Team Startupcity

• Fresh $4M round follows previous $7.72M from Cactus Partners
• Expansion focus: production capacity, automation, hiring & global presence
• FY25 revenue at  Rs 108.5 Cr; aiming  Rs 350–380 Cr by FY26

IndiGrid Technology, a Gurugram-based EV component and electronics system design & manufacturing (ESDM) company, has raised $4 million (approx.  Rs 35.2 crore) in a strategic funding round led existing investor Cactus Venture Partners.

 Sameer Narang and Rishab Puri founded in 2015, IndiGrid specializes in full-stack electronics design and manufacturing, producing battery packs, motor controllers, vehicle control units, and other EV drivetrain components.

The company plans to utilize the capital to scale production capacity, enhance automation, strengthen its workforce, and expand its footprint in both India and global markets.

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“Having established a strong base in the automotive sector, we have strategically diversified into consumer electronics, where we’re seeing strong traction and have onboarded key clients,” said co-founder Sameer Narang.

This investment follows Cactus Partners’ $5 million-led Series A round in June 2024. Since then, IndiGrid has expanded into consumer electronics, now serving brands like Hella, Rosenberger, Sensetek, Sandhar, IFB, and Revolt.

For FY25, the company reported revenue of  Rs 108.5 crore and is targeting  Rs 350-380 crore in FY26, with a vision to grow EBITDA margins from high single digits to double digits over the next few years.