IndiGrid Technology Secures $4 Million Led by Cactus Venture Partners
2 min read
Funding Update
IndiGrid Technology, an electronics systems design and manufacturing (ESDM) startup, has secured $4 million (₹35.2 crore) in fresh funding led by existing investor Cactus Venture Partners. The capital will fuel production scale-up, product diversification, and international growth.
Founded in 2015 by Sameer Narang and Rishab Puri, IndiGrid offers end-to-end electronics manufacturing with in-house design capabilities. It specializes in automotive and electric vehicle (EV) components, including battery packs, motor controllers, vehicle control units, and drivetrain systems. The company recently expanded into consumer electronics, securing partnerships with industry leaders like Hella, Rosenberger, Sensetek, Sandhar, IFB, and Revolt.
Co-founder Sameer Narang stated, “Having solidified our position in automotive electronics, we’ve strategically diversified into consumer goods to capitalize on growing market opportunities and client demand.”
This round follows earlier investments of $7.72 million and a $5 million Series A led by Cactus Venture Partners in June 2024. The funds will support automation, talent acquisition, and domestic and global market expansion.
IndiGrid reported ₹108.5 crore in revenue for FY24–25 and projects ₹350–380 crore for FY26. The company currently operates at high single-digit EBITDA margins and aims to achieve double-digit margins within two years.
Backed by robust investor confidence, a growing client roster, and an innovative product pipeline, IndiGrid is cementing its role as a leader in India’s electronics manufacturing landscape, powering advancements in automotive, EV, and consumer technology sectors.
About Author
