IndiGrid Technology, a full-stack electronics and EV component manufacturer, has raised $4 million (Rs 35.2 crore) in a strategic funding round from its existing backer Cactus Partners. This follows the company’s earlier funding of $7.72 million from the same investor.
Growth-Focused Capital Use
The funds will be channelled into expanding production capacity, automating processes, ramping up hiring, and extending market presence across India and international geographies. The company also plans to strengthen its product range for the rapidly growing EV and consumer electronics sectors.
Building the EV Backbone
Founded in 2015 by Sameer Narang and Rishab Puri, IndiGrid Technology operates as an electronics system design and manufacturing (ESDM) startup. Its portfolio includes battery packs, motor controllers, vehicle control units, and drivetrain components for EVs. With strong in-house design and manufacturing capabilities, the company serves clients across both mobility and consumer goods.
Diversification Beyond EVs
“Having matured in the automotive industry, we diversified into the consumer goods sector where we began acquiring some key clients,” said Sameer Narang, co-founder of IndiGrid Technology. The startup already works with Hella, Rosenberger, Sensetek, Sandhar, IFB, and Revolt, signaling its growing footprint.
Revenue Momentum
IndiGrid reported Rs 108.5 crore in revenue in FY25 and has set a target of Rs 350–380 crore in FY26. The company currently operates at high single-digit EBITDA margins and aims to achieve double-digit margin growth within the next two years.
Final Take
With strong backing from Cactus Partners and an expanding footprint across EV and consumer electronics, IndiGrid Technology is well-positioned to become a leading player in India’s fast-evolving ESDM ecosystem.
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