Indigrid Technology Raises ₹40 Crore to Close Extended Series A Round
Introduction
India’s electronics manufacturing and embedded systems landscape is gaining traction as capital flows into companies that combine deep engineering with scalable production. A key player emerging from this wave is Indigrid Technology, a Gurugram-based integrated electronics manufacturing company that has secured ₹40 crore in fresh funding, bringing the total size of its extended Series A round to ₹75 crore. The successful close reflects investor confidence in India’s ability to build sophisticated manufacturing platforms serving both domestic and global OEMs.
About the Funding
The recently concluded tranche of funding was led by WestBridge Capital, with participation from Valour Capital, ITI Growth Opportunities Fund, Vimson Group, and Global South Capital. This round follows an earlier strategic infusion of $4 million (approximately ₹35.2 crore) from existing lead investor Cactus Partners in September last year, further solidifying the long-term backing of the company’s institutional partners.
The extended Series A close represents a major milestone for Indigrid, enabling it to accelerate its growth trajectory in high-growth segments such as automotive, electric mobility, industrial automation, and consumer electronics.
Use of Funds
Indigrid plans to deploy the fresh capital toward expanding manufacturing capacity, strengthening research and development capabilities, supporting working capital needs, and exploring strategic acquisitions that can further enhance its value chain. As embedded systems become more complex with increased integration of electrification, automation, and advanced controls, investment in design and technology becomes a key competitive advantage.
A portion of the capital will be used to enhance operations at the company’s existing facilities and to accelerate setup of larger production units, particularly in Goa, where Indigrid has acquired land for future expansion.
About the Startup
Founded in 2015 by Sameer Narang and Rishab Puri, Indigrid Technology develops and manufactures embedded electronic systems for a wide range of sectors. The company is positioned as an integrated partner across the electronics value chain, offering capabilities in EMS (Electronics Manufacturing Services), ESDM (Electronic System Design & Manufacturing), and ODM (Original Design Manufacturing).
Indigrid’s product suite includes motor controllers, DC-DC converters, and regulator rectifiers for automotive original equipment manufacturers (OEMs). In addition, the company produces control systems for consumer appliances and battery pack assemblies used in electric vehicles and drones, illustrating its relevance across both traditional and emerging technology domains.
How It Started and Founders’ Vision ?
Indigrid Technology was co-founded by Sameer Narang and Rishab Puri, who recognized the need for end-to-end electronics manufacturing expertise in India — a market that has traditionally been dominated by imports, especially in precision embedded systems. Their vision was to build a vertically integrated platform that could not only handle manufacturing at scale but also design, prototype, test, and deliver complex systems with global quality standards.
Under their leadership, Indigrid has steadily expanded its capabilities, moving beyond basic contract manufacturing to become a technology-led production partner for customers seeking reliability, quality, and scale.
Market Opportunity
India’s electronics sector is undergoing rapid transformation, driven by the government’s push toward domestic manufacturing, rising demand for EVs, industrial automation, and consumer IoT devices. This macro-tailwind, coupled with global supply chain realignment, presents a significant opportunity for companies like Indigrid that possess both design and manufacturing prowess.
The global embedded systems market is projected to grow significantly over the next decade, and localization of key components — especially in the automotive and mobility space — is becoming a priority for global OEMs. India’s positioning as a “China-plus-one” manufacturing hub further enhances the relevance of integrated platforms like Indigrid.
Business Model and Revenue Streams
Indigrid operates a hybrid business model that includes design services, prototype engineering, full-scale manufacturing, testing, and post-production support. Its integrated platform allows customers to reduce time-to-market and improve quality control by consolidating multiple stages of electronics product development under one roof.
The company currently serves over 35 marquee customers, ranging from domestic OEMs to global enterprises, reinforcing its broad industry relevance. Its products and assemblies are used in a variety of applications, from automotive controls and EV battery systems to industrial controllers and consumer appliances.
Operational Footprint and Expansion Plans
Indigrid currently operates three advanced manufacturing facilities across Manesar and Goa, with the recent commissioning of an additional unit in Goa and land acquisition for future expansion. The three facilities are equipped with state-of-the-art production lines, quality control labs, and testing infrastructure that meet global standards.
With the new funds, the company plans to further scale capacity, deepen its technology stack, and evaluate M&A opportunities that align with its long-term growth strategy. These steps are expected to strengthen Indigrid’s position as a leading integrated electronics manufacturer capable of serving both Indian and international markets.
Investor Confidence and Strategic Backing
Investors backing this round have underscored Indigrid’s strong execution and potential to capture a growing share of the electronics manufacturing opportunity.
Karan Goshar, Managing Partner of Valour Capital, highlighted that Indigrid is building critical capabilities for India’s industrial resilience, especially as global companies diversify supply chains. Mohit Gulati, Managing General Partner at ITI Growth Opportunities Fund, noted that Indigrid’s technology focus aligns well with the fund’s investment thesis in high-growth electronics sectors.
Mragank Jain, Managing Partner at Global South Capital, emphasized that Indigrid’s growth trajectory positions it to capture the manufacturing localisation and global expansion opportunity. Meanwhile, Rajeev Kalambi, General Partner at Cactus Partners, pointed to the company’s execution excellence and governance as key reasons for continued support.
Conclusion
Indigrid Technology’s successful closing of its extended Series A round at ₹75 crore marks a defining moment in its growth journey. With robust investor backing, expanding manufacturing footprint, and deepening technology capabilities, the company is poised to become a cornerstone of India’s electronics manufacturing ecosystem.
As demand for embedded systems grows across automotive, EVs, industrial, and consumer sectors, Indigrid’s integrated platform and strategic investments position it to play a leading role in India’s shift toward advanced electronics production.
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