IndiGrid Technology, a Gurugram-based electronics system design and manufacturing (ESDM) startup, has raised $4 million (₹35.2 crore) in a strategic funding round from existing investor Cactus Partners.
The company had earlier secured $7.72 million from the same investor. Proceeds from this round will be directed towards expanding production capacity and product portfolio, enhancing automation, scaling hiring, and broadening presence across India and global markets.
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. Its product line includes battery packs, motor controllers, vehicle control units, and EV drivetrain components.
Over the past year, IndiGrid has diversified beyond the automotive sector into consumer electronics, onboarding clients such as Hella, Rosenberger, Sensetek, Sandhar, IFB, and Revolt.
In FY25, the company reported ₹108.5 crore in revenue and is targeting a top line of ₹350–380 crore in FY26. IndiGrid currently operates at high single-digit EBITDA margins and projects double-digit margin growth in the next two years.
Co-founder Sameer Narang noted, “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.”
This funding comes over a year after Cactus Partners led IndiGrid’s $5 million Series A in June 2024, further strengthening its long-term partnership with the startup.
By: Arushi Agarwal
