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Circuit House Technologies raises $4.3 Mn

EntrackrEntrackr · 1y ago
Circuit House Technologies raises $4.3 Mn
Medial

Consumer electronics manufacturer Circuit House Technologies has secured $4.3 million in a new investment round co-led by Stellaris Venture Partners and 3one4 Capital. The round also witnessed participation from Mamaearth co-founder Varun Alagh and Tracxn Co-founder Abhishek Goyal. This is the first institutional funding for the startup. The proceeds will be used to build the next-generation Indian consumer tech company and offer cutting-edge home entertainment products, Circuit House said in a press release. Co-founded in March 2024 by Reddy and Kailash S, Circuit House offers consumer electronic products. The company claims to offer consumer products that are related to the connected devices segment. The platform focuses on the innovation of consumer tech, including android/android TV platforms. According to the Bengaluru-based company, it will develop and sell consumer electronic products, starting with products in the home entertainment category that will be launched early next year. The other notable players in this space are Miko, GOQii, CWD Limited, Boat, Noise and others.

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Chara Technologies raises $6 Mn in Series A led by Arkam Ventures

EntrackrEntrackr · 5m ago
Chara Technologies raises $6 Mn in Series A led by Arkam Ventures
Medial

Chara Technologies raises $6 Mn in Series A led by Arkam Ventures Chara Technologies, a deep-tech powertrain solutions company developing rare-earth-free motors and controllers, has raised Rs 52 crore (about $6 million) in Series A funding round led by Arkam Ventures along with participation from Exfinity Venture Partners, Kalaari Capital, and IIMA Ventures. The Bengaluru-based company had previously raised $4.75 million in its pre Series A funding round led by Exfinity Venture Partners. The funds will be used to set up a new Bengaluru factory, launch advanced motor variants, and enhance its powertrain and in-house tech capabilities, Chara Technologies said in a press release. Co-founded in 2019 by Bhaktha Keshavachar, Mahalingam Koushik, and Ravi Prasad, Chara Technologies specializes in the development of rare-earth-free electric motors and controllers for various applications, including Electric vehicles, both on-highway and off-highway, Industrial applications, and Agricultural equipment. According to Chara Technologies, it has built a synchronous reluctance architecture that eliminates magnets entirely, making its motors 15-20% more cost-effective and significantly more sustainable, while still matching the performance of PMSMs (Permanent magnet synchronous motors). Its products deliver improved vehicle range, reduce energy losses, and lower total cost of ownership (TCO). Chara’s proprietary motor control algorithms, power electronics architecture, and software form the foundation of its end-to-end powertrain system, enabling superior system efficiency and scalability across applications. The firm boasts of close to 100 customers, including Greaves Cotton, BullWork, Sonalika, VST, and European OEMs. With Greaves Cotton, Chara has entered into a strategic partnership to jointly manufacture rare-earth-free synchronous reluctance motors and controllers at Greaves. With footprints in Belgium and Italy, Chara plans to target North America and a deeper presence in Europe. The company is also targeting a 6x top line growth, from FY25 to FY26, with a goal of selling 40,000 motors by FY27.

Mindgrove raises $8 Mn in Series A funding round

EntrackrEntrackr · 1y ago
Mindgrove raises $8 Mn in Series A funding round
Medial

Mindgrove Technologies, a fabless semiconductor design startup, has raised $8 million in a Series A funding round co-led by Rocketship.vc and Speciale Invest. The round also witnessed participation from Mela Ventures and existing investors Peak XV Partners, Nishchay Goel, Whiteboard Capital, and Anshul Goel. The Chennai-based startup had previously secured $2.325 million in seed funding from Peak XV Partners (formerly Sequoia Capital India & SEA), Speciale Invest, and Whiteboard Capital back in early 2023. The proceeds will be utilized to expand its workforce, enhance its in-house engineering capabilities, and accelerate production and sales of the first chip, Mindgrove said in a press release. Co-founded in 2021 by Sharan Jagathrakshakan and T.R. Shashwath, Mindgrove is incubated by IITM Pravartak Technologies Foundation and IIT Madras Incubation Cell. The company designs high-performance SoCs with advanced features at competitive prices for the Indian and global markets. According to Mindgrove, it has launched “Secure IoT,” a commercial-grade high-performance microcontroller SoC (System-on-Chip) taped out at 28nm. Designed for electronic devices that are transforming into “smart” connected devices like watches, meters, locks, and access control units, as well as for powering devices like printers and PoS machines. The chip is on schedule to reach the market by mid-2025. Mindgrove has received approval under the Government of India's Semiconductor Design Linked Incentive (DLI) scheme, amounting to Rs 15 crore, for developing a new chip, “Vision SoC,” meant for high-performance edge computing and vision processing applications — CCTV cameras, dashcams, video recorders, ADAS, smart TVs, and more.

