Deeptech startup Viridian Ingni Propulsion has secured Rs 1.47 crore in a pre-seed funding round led by Inflection Point Ventures (IPV). The investment will help the company transition from validated prototypes to pilot-scale manufacturing of electric propulsion systems for vehicles, drones, robotics and industrial applications.
The startup plans to use the capital to acquire manufacturing equipment, establish a pilot production line and complete certification processes with the Automotive Research Association of India (ARAI) and the International Centre for Automotive Technology (ICAT).
Part of the funding will also support motor and firmware testing, team expansion and working capital requirements as the company prepares for its initial customer deliveries.
Viridian has already received letters of intent for 350 motors from two customers, including Crop Xplore. However, the company remains in its pre-revenue stage and currently operates with a five-member engineering team.
Founded in February 2024 by Sriram G, Viridian Ingni Propulsion is based at IIT Madras Research Park. The startup develops electric propulsion solutions comprising motors, controllers and firmware designed for different industrial and mobility requirements.
Its product portfolio includes rare-earth-free ferrite permanent magnet-assisted synchronous reluctance motors (PMa-SynRM), developed for applications such as electric rickshaws, two-wheelers, HVAC compressors and solar-powered pumps.
The company also develops permanent magnet synchronous motors (PMSMs) for specialised applications, including collaborative robots, automated guided vehicles and marine equipment.
In addition to its latest funding round, Viridian has received Rs 53.75 lakh in grants through several government-backed and institutional initiatives. These include SIPCOT, MeitY Startup Hub, NIDHI PRAYAS, IIT Madras Research Park’s RTBI programme and Cummins CSR.
The combination of fresh investment, grant support and early customer interest gives Viridian resources to advance its manufacturing plans. Its immediate priorities include completing product certification, validating its motor technologies and establishing the production capacity required to fulfil initial customer demand.
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