Chennai-based deeptech startup Torus Robotics recently raised $470,000 in a seed funding round led by the Tamil Nadu Infrastructure Fund Management Corporation (TNIFMC) through the Tamil Nadu Emerging Sector Seed Fund (TNESSF).
The round also saw participation from Forge Innovation & Ventures, Coimbatore, and SINE (Society for Innovation & Entrepreneurship) at IIT Bombay.
What does Torus Robotics do?
Founded in 2019 by Vignesh M, Vibhakar Senthil, and Abbhi Vignesh K, Torus Robotics has set its sights on addressing the EV industry's significant reliance on imported powertrain components, such as motors and controllers.
The startup's products are designed to be lighter, more compact, and more efficient than traditional alternatives, boasting a 50% reduction in weight and size, along with a 15% increase in efficiency. It aims to enhance the performance of EVs and make them more cost-effective and sustainable.
What is the purpose of fundraising?
The seed funding will enable Torus Robotics to accelerate its research and development efforts, ensuring the rapid transition of its technologies from the laboratory to the market.
The financial boost will support the company in scaling up manufacturing, expanding its market reach, and attracting top talent.
Such advancements are crucial for Torus Robotics as it strives to meet the evolving needs of the EV automotive space. The funding is also expected to empower the startup to introduce new products that cater to the changing demands of customers.
Torus Robotics' The company's efforts have been recognized and supported under the FLCTD program facilitated by the United Nations Industrial Development Organization (UNIDO), further validating its potential to drive sustainable innovation and economic growth.
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