Deeptech startup Planys raises $4 Mn

EntrackrEntrackr · 1y ago
Deeptech startup Planys raises $4 Mn
Medial

Deeptech startup Planys Technologies has raised $4 million in its ongoing pre-Series A round. The fresh investment tranche has come after a gap of more than two years for the Chennai-based firm. The board at Planys Technologies has passed a board resolution to issue 8,471 CCPS at an issue price of Rs 41,600 each to raise Rs 35.23 crore, its regulatory filing accessed from the Registrar of Companies shows. Himalaya Finance, Golden Birch Investments, Krishna Defence, Impact India Investments, SiriusOne Capital, and several individuals including Ashish Ramesh Kacholia, Shalini Chhabra, and Puneet Gupta participated during the new investment tranche. The company also approved its MSOP pool of 1,445 equity shares amounting to Rs 6 crore (as per the valuation report) in February, a separate filing shows. Established in 2015 by Tanuj Jhunjhunwala and Rakesh Sirikonda, Planys does underwater inspection by offering secure and adaptable solutions through marine robotics and analytics systems. The company has been working on over 350 projects with its 10 products across 5 countries. It also has more than 30 patents under its belt. Planys Technologies has raised around $8 million to date including a $1.6 million round led by Keiretsu Forum, LetsVenture in November 2021. According to the startup data intelligence platform TheKredibe, the company has been valued at around Rs 135 crore (post-money) in the new tranche. Unlike other startups, Planys hasn’t been growing at a rapid clip and this could be evident from its flat scale which grew to Rs 8.63 crore in FY23 as compared to Rs 7.41 crore in FY22. Moreover, the firm’s losses also spiked 3.2X to Rs 3.51 crore in the same period.

Manufacturing startup Whizzo raises $15 Mn in a Series A led by Fundamentum

EntrackrEntrackr · 2m ago
Manufacturing startup Whizzo raises $15 Mn in a Series A led by Fundamentum
Medial

Materials science–based manufacturing startup Whizzo has raised $15 million in a Series A funding round led by Fundamentum, with participation from Korea-based deep-tech investor LB Investment and existing backers Lightspeed Venture Partners and BEENEXT. This marks LB Investment’s first direct investment in India, while Whizzo had previously secured $4.2 million in its seed round from Lightspeed and BEENEXT in January last year. The fresh capital will be used to invest in materials science research, develop in-house intellectual property, and enter fundamental research. Whizzo also plans to strengthen its R&D and supply-chain capabilities across India, Vietnam, China, Bangladesh, and Indonesia, while expanding its science and engineering team with researchers specialising in non-woven technologies and composites. Founded in 2024 by Zetwerk alum Shrestha Kukreja, Whizzo positions itself as India’s first Contract Development and Manufacturing Organisation (CDMO) platform for technical textiles. The company integrates materials research, formulation, prototyping, process engineering, and commercial-scale manufacturing under one roof. Whizzo operates in the technical textiles segment, which includes engineered materials used across infrastructure, agriculture, protective wear, and industrial applications. The global technical textiles market is currently valued at over $250 billion and is expected to cross $400 billion by 2030, driven by strong growth across application segments. The Bengaluru-headquartered startup currently works with more than 120 SME and MSME manufacturing partners and exports to over 15 countries. Over the next 12 months, Whizzo plans to double its export footprint to more than 30 countries and expand its manufacturing network. Around 40% of the company’s revenue comes from exports. Whizzo is backed by a 65-member team, with about 10% focused on research, including polymer science, process engineering, and advanced textile technologies.

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