Indigrid Technology has secured Rs 40 crore in additional capital, taking the total size of its extended Series A round to Rs 75 crore. The funding round was led by Cactus Partners, with participation from Valour Capital, ITI Growth Opportunities Fund, Vimson Group, and Global South Capital.
Previously, in September last year, the company had raised $4 million (approximately Rs 35.2 crore) in a strategic round from existing investor Cactus Partners. With the latest infusion, Indigrid aims to scale up production capacity across its recently commissioned facilities, enhance its technology and process capabilities, strengthen research and development, support working capital needs, and assess strategic acquisitions to broaden its presence across key electronics segments.
Founded in 2015 by Sameer Narang and Rishab Puri, Indigrid operates as an integrated electronics manufacturing services provider across EMS, ESDM, and ODM verticals. The company develops and produces embedded electronic systems catering to automotive and consumer appliance sectors. Its portfolio includes motor controllers, DC-DC converters, regulator rectifiers for automotive OEMs, control systems for consumer appliances, and battery pack assemblies for electric vehicles and drones.
Indigrid states that it has built a unified manufacturing platform serving over 35 marquee clients by combining design, engineering, testing, and large-scale production capabilities under one umbrella. The company currently runs three advanced manufacturing facilities across Manesar and Goa, including a unit in Gurugram, and has secured additional land in Goa to establish a larger production facility as part of its long-term expansion roadmap.
Commenting on the investment, co-founders Rishab Puri and Sameer Narang said, “We are excited to welcome Valour, Vimson group, ITI Growth, and Global South Capital on board. This investment endorses our vision and provides the strategic capital needed to accelerate our ambitious expansion plans in high-growth electronics verticals. Earlier investments from Cactus Partners provided us a strong base and knowledge for growing into a large business, and this new investment will further strengthen our footing in the domain.”
Karan Goshar, Managing Partner of Valour Capital said, “Indigrid Technology is building critical capabilities for India’s industrial resilience and their integrated model is a strong platform for the ‘China-plus-one’ shift.” Mohit Gulati, Managing General Partner at ITI Growth Opportunities Fund, added, “Indigrid’s technology focus in high growth electronics sector gels well with our investment thesis.”
Mragank Jain, Managing Partner at Global South Capital, stated, “Indigrid’s remarkable growth places it perfectly to capture the manufacturing localisation opportunity, and we will support the company in its global expansion and M&A.”
Rajeev Kalambi, General Partner at Cactus Partners, added, “From our earliest conversations with the Indigrid team, we saw their capabilities and potential to build a scaled, integrated manufacturing platform. Over the past few years, we have worked alongside the team to sharpen execution and governance, and this follow-on raise is a strong validation of the platform they have built and the long-term opportunity ahead.”
