler EVs. To assure high-quality battery packs, the company has also signed a strategic exclusive manufacturing agreement with Murata Business Engineering India Pvt Ltd, a prominent manufacturer of electrical components.

The company also provides high-performance and dependable powertrain and EV ecosystem solutions for two and three-wheeler EVs. Comprehensive Fleet & Asset Management solutions enable real-time tracking of EVs and their performance. Overall, the company’s focus on developing creative solutions for electric vehicles, combined with its diverse skills, makes it a reliable and capable partner for any corporation seeking to convert to electric transportation.