Viridian Ingni Raises ₹1.47 Cr for EV Motor Pilot Production

Chennai-based deeptech startup Viridian Ingni Propulsion, has raised ₹1.47 crore in a pre-seed funding round led by Inflection Point Ventures (IPV). Incubated at IIT Madras Research Park, Viridian develops electric propulsion systems for electric vehicles, drones, robotics and industrial applications. The startup has also received ₹53.75 lakh in grants from organizations including SIPCOT, MeitY Startup Hub, NIDHI PRAYAS, IIT Madras RTBI and Cummins CSR. The investment comes as the company prepares to move beyond validated prototypes and establish its initial manufacturing capabilities. From Prototypes to Pilot Production Viridian plans to use the funding to set up a pilot production line, develop motor stamping tooling and dies, and establish a small manufacturing facility. A portion of the capital will also support ARAI/ICAT certification and homologation, motor controller firmware validation, engineering and business hires, and working capital for initial customer deliveries. These are important steps for a company attempting to enter the automotive and industrial supply chains. A functioning motor prototype may demonstrate technical feasibility, but commercial adoption requires more. Manufacturers need confidence in product performance, consistency, reliability and compliance with relevant standards. For Viridian, the immediate challenge is therefore not simply developing another motor design. It is demonstrating that its technology can be manufactured repeatedly, tested against industry requirements and delivered to paying customers. The company is currently pre-revenue and operates with a five-member engineering-led team. That makes the upcoming pilot production phase particularly important. It will provide an early indication of whether the startup can translate its engineering capabilities into a commercially viable business. Why Viridian Is Building the Full System Viridian's approach differs from developing a motor as a standalone component. The company designs the motor, electronic controller and firmware together, allowing the three elements to be developed and validated as an integrated propulsion system. The motor generates mechanical power, while the controller regulates its operation. Firmware manages how the system responds to operating conditions and performance requirements. Developing these components together can help engineers optimize the complete system rather than treating each element independently. For original equipment manufacturers (OEMs), such an approach could reduce some of the integration work required when sourcing motors, controllers and software from different suppliers. However, the commercial advantage will depend on whether Viridian can demonstrate improvements in performance, reliability, cost and integration during customer testing. Mitesh Shah, Co-founder, Inflection Point Ventures, said, “Viridian Ingni is addressing a critical gap in India’s EV and propulsion ecosystem by developing its entire technology stack, including motors, controllers and firmware, in-house.” The investment reflects IPV's interest in supporting engineering-led companies developing domestic component capabilities. A Different Approach to Rare-Earth Dependence Another part of Viridian's strategy involves developing motors for different applications rather than relying on a single motor configuration. The company is working on rare-earth-free ferrite permanent magnet-assisted synchronous reluctance motors (PMa-SynRM) for applications such as electric rickshaws, two-wheelers, HVAC systems, compressors and solar pumps. These designs use ferrite magnets instead of rare-earth magnets, potentially reducing dependence on imported rare-earth materials for suitable applications. However, Viridian is not taking a rare-earth-free approach across its entire portfolio. For drones, collaborative robots, automated guided vehicles (AGVs) and marine applications where higher power density is important, the company is developing permanent magnet synchronous motors (PMSMs) using rare-earth magnets. This distinction matters because different applications have different requirements for motor size, weight, efficiency and output. A propulsion system suitable for an e-rickshaw may not deliver the performance needed for a drone or industrial robot. By tailoring motor technology to each application, Viridian is attempting to balance performance requirements with material choices and cost considerations. Its shared design platform is also intended to reduce the engineering effort needed to develop additional products. Whether this approach delivers meaningful manufacturing cost advantages will become clearer as the company moves into production. First Customer Deliveries Will Be the Test Viridian has secured letters of intent (LOIs) covering 350 motors from two customers, Crop Xplore and Yali Mobility. The agreements provide an initial indication of potential demand, but they should not be confused with completed sales or recognized revenue. The startup must still complete the necessary production and validation activities before moving toward deliveries. This is where the next stage of its business will be tested. For an early-stage hardware company, customer interest is valuable, but repeat orders, product reliability and production economics ultimately determine whether the business can scale. The company's initial customer relationships may also help validate how well its propulsion systems perform outside controlled development environments. The challenge will be to convert these early commitments into delivered products and establish demand beyond the first customers. India's Opportunity Beyond EV Assembly Viridian's funding also highlights a broader opportunity in India's electric mobility and industrial technology sectors. As electric vehicles, drones and automation systems become more widely adopted, demand for propulsion components is likely to extend across several industries. But supplying different markets requires more than adapting an existing product. Each segment brings its own technical requirements, certification needs, pricing pressures and customer expectations. That makes the company's multi-application strategy both an opportunity and an execution challenge. Serving automotive, drone, robotics and industrial customers could broaden its addressable market. At the same time, developing products for multiple industries may stretch the resources of a small engineering team. For Viridian, prioritizing applications where it can secure customer demand and complete validation efficiently will be important as it begins commercial operations. What Comes Next for Viridian? Founded in February 2024 by Sriram G, Viridian Ingni Propulsion is still at an early stage. Sriram brings nearly 14 years of experience in electric vehicle and propulsion engineering, including seven years working with IIT Madras EV research centers. “This round takes us from validated prototypes into pilot production, certification and our first customer deliveries,” said Sriram G, Founder and CEO, Viridian Ingni Propulsion. The startup's immediate priorities are clear: establish pilot manufacturing, complete certification requirements, validate its controller firmware and begin customer deliveries. But the larger test will come after those milestones. Viridian will need to demonstrate that its integrated propulsion systems can meet OEM requirements consistently and compete commercially against established suppliers. The ₹1.47 crore investment gives the startup capital to begin that process, although scaling beyond pilot production may require additional resources.