Funding · 29 October 2026Viridian Ingni Propulsion₹1.47 CrElectric motors for EVs and dronesviridianingnipropulsion.com ↗
FundingMobility & Logistics
Viridian Ingni raises ₹1.47 crore pre-seed
By Abha Lohia · Editor ·
Pre-seedChennaiFounded 2024
- Chennai's Viridian Ingni Propulsion designs electric motors, controllers and firmware for EVs, drones, robots and industrial machines
- Inflection Point Ventures led the ₹1.47 crore pre-seed round; about ₹53.75 lakh in grants came separately
- The money takes it towards pilot production; two customers have signed intent letters covering 350 motors
What happened
- Raised ₹1.47 crore led by Inflection Point Ventures.
- Also got ₹53.75 lakh in grants.
- Total capital is about ₹2 crore.
- Money funds a pilot production line.
Why it matters
- Its ferrite motors use no rare earth magnets.
- It is pre-revenue with intent letters for 350 motors.
The business
- Builds ferrite PMa-SynRM motors for e-rickshaws, two-wheelers and HVAC.
- Also makes controllers and firmware.
- Incubated at IIT Madras Research Park.
- Five-member engineering team.
- Grants came from SIPCOT, MeitY Startup Hub, NIDHI PRAYAS, RTBI and Cummins CSR.
The founders
Who put in money
What happens next
- Tooling, certification with ARAI and ICAT, first deliveries
Earlier rounds
- ₹1.47 Cr pre-seed, Oct 2026
The numbers around it
Mobility & Logistics in October 2026: 11 rounds with a disclosed amount, $544 million in all; the biggest was Ola Electric (₹1,000 Cr). Every sector this year →
Other articles talking about it
Terms in this story
- Funding stage: Startups raise money in steps called funding stages: pre-seed, seed, Series A, B, C and later, ending in a listing or a sale. Each step is larger and asks for more proof. In India, Series A rounds run from a few million dollars to about $15 million, as of November 2026.
- Seed round: Pre-seed and seed are the first money a startup raises from outside investors. The difference is how much has been built when the cheque arrives: pre-seed backs an idea or prototype, usually with a cheque under ₹5 crore, while seed backs an early product and runs from a few crore rupees to a few million dollars.
Read next
ResultsDriveU net profit doubles to ₹3.6 crore in FY26DriveU is a Bengaluru platform that sends verified drivers to drive customers' own cars, founded in 2015AcquisitionMakeMyTrip buys majority of Quick RideQuick Ride is a Bengaluru app that matches people for shared car and bike rides, for daily commutes and intercity tripsPartnershipCars24 joins forces with Dubai's Alba CarsCars24 runs a used-car technology and financing platform operating in India, the UAE and Australia
All startup news on 29 October 2026 →
Is this Viridian Ingni Propulsion? Get your “Featured on StopDown” badge →