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Electronics manufacturing startup Indigrid Technology raises Rs 40 Cr in Series A

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Electronics manufacturing startup Indigrid Technology raises Rs 40 Cr in Series A
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Electronics manufacturing startup Indigrid Technology raises Rs 40 Cr in Series A Electronics manufacturing startup Indigrid Technology has raised Rs 40 crore ($4.4 million) in a Series A funding round led by Valour Capital, with participation from ITI Growth Opportunities Fund, Vimson Group, and Global South Capital. Earlier in September last year, Indigrid had raised $4 million (about Rs 35.2 crore) as part of a strategic funding round from existing investor Cactus Partners. The fresh capital will be used to expand manufacturing capacity, strengthen research and development capabilities, support working capital requirements, and explore integration opportunities across the value chain. Founded in 2015 by Sameer Narang and Rishab Purias, Indigrid develops and manufactures embedded electronic systems for automotive and consumer appliance sectors. Indigrid manufactures products such as motor controllers, DC-DC converters, and regulator rectifiers for automotive OEMs, along with control systems for consumer appliances and battery pack assemblies for EVs and drones. Indigrid operates a manufacturing facility in Gurugram and has recently set up an additional unit in Goa. It has also secured land in Goa to establish a larger production facility. The startup claims to have reported revenue of Rs 108.5 crore in FY25 and expects revenue between Rs 200 crore and Rs 250 crore in FY26. It also has an order book of around Rs 600 crore for FY27.

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IndiGrid raises $4 Mn led by Cactus Venture Partners

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IndiGrid raises $4 Mn led by Cactus Venture Partners
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IndiGrid raises $4 Mn led by Cactus Venture Partners Electric vehicle (EV) component maker IndiGrid Technology has raised $4 million (about Rs 35.2 crore) as part of a strategic funding round from existing investor Cactus Partners. Electronics systems design and manufacturing startup IndiGrid Technology has raised $4 million (about Rs 35.2 crore) as part of a strategic funding round from existing investor Cactus Partners. The proceeds will be allocated towards expanding production capacity and offerings, enhancing automation, ramping up hiring and broadening presence both in India and other global markets, IndiGrid Technology said in a press release. Co-founded in 2015 by Sameer Narang and Rishab Puri, IndiGrid Technology is a full stack electronics component manufacturer with in-house design and manufacturing capabilities. The electronics system design and manufacturing (ESDM) startup makes battery packs, motor controllers, vehicle control units, components for EV drivetrains, among others. โ€œHaving 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,โ€ said Sameer Narang, co-founder of IndiGrid Technology. The latest round comes more than a year after Cactus Partners led IndiGridโ€™s $5 million Series A round in June 2024. Since then, the company has diversified into consumer electronics and now also caters to companies like Hella, Rosenberger, Sensetek, Sandhar, IFB, Revolt, among others. IndiGrid reported a revenue of Rs 108.5 crore in the fiscal year 2024-25 (FY25) and it is targeting a top line of Rs 350 crore to Rs 380 crore in FY26. It claims to operate at high single-digit EBITDA margin and projects to clock double-digit EBITDA margin growth in the next couple of years.

Cactus Partners leads $7 Mn Series A round in Brandworks Technologies

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Cactus Partners leads $7 Mn Series A round in Brandworks Technologies
Medial

Cactus Partners leads $7 Mn Series A round in Brandworks Technologies Early-growth venture capital fund Cactus Partners (CPL) has led a $7 million (Rs 61 crore) Series A round in Brandworks Technologies, a fast-growing electronics R&D and manufacturing company. The round also saw participation from Gujarat Venture Finance Limited (GVFL), Legacy Assets, and the Hira Group. The fresh capital will be used to expand R&D centers, enter key global markets, invest in next-gen product platforms, and scale manufacturing with new high-efficiency production lines. It also plans to hire top engineering and operations talent to strengthen its innovation capabilities. Founded by Ishwar Kumhar and Nikita Kumawat, Brandworks specializes in next-generation electronics design and manufacturing, delivering solutions across AI hardware, IoT, advanced audio systems, charging technologies, financial devices, surveillance systems, and renewable energy products. The firm partners with leading global chipmakers to co-create technology with a focus on design excellence, manufacturing precision, and customer success. This is Cactus Partnersโ€™ 11th investment from its maiden fund and its third in the manufacturing sector, following previous bets on companies like Lohum, Indigrid, Intangles, and Vitraya.

Emiza raises Rs 100 Cr in Series C round

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Emiza raises Rs 100 Cr in Series C round
Medial

Emiza raises Rs 100 Cr in Series C round Supply chain and warehousing startup Emiza has mopped up its Rs 100 crore (approximately $12 million) Series C funding round co-led by Evolvence India and Mirabilis Investment Trust. The round, which came at a valuation of Rs 400 crore (nearly $50 million), comprised a mix of primary and secondary investments, enabling exit for some early investors. The proceeds will be utilized to drive innovation, enhance warehouse technology, improve automation, and expand its footprint with new facilities, Emiza said in a press release. Co-founded in 2015 by Ajay Rao and Jitendra Kumar, Emiza provides logistics and delivery management solutions for e-commerce businesses. It offers warehousing and fulfillment solutions and uses technology and processes to optimize and manage the storage and distribution of inventory. Emiza states that it has emerged as a key enabler in this ecosystem, delivering customized warehousing and fulfilment solutions that elevate customer experiences and drive operational excellence for its partners. The company has recorded 40% year-on-year growth to Rs 102 crore during the fiscal year ended March 2024. However, the profits for the firm dwindled to Rs 2.6 crore in FY24, compared to Rs 4.98 crore in FY23.

MS Dhoni-backed Garuda Aerospace raises Rs 100 Cr in Series B round

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MS Dhoni-backed Garuda Aerospace raises Rs 100 Cr in Series B round
Medial

MS Dhoni-backed Garuda Aerospace raises Rs 100 Cr in Series B round Drone technology startup Garuda Aerospace has raised Rs 100 crore ($11.6 million) in its Series B funding round led by Venture Catalysts (VCAT) at a post-money valuation of $250 million. Previously, the firm had raised $22 million in its Series A round led by Venture Capital firm SphitiCap in February 2023. The fresh proceeds will be used to scale up drone manufacturing, enhance production capabilities, and complete an R&D and testing center focused on defense drone technology. Founded in 2015 by Agnishwar Jayaprakash, Garuda has grown to a team of over 200 members and manufactures 30 drone types while offering 50 services. Garuda currently holds over 20 patents and operates a fleet of over 400 drones with 500 trained pilots across 84 cities. It serves clients including government agencies and major corporations such as TATA, Reliance, and Adani. It has also partnered with global companies like Lockheed Martin and Elbit Systems. As per TheKredible, Garuda Aerospaceโ€™s revenue from operations grew by 2.3X to Rs 110 crore in FY24 from Rs 47 crore in FY23. Its net profit reached Rs 16 crore in FY24, a 2.7X increase from Rs 6 crore in the previous year. Garuda competes with the likes of ideaForge, Aarav Unmanned Systems, Throttle Aerospace Systems, General Aeronautics, and Omnipresent Robot Tech in the drone manufacturing and drone-as-a-service (DaaS) segment across defense, agriculture, and industrial applications.

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