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Deeptech startup Chara raises $4.75M in pre-Series A funding round

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Deeptech startup Chara raises $4.75M in pre-Series A funding round

Chara Founders - Ravi Prasad Sharma, Bhaktha Keshavachar, and Mahalingam Koushik

Bengaluru-based deeptech startup Chara has raised $4.75 million (about Rs 38.8Cr) in a pre-Series A funding round led by Exfinity Venture Partners, with participation from Vietnam-based Big Capital, Log9 Materials, and existing investors Kalaari Capital and ciie.co.

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The startup plans to use the raised capital for team expansion, international business development, and initial investment to manufacture and deploy developed motors/controllers.

Founded in November 2019 by Bhaktha Keshavachar, Ravi Prasad Sharma, and Mahalingam Koushik,  Chara said it is building a scalable, cloud-controlled, and rare-earth free platform for designing, building, and deploying electric motors for EV, HVAC and various other applications.

Chara’s proprietary Drive Control FIrmware (DCF) is a suite of packages consisting of advanced motor control algorithms at its core. The state-of-the-art motor control algorithms are developed to extract maximum performance from in-house designed Chara Motors. Using Model-Based Design (MBD), DCF gives peak motor performance while ensuring optimum efficiency, thