Chennai-based Entellus Industries has raised Rs 50 crore (about $5.5 million) in its second funding round led by ZeroW.
Entellus had earlier raised $12 million from Silicon Valley–based Social Capital to establish its NdPr metal and bonded powder alloy plants.
The proceeds will be used primarily for capital expenditure to expand Entellus’ manufacturing capabilities into sintered alloys and to commercialise its existing rare earth products.
With this expansion, the firm expects to support a production capacity of around 2,000 tonnes of magnets…
