Indigrid Technology Raises $5 Million From Cactus Partners

Cactus Partners has a strong focus on investing in climate tech companies…

The early growth-stage venture capital fund Cactus Partners has announced an investment of $5 million in Indigrid Technology, a full-stack EV component supplier. This is the seventh VC funding made by Cactus Partners and also their second in the EV space. Previous investments made by CP include those in startups like Kapture, Vitraya, AMPM, Auric, Lohum, and Rubix (exited).

Indigrid Technology

Indigrid Technology is a full-stack EV component supplier preferred by EV majors like Revolt, Bounce, and OEMs like JP Minda, Hella, and Xidda. They have their manufacturing operations in Manesar. Indigrid is noted for its customer-centric approach, deep domain expertise, robust product portfolio, and growing customer base.

The capital infusion will go towards several key initiatives: increasing production capacity, enhancing and diversifying product range, increasing its market share and more talent acquisition, training, and development to support growth and innovation goals.

Cactus Partners Funding

At the end of last year, Cactus Partners successfully wrapped up Fund I with a total investment amounting to approximately Rs 630 crore. The venture capital company secured funding mainly from large institutional investors and family offices, with 60% of the contributions coming from within India and the remaining 40% from global limited partners located in the US, Singapore, the European Union, and the UK.

The investment portfolio spans across various sectors, with a primary focus on climate technology, health technology, and Business-to-Business Software-as-Service (B2B SaaS) companies.

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