Chakr Innovation, a pioneering deeptech startup from IIT-Delhi, has raised $23 million in a Series C funding round led by Iron Pillar, marking a significant milestone in its journey towards sustainable technology solutions.
Based in Gurugram, the company specializes in clean tech solutions, particularly emission-reducing devices for diesel generators, addressing critical environmental challenges in India and beyond.
Driving Sustainability Through Innovation
Founded in 2016, Chakr Innovation has emerged from its academic roots at IIT-Delhi to become a leader in material science and sustainability-focused technologies.
The startup’s flagship products aim to curb pollution, a pressing issue in India where air quality remains a public health crisis, especially in urban centers.
Strategic Use of Funds for Growth
The freshly secured funds, amounting to INR 193.5 crore, will be utilized to scale manufacturing capabilities and enhance global outreach.
Additionally, the investment will fuel research and development, including the establishment of a new materials science center dedicated to pioneering critical clean technologies.
Impact on India’s Environmental Landscape
Chakr’s innovations could play a transformative role in reducing industrial emissions, aligning with India’s ambitious goals to combat climate change and achieve net-zero targets by 2070.
Historically, the startup has collaborated with major entities like ONGC and garnered support from investors such as SBI Cap Ventures and IAN, reflecting strong industry confidence.
Looking Ahead: Global Ambitions
With this funding, Chakr Innovation is poised to expand its footprint beyond India, targeting international markets where clean energy solutions are in high demand.
The company’s vision includes fast-tracking global growth and establishing itself as a key player in the worldwide cleantech sector over the next decade.
This funding round not only validates Chakr’s innovative approach but also underscores the growing investor interest in deeptech startups tackling environmental challenges in India.
As air pollution and sustainability remain critical global issues, Chakr Innovation’s journey offers hope for a cleaner, greener future with technology at its core.
Maria Lourdes
