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Indigrid Technology, Creme Castle raise early-stage funding

VCCircle

VCCircle · 1y ago

Indigrid Technology, Creme Castle raise early-stage funding

Indigrid Technologies, a maker of electric vehicle components, has raised $5 million in funding to expand its production capacity and strengthen its team. The funding round was led by Cactus Venture Partners. Indigrid aims to expand its presence in the Indian and global markets and improve its product offerings. Meanwhile, bakery brand Crème Castle has raised $838,077 in seed funding to expand its presence across 15 cities in India and set up a central facility in Uttar Pradesh. The funding round was backed by investors including V3 Ventures and Amit Jain from CarDekho.

Related News

Creme Castle raises Rs 7 crore seed funding from V3 Ventures

Economic Times

Economic Times · 1y ago

Creme Castle raises Rs 7 crore seed funding from V3 Ventures

Indian bakery start-up Creme Castle has secured Rs 7 crore in seed funding from V3 Ventures, led by venture capitalist Arjun Vaidya, and other investors. The funding comes as the bakery market in India is projected to grow by 11-12% between 2024 and 2028, reaching sales of Rs 1,850 billion by FY2028. Creme Castle plans to expand into 15 new markets by FY2025 and currently delivers across over 20 pin codes. The company generates over half of its revenue through its own platform and the rest from aggregators like Zomato and Swiggy.

EV Component Maker Indigrid Technology Bags $5 Mn

Inc42 · 1y ago

EV Component Maker Indigrid Technology Bags $5 Mn

Indigrid Technology, a full stack EV component provider, has raised funding in a round led by Cactus Partners. The funding will be used to expand production capacity and invest in research and development for its EV and ESDM verticals. Founded in 2015, Indigrid Technology has in-house design and manufacturing capabilities.

Indigrid Technology raises Rs 35 crore from Cactus Partners at Rs 600 crore valuation - The Economic Times

Economic Times

Economic Times · 5m ago

Indigrid Technology raises Rs 35 crore from Cactus Partners at Rs 600 crore valuation - The Economic Times

Indigrid Technology, an electronics systems design and manufacturing startup, secured Rs 35 crore in follow-on funding from Cactus Partners, valuing the company at Rs 600 crore. The funding will support expanding production capacity for power electronics in a new Goa facility. Originally focusing on automotive components, Indigrid is now entering consumer electronics, collaborating with OEMs, and aiming for global market presence. The company's revenue is projected to grow significantly in the coming years.

IndiGrid raises $4 Mn led by Cactus Venture Partners

Entrackr

Entrackr · 5m ago

IndiGrid raises $4 Mn led by Cactus Venture Partners

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. “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,” said Sameer Narang, co-founder of IndiGrid Technology. The latest round comes more than a year after Cactus Partners led IndiGrid’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.

Pakistan's i2i Ventures taps offshore LP for maiden fund

VCCircle

VCCircle · 2y ago

Pakistan's i2i Ventures taps offshore LP for maiden fund

Pakistan's early-stage venture capital firm, i2i Ventures, is planning to raise capital from an overseas limited partner for its first fund. The i2i Venture Capital Fund I LP is aiming to raise up to $15 million to invest in pre-seed and seed-stage technology startups in Pakistan. The move reflects increasing interest and investment potential in Pakistan's tech startup ecosystem.

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

Entrackr

Entrackr · 9d ago

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

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.

Former KKR India CEO Sanjay Nayar's maiden tech fund gets cheque from new LP

VCCircle

VCCircle · 1y ago

Former KKR India CEO Sanjay Nayar's maiden tech fund gets cheque from new LP

Sorin Investments, an early-stage venture capital firm co-founded by former KKR India CEO Sanjay Nayar and Angad Banga of Caravel group, has secured a new limited partner for its maiden tech fund. The fund, called Sorin Investment Fund, aims to raise funds for investing in early-stage technology startups. Nayar's extensive experience in the private equity sector adds credibility to the fund, which is expected to attract further investments.

Inflexor Ventures names two partners to beef up top deck

VCCircle

VCCircle · 1y ago

Inflexor Ventures names two partners to beef up top deck

Inflexor Ventures, a technology-focused venture capital firm, has promoted Harsha Mundhada and Murali Krishna Gunturu to partners, strengthening its leadership team. Both have been key contributors since Inflexor's early days under the Parampara Capital banner. The firm, founded by Venkat Vallabhaneni and Jatin Desai in 2019, is preparing to raise Rs 1,250 crore for its next fund. Inflexor focuses on early-stage technology-driven investments across diverse sectors.

KKR-backed IndiGrid secures $300 mn funding for new green energy platform

VCCircle

VCCircle · 1y ago

KKR-backed IndiGrid secures $300 mn funding for new green energy platform

KKR-backed IndiGrid has secured $300 million funding from overseas development financiers to establish a green energy platform in India. The funding was provided by British International Investment, Norwegian Climate Investment Fund, and KLP. The new platform, called EnerGrid, will focus on developing greenfield transmission and standalone battery energy storage system projects in India. IndiGrid is the country's first infrastructure investment trust in the power sector and has assets under management of over Rs 29,700 crore. The funding will help IndiGrid create a growth pipeline in the under-construction space and meet India's increasing power demand.

Unicorn sightings become rare as VCs shun that leap of faith

Economic Times

Economic Times · 1y ago

Unicorn sightings become rare as VCs shun that leap of faith

Early-stage startups are struggling to attract "leap of faith capital" as investors focus on late-stage companies. While early-stage deals are happening, big investors like SoftBank and Tiger Global are more inclined towards established startups and potential IPOs. Only two startups have become unicorns this year, compared to the previous year's total of two. The investment process for new firms is still lengthy, and funding is primarily limited to fast-growing and profitable companies. However, there is optimism that ventures fixing their economics will be able to raise significant capital in the future.

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