In a major leap in developing sustainable technology, Chakr Innovation, an IIT Delhi-origin deep-tech startup, has raised $23 million (about ₹193.5 crore) in its Series C round. Iron Pillar, a growth-stage venture fund, led the round, with existing investors SBI Cap Ventures, ONGC, IAN, and Inflexor putting in money as well.
Empowering Clean-Tech Solutions
Chakr Innovation was launched in 2016 by IIT Delhi alumni Kushagra Srivastava and Bharti Singhla. Chakr Innovation is a material science and clean-tech solutions company focused on curbing environmental pollution. Its leading product, Chakr Shield, is India’s first certified retrofit emission control device for diesel generators that can lower particulate emissions by over 80%. Chakr Innovation has installed over 5,000 devices in 2,000 customers and has helped reduce over 2.5 million tonnes of CO₂ equivalent emissions.
Strategic Utilization of Funds
The fresh capital will be strategically deployed to:
Manufacturing Expansion: Scaling up the manufacturing capacity to address the increasing demand for clean-tech solutions.
International Growth: Expansion into overseas markets to expand the reach of sustainable technologies.
Backward Integration: Building supply chain resilience and minimizing reliance on external sources.
Research and Development: Investing in the development of cutting-edge technologies, including aluminium-air batteries and air pollution reduction systems.
The Economic Times
Pioneering Indigenous Energy Storage
Chakr Innovation is also in the vanguard of creating indigenous energy storage technology. The firm is designing aluminium-air battery solutions based on 100% indigenous raw materials, which provide a green alternative to lithium-ion batteries. These batteries have an expected higher energy density and longer lifetime, commensurate with the vision of Atma Nirbhar Bharat (self-reliant India) by the government.
Change Started
Vision for the Future
Kushagra Srivastava, Chakr Innovation Founder and CEO, stated, “This funding is a huge leap towards our vision of creating world-class material science technologies out of India. Using these funds, we will go global, enhance R&D capabilities, and set up the nation’s first dedicated materials science center to target critical materials.”
Conclusion
Chakr Innovation’s recent funding milestone reflects increased investor confidence in India’s clean-tech industry. With a vision to innovate and sustain, the firm is set to contribute meaningfully to environmental protection and energy efficiency globally.
