Viridian Ingni Propulsion raises pre-seed funding led by Inflection Point Ventures
The company has also received Rs 53.75 lakh in grants from SIPCOT, MeitY Startup Hub, NIDHI PRAYAS, IIT Madras Research Park’s RTBI programme and Cummins CSR.
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Deeptech startup Viridian Ingni Propulsion has raised Rs 1.47 crore in a pre-seed funding round led by Inflection Point Ventures (IPV).
The company has also received Rs 53.75 lakh in grants from SIPCOT, MeitY Startup Hub, NIDHI PRAYAS, IIT Madras Research Park’s RTBI programme and Cummins CSR.
The fresh capital will be used to develop pilot production facilities, complete ARAI/ICAT certification and homologation, validate motor controller firmware, hire engineering and business personnel, and support working capital requirements for initial customer deliveries.
Founded in February 2024 by Sriram G, Viridian Ingni Propulsion develops electric propulsion systems, including motors, controllers and firmware, in-house. The startup caters to electric vehicles, drones, robotics and industrial machinery, with a focus on developing Indian-designed propulsion technology and reducing dependence on imported components. It operates from the IIT Madras Research Park in Chennai.
Commenting on the investment, Mitesh Shah, co-founder of IPV, said the startup is addressing a gap in India's EV and propulsion ecosystem by developing its technology stack in-house. He added that its engineering capabilities could help Indian-made propulsion systems gain traction among domestic and global original equipment manufacturers (OEMs).
Sriram G, founder and CEO of Viridian Ingni Propulsion, said the funding would help the company move from validated prototypes to pilot production, certification and initial customer deliveries. He added that the startup aims to make Indian-designed propulsion systems a preferred option for EV, drone and industrial equipment manufacturers.
The company has letters of intent for 350 motors from two customers, Crop Xplore and Yali Mobility. The latest funding round takes its total funding to Rs 1.47 crore, in addition to the Rs 53.75 lakh received through grants.
The India Space Propulsion Market was valued at $347.8 million in 2026 and projected to reach to $530.3 million by 2031, according to a report by MarketsandMarkets, driven by ISRO's strategic initiatives and the commercialization of the sector.