Cleantech startup Chakr Innovation raises $23 Mn led by Iron Pillar

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New Delhi-based cleantech startup Chakr Innovation has raised $23 million (Rs 193.5 crore) in its Series C round led by Iron Pillar. The round also saw participation from existing investors including SBI Cap Ventures, ONGC, IAN, and Inflexor.

The fresh capital will be deployed to expand manufacturing capacity, drive international growth, and strengthen backward integration. A significant portion will also go into R&D investments, particularly in indigenous energy storage technologies aimed at reducing India’s reliance on lithium-ion batteries.



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Cleantech startup Chakr Innovation raises $23 Mn led by Iron Pillar


New Delhi-based cleantech startup Chakr Innovation has raised $23 million (Rs 193.5 crore) in its Series C round led by Iron Pillar. The round also saw participation from existing investors including SBI Cap Ventures, ONGC, IAN, and Inflexor.

The fresh capital will be deployed to expand manufacturing capacity, drive international growth, and strengthen backward integration. A significant portion will also go into R&D investments, particularly in indigenous energy storage technologies aimed at reducing India’s reliance on lithium-ion batteries.



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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