Integrated electronics manufacturing company Indigrid Technology raises Rs 40 crore in funding

Indigrid Technology, a homegrown integrated electronics manufacturing company operating across EMS, ESDM, and ODM services, has raised Rs 40 crore in additional funding to close its extended Series A round at Rs 75 crore.

The round was led by Cactus Partners, with participation from ITI Growth Opportunities Fund, Vimson group, and Global South Capital.

Indigrid plans to deploy the capital to scale capacity across its recently commissioned manufacturing facilities, deepen technology and process capabilities, and evaluate strategic acquisitions to expand its footprint across key electronics segments.

"We are excited to welcome Valour, Vimson group, ITI Growth, and Global South Capital on board. This investment endorses our vision and provides the strategic capital needed to accelerate our ambitious expansion plans in high-growth electronics verticals. Earlier investments from Cactus Partners provided us a strong base and knowledge for growing into a large business, and this new investment will further strengthen our footing in the domain,” said Rishab Puri and Sameer Narang, co-founders of Indigrid Technology.

Indigrid claims to have built an integrated manufacturing platform serving over 35 marquee customers, combining design, engineering, testing, and large-scale production under one umbrella. The company currently operates three advanced manufacturing facilities across Manesar and Goa and has steadily expanded its capabilities to support OEMs and global customers.

Karan Goshar, Managing Partner of Valour Capital said, "Indigrid Technology is building critical capabilities for India's industrial resilience and their integrated model is a strong platform for the 'China-plus-one' shift" and Mohit Gulati, Managing General Partner ITI Growth Opportunities Fund said "Indigrid’s technology focus in high growth electronics sector gels well with our investment thesis.”

Mragank Jain, Managing Partner, Global South Capital, said, “Indigrid's remarkable growth places it perfectly to capture the manufacturing localisation opportunity, and we will support the company in its global expansion and M&A.”

"From our earliest conversations with the Indigrid team, we saw their capabilities and potential to build a scaled, integrated manufacturing platform. Over the past few years, we have worked alongside the team to sharpen execution and governance, and this follow-on raise is a strong validation of the platform they have built and the long-term opportunity ahead,” added Rajeev Kalambi, General Partner, Cactus Partners.