The Indian electronics manufacturing is on the rise with the Indigrid Technology, an electronics systems design and manufacturing (ESDM) startup based at Gurugram, having been able to raise ₹40 crores (approximately $4.4million) in its Series A round. This investment underlines the institutional interest in those companies that are developing niche manufacturing potential to help India move to electric mobility and high-end consumer electronics.

Funding details

The Valour Capital, a leading venture capital firm in the high technology and manufacturing space, led the Series A round. A varied team of strategic and financial investors, such as the ITI Growth Opportunities Fund, Vimson Group and the Global South Capital Fund I, were also present during the round.

This is a capital infusion, subsequent to a follow-on round in late 2025, wherein the firm raised funds with its existing investor, Cactus Partners. Its sustained performance by a combination of new and experienced investors is a sign that the company has been highly performing in its operations and its strategic location in the superior ESDM industry.

Expansion of manufacturing and strategic growth

Indigrid Technology will use the new capital to aggressively expand its production capacity and product diversification. The major target of this growth is the introduction of a new production plant in Goa that will supplement the other plants that the company has in Manesar. This new unit should serve the new power electronics boom in home appliances and other automotive specialized parts.

The startup has accrued considerable experience in the development of e-vehicle (EV) powertrain products, such as sophisticated battery packs and charging infrastructure. In addition to the automotive industry, Indigrid is increasing its services to provide product-level electronic solutions, embedded systems, and PCB assemblies to consumer electronics. Part of the capital will be allocated to the automation of all its assembly lines to enhance efficiency and the recruitment of the best engineering skills to spearhead research and development activities.

Indigrid Technology was founded in 2016 by Rishab Puri and Sameer Narang as a supplier of components to the tier-I automotive suppliers, including Motherson and Hella, but has now become a direct supplier to large original equipment manufacturers (OEMs). Its existing customer base encompasses the likes of JCB, Kinetic, Sandhar, and IFB, and it provides an indication that the company is capable of both industrial and consumer goods markets.

The firm has also stated an impressive growth trend, with the revenue in FY25 surging more than three times what was registered in FY24 at ₹70 crore. Indigrid is shaping up as a serious rival to the traditional giants such as Dixon Technologies and Syrma SGS in the Indian manufacturing ecosystem by keeping its focus on reliable, efficient, and sustainable electronics.

Conclusion

The successful Series A round of ₹40 crore will be a turning point in the history of Indigrid Technology as it prepares to take the subsequent industrial scale. The startup has the resources to close the divide between indigenous design and mass production by gaining the support of Valour Capital and other strategic investors.

With the continued increase in the demand of localized electronics in India, the building of a strong, automated and diversified manufacturing base by Indigrid is likely to be one of the pivots of its objective of becoming a leader in the international electronics supply chain.