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Bengaluru-based deeptech startup Oorja has raised $1.5 million in a pre-Series A funding round led by Micelio Fund, a venture capital fund in India.
The round also saw participation from Java Capital, Anicut Capital and Lead Angels and now plans to focus on building its product and entering European and North American markets.
What does Oorja do?
Founded in 2022 by Vineet Dravid, oorja said it uses a combination of Physics and Machine Learning to perform predictive modelling.
The startup provides simple battery design solutions to electric vehicle makers and its competency lies in predicting accurate battery life, optimised pack design and saving cost and time.
According to Vineet, The motivation behind Oorja is to solve complex engineering problems at the design stage with a cutting-edge world-class product made in India. He that Oorja's hybrid approach uses a combination of physics + ML to improve accuracy and speed up time to market.
“We are looking forward to partnering with oorja. I believe they are solving a problem to ensure the transition to clean mobility is safe and efficient. Engineering design is considered to be getting complex and time-consuming leading to long release cycles and need user-friendly, time-efficient tools to assist new technology development and launch products faster," said Alok Chauhan, principal of Micelio Technology Fund.
"Vineet and team have the background and have built a solution that has the potential to be a global category leader in the space,” Alok added.
oorja is part of ISTEM program
Oorja said that it is involved in the Indian Science Technology Engineering Facilities Map (ISTEM) program, allowing students from over 800 colleges in India to use Oorja's application suite for research and education.
The deeptech startup has also received the SISFS grant via Pandit Deendayal Energy University (PDEU), Gandhinagar and is currently incubated in NSRCEL, the flagship business incubator of IIM Bangalore, under Mobility Cohort – 2.
Evolution of India's deeptech landscape
Over the last three decades, India has experienced three waves of startup evolution, transitioning from IT and Services in the 1990s and 2000s, to Consumer and Digitization in the last decade, and is now rapidly moving towards deeptech and Innovation-led products.
Needless to say, the Indian startup ecosystem is one of the top factors driving evolution in the Indian deeptech sector. Additionally, The country is experiencing a surge in DeepTech and hard science innovations, with government aid, targeted policies, and strategies accelerating DeepTech adoption.
While challenges persist, startups are establishing a global connection and customer base for scale-up, post-development, and achievement of product-market fit.
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