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Chennai based deeptech startup Viridian Ingni Propulsion has raised Rs 1.47 crore in a pre seed funding 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, the startup develops electric propulsion systems, including motors, controllers and firmware, for electric vehicles, drones, robotics and industrial machinery. It is incubated at IIT Madras Research Park. 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 develops different motor technologies for specific applications. Its rare earth free ferrite PMa-SynRM motors are designed for e rickshaws, two wheelers, HVAC systems, compressors and solar pumps, while its permanent magnet synchronous motors (PMSM) target drones, collaborative robots, automated guided vehicles and marine applications. The startup has received letters of intent for 350 motors from two customers, Crop Xplore and Yali Mobility. It currently has a five member engineering team and is pre revenue.
document fetched 2026-10-30 02:57