Viridian Ingni Propulsion Raises Rs 1.47 Cr Pre-Seed Round
Chennai-based deeptech startup Viridian Ingni Propulsion has raised Rs 1.47 crore in a pre-seed round led by Inflection Point Ventures (IPV).
The company has also received Rs 53.75 lakh in grants from SIPCOT, MeitY Startup Hub, NIDHI PRAYAS, IIT Madras Research Park's RTBI programme and Cummins CSR.
Founded in February 2024 by Sriram G, Viridian develops electric propulsion systems, including motors, controllers and firmware, for electric vehicles, drones, robotics and industrial machinery. The startup is incubated at IIT Madras Research Park.
It builds different motor types for different applications. Its rare-earth-free ferrite PMa-SynRM motors are designed for e-rickshaws, two-wheelers, HVAC systems, compressors and solar pumps. Its permanent magnet synchronous motors (PMSM) target drones, collaborative robots, automated guided vehicles and marine applications.
Newsletter
The corridor, every morning.
Funding rounds and cross-border capital moves, one email, five minutes.
The company will use the funds to move from validated prototypes to pilot production. The capital will support manufacturing tooling, setting up a pilot production line, ARAI and ICAT certification, motor controller firmware validation, hiring and working capital for initial customer deliveries.
Viridian currently has a five-member engineering team and is pre-revenue.
The startup has received letters of intent for 350 motors from two customers, Crop Xplore and Yali Mobility.
More in Funding
