Chennai-based deeptech startup Viridian Ingni Propulsion has secured Rs 1.47 crore in a pre-seed funding round led by Inflection Point Ventures (IPV).
The startup has also received grants totalling Rs 53.75 lakh from SIPCOT, MeitY Startup Hub, NIDHI PRAYAS, IIT Madras Research Park’s RTBI programme and Cummins CSR.
Established in February 2024 by Sriram G, Viridian develops electric propulsion systems, including motors, controllers and firmware, for applications across electric vehicles, drones, robotics and industrial machinery. The company is incubated at IIT Madras Research Park.
The newly raised capital will help the startup transition from validated prototypes to pilot-scale manufacturing. The funds will be directed towards manufacturing tooling, establishing a pilot production line, obtaining ARAI and ICAT certifications, validating motor controller firmware, recruitment and working capital to support initial customer deliveries.
Viridian develops multiple motor technologies tailored to different applications.
Its rare earth-free ferrite PMa-SynRM motors are intended for use in e-rickshaws, two-wheelers, HVAC systems, compressors and solar pumps. Meanwhile, its permanent magnet synchronous motors (PMSM) are designed for drones, collaborative robots, automated guided vehicles and marine applications.
The startup has secured letters of intent for 350 motors from two customers, Crop Xplore and Yali Mobility. It currently operates with a five-member engineering team and is yet to generate revenue.
