Viridian Ingni Propulsion Secures Funding for Electric Propulsion Systems

Chennai based deeptech startup Viridian Ingni Propulsion has successfully raised Rs 1.47 crore during a pre-seed funding round, primarily spearheaded by Inflection Point Ventures (IPV). Additionally, the firm has been awarded Rs 53.75 lakh in grants from various notable organisations including SIPCOT, MeitY Startup Hub, NIDHI PRAYAS, the RTBI programme at IIT Madras Research Park, and Cummins CSR.

About Viridian Ingni Propulsion

Founded in February 2024 by Sriram G, this innovative startup focuses on the development of electric propulsion systems, which encompass motors, controllers, and firmware expressly tailored for electric vehicles, drones, robotics, and industrial machinery. Viridian is currently incubated at the IIT Madras Research Park.

Utilisation of Funding

The raised funds will facilitate the transition from validated prototypes to pilot production. This capital injection will assist in the manufacturing tooling process, establishment of a pilot production line, certification from ARAI and ICAT, validation of motor controller firmware, hiring personnel, and addressing working capital needs for initial customer deliveries.

Motor Technologies Offered by Viridian

Viridian Ingni Propulsion is dedicated to developing various motor technologies suitable for specific applications. Its ferrite PMa-SynRM motors, which are free from rare earth materials, are designed for e-rickshaws, two-wheelers, HVAC systems, compressors, and solar pumps. Meanwhile, the permanent magnet synchronous motors (PMSM) cater to drones, collaborative robots, automated guided vehicles, and marine applications.

Customer Engagement

The startup has received letters of intent for 350 motors from two key customers, Crop Xplore and Yali Mobility. Currently, it operates with a five-member engineering team and is in its pre-revenue stage.