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.