Viridian Ingni Propulsion has raised ₹1.47 crore in a Pre-Seed round led by Inflection Point Ventures. The Chennai-based deeptech startup builds electric propulsion systems for electric vehicles, drones, robotics, and industrial machinery. It is incubated at IIT Madras Research Park.
Grant support
The startup has also received ₹53.75 lakh in grants. The grant sources include SIPCOT, MeitY Startup Hub, NIDHI PRAYAS, IIT Madras Research Park’s RTBI programme, and Cummins CSR. This grant funding adds to the Pre-Seed investment.
Company and early customers
Viridian was founded in February 2024 by Sriram G. It currently has a five-member engineering team and is pre revenue. The startup holds letters of intent for 350 motors from Crop Xplore and Yali Mobility.
Motor technology
It develops different motor types for specific applications. Its rare earth free ferrite PMa-SynRM motors target e rickshaws, two wheelers, HVAC systems, compressors, and solar pumps. Its permanent magnet synchronous motors target drones, collaborative robots, automated guided vehicles, and marine applications.
The company plans to move from validated prototypes to pilot production. It will use the funds for manufacturing tooling and a pilot production line. It also plans ARAI and ICAT certification, firmware validation, hiring, and working capital for initial deliveries.