Electronics manufacturing startup Indigrid Technology has raised Rs 40 crore (about $4.4 million) in a Series A funding round led by Cactus Partners, with participation from Valour Capital, ITI Growth Opportunities Fund, Vimson Group, and Global South Capital.
The fundraising comes months after the company secured $4 million (approximately Rs 35.2 crore) in September last year as part of a strategic round from existing investor Cactus Partners — signalling continued investor confidence in its growth trajectory.
Founded in 2015 by Sameer Narang and Rishab Purias, Indigrid develops and manufactures embedded electronic systems for the automotive and consumer appliance sectors. Over the years, the company has built capabilities across critical components such as motor controllers, DC-DC converters, and regulator rectifiers for automotive OEMs. It also manufactures control systems for consumer appliances and battery pack assemblies for EVs and drones.
The fresh capital will be deployed to expand manufacturing capacity, strengthen research and development capabilities, support working capital requirements, and explore integration opportunities across the value chain. As India sharpens its focus on domestic electronics manufacturing and EV adoption, players like Indigrid are positioning themselves deeper within the supply ecosystem.
Indigrid currently operates a manufacturing facility in Gurugram and has recently set up an additional unit in Goa. The company has also secured land in Goa for a larger production facility, reflecting its long-term capacity expansion plans.
On the financial front, the startup reported revenue of Rs 108.5 crore in FY25 and expects to scale to between Rs 200 crore and Rs 250 crore in FY26. It also holds an order book of around Rs 600 crore for FY27 — offering visibility into sustained demand across its segments.
With sectoral tailwinds across automotive electronics, EV components, and appliance systems, Indigrid’s latest raise underlines a broader momentum within India’s electronics manufacturing ecosystem — where scale, integration, and technological depth are increasingly shaping the next phase of growth.
