Viridian Ingni Propulsion raises Rs 1.47 crore to build full electric drive systems in India

Viridian Ingni Propulsion, a Chennai deeptech startup, has raised Rs 1.47 crore in a pre-seed round led by Inflection Point Ventures, according to Entrackr, ETEntrepreneur and The Hindu BusinessLine. It has also received Rs 53.75 lakh in grants from SIPCOT, MeitY Startup Hub, NIDHI PRAYAS, IIT Madras Research Park's RTBI programme and Cummins CSR.

Founded in February 2024 by Sriram G, the company designs and validates the motor, the controller and the firmware in house and sells them as a single validated propulsion unit. Most Indian suppliers build only one part of that stack. Target uses include electric vehicles, drones, robotics and industrial machinery.

The technology choice changes by application. ETEntrepreneur reported that its rare-earth-free ferrite PMa-SynRM motors are meant for e-rickshaws, two-wheelers, HVAC systems, compressors and solar pumps, while rare-earth permanent magnet motors are aimed at drones, collaborative robots, automated guided vehicles and marine uses where power density matters. The company says a shared design platform cuts the cost and time of building for a new application and reduces dependence on imported rare-earth magnets from China.

The money will take Viridian from validated prototypes to pilot production: motor-stamping tools and dies, a pilot line and small manufacturing facility, ARAI and ICAT certification, controller firmware validation, hiring and working capital for first deliveries. The five-person team is pre-revenue and holds letters of intent for 350 motors from Crop Xplore and Yali Mobility.