Chakr Innovation Secures $23 Million to Scale Clean Tech Solutions
- Chakr Innovation raises $23 million in Series C funding led by Iron Pillar.
- Funds will expand manufacturing, boost R&D, and support global expansion.
- Startup also developing indigenous energy storage to cut lithium-ion dependence.
Deep-tech startup Chakr Innovation has raised $23 million (Rs 193.5 crore) in its Series C round, led by Iron Pillar, with participation from existing investors SBI Cap Ventures, ONGC, IAN, and Inflexor. Ambit Private Limited served as the exclusive financial advisor for the deal.
The startup said the fresh capital will expand manufacturing capacity, strengthen research and development, and accelerate international growth. A key focus is the development of indigenous Aluminium-Air battery technology, designed as a sustainable alternative to lithium-ion batteries.
“Our mission is to help industries operate sustainably while supporting the vision of Atma Nirbhar Bharat”, said Kushagra Srivastava, founder and CEO of Chakr Innovation. He added that the funding will also help establish India’s first dedicated materials science centre.
Chakr Innovation is best known for Chakr Shield, a retrofit emission control device for diesel generators that reduces harmful emissions by more than 80%. The company has installed over 5,000 units across 2,000 customers, preventing more than 2.5 million tonnes of CO₂ equivalent emissions.
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Founded in 2016 by IIT Delhi graduates, the startup now employs 450 people, including 200 engineers and scientists, and operates manufacturing plants in Gurugram and Pune. With more than 42 patent applications, Chakr is also working on DeNOx technology, IoT-based generator monitoring, and metal-air battery solutions.
