Viridian Ingni Propulsion is a deep technology company based in Chennai. Viridian Ingni Propulsion has raised ₹1.47 crore in a pre-seed funding round. Inflection Point Ventures led the investment round. The startup received ₹53.75 lakhs in grants. It is non-dilutive in nature from various governmental and institutional agencies. These include SIPCOT, MeitY Startup Hub, NIDHI PRAYAS, IIT Madras Research Park RTBI program, and the CSR funds of the company.
Foundation and capital allocation
Established in February 2024 by Sriram G., Viridian Ingni Propulsion is based in Chennai as a deeptech company dealing in the clean energy and mobility sector. The vision of Viridian Ingni Propulsion is about developing innovative, efficient, and sustainable electric propulsion systems that can be used to propel the next generation of clean transport, robotics, and automation.
The startup will achieve this through the design of customized motor configurations such as ferrite PMa-SynRM motors and permanent magnet synchronous motors that help in minimizing the environmental footprint of its operations while developing high-quality motors, controllers, and firmware for electric vehicles and drones.
Capital funds will be used for manufacturing Tooling Requirements, establishment of a separate pilot manufacturing line, and mandatory regulatory compliance processes such as ARAI Certification & ICAT Certification.
The capital will be utilized in validating the motor controller firmware, hiring a select group of team members, and the working capital that is essential to initiate delivery of customer fleets as the company transitions to commercialization.
Proprietary motor technologies and organizational status
Viridian Ingni Propulsion designs and develops unique motor technologies for various industrial and transportation applications. PMa-SynRM motors, which are specifically designed motors with rare-earth-free ferrite permanent magnets, are applied to special fields including electric rickshaws, electric two-wheelers, heating, ventilation, and air conditioning systems, industrial compressors, and solar pumps.
Its permanent magnet synchronous motors (PMSM) are being used in high-precision applications such as aerial drones, collaborative robots, automated guided vehicles, and marine electric propulsion systems.
Viridian Ingni Propulsion, which exists at a pre-revenue stage with a small, focused engineering team of five, has already garnered early commercial interest from sector partners.
The company has formally secured 350 electric motors from 2 potential corporate customers, Crop Xplore and Yali Mobility. The orders are preliminary and represent commercialization validation of the company’s motor architectures for initial runs.
Conclusion
Viridian Ingni Propulsion has successfully raised ₹1.47 crore pre-seed funding from Inflection Point Ventures and also achieved institutional grants of ₹53.75 lakh. The deeptech startup receives deep technical foundational from IIT Madras Research Park and its leadership team, who are founder’s Sriram G, to advance rare earth-free permanent magnet synchronous motor technologies. Viridian Ingni Propulsion will be able to play a significant role in India’s growing electric mobility, robotics, and industrial automation industries as it invests this capital to set up the pilot production plant and earn regulatory approvals from ARAI and ICAT, while delivering its first letters of intent for 350 motors.
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