Chennai-based deeptech startup Viridian Ingni Propulsion has raised Rs 1.47 crore in a pre-seed round led by Inflection Point Ventures (IPV). The capital moves the company from validated prototypes into pilot production: motor stamping tooling and dies, a pilot production line, ARAI and ICAT certification, motor-controller firmware validation, key hires, and working capital for first customer deliveries.
Founded in February 2024 by Sriram G and incubated at IIT Madras Research Park, Viridian develops complete electric propulsion systems - motor, controller and firmware designed and validated in-house as a single unit - for electric vehicles, drones, robotics and industrial machinery. Most Indian propulsion suppliers build only one part of that stack; Viridian delivers all three together.
Its lineup splits by application. Rare-earth-free ferrite PMa-SynRM motors target e-rickshaws, two-wheelers, HVAC systems, compressors and solar pumps, while permanent magnet synchronous motors serve drones, collaborative robots, automated guided vehicles and marine uses.
The five-member engineering team is pre-revenue but already holds letters of intent for 350 motors from two customers, Crop Xplore and Yali Mobility. Beyond equity, the startup has received Rs 53.75 lakh in grants from SIPCOT (Government of Tamil Nadu), MeitY Startup Hub, NIDHI PRAYAS, IIT Madras Research Park's RTBI programme and Cummins CSR.
FundForge Insight: India's EV localisation push has centred on cells and battery packs, while the propulsion brain - the motor, controller and firmware - is still largely imported or assembled from imported parts. Viridian's full-stack thesis, rare-earth-free motor option and IIT Madras incubation give it the right shape, and IPV's network should shorten the road to customers. The hard climb is certification and turning letters of intent into purchase orders; watch the ARAI and ICAT milestones and the pilot line's first deliveries as the real tests.
Sources: The Hindu BusinessLine (October 29, 2026) and Entrackr (October 29, 2026). Figures as announced by the company and investors. This article is for information only and is not investment advice.
Image: Stator winding of a BLDC motor by Medvedev, licensed under CC BY-SA 3.0 via Wikimedia Commons; cropped and converted to black and white. Shown for illustration - not a Viridian Ingni product.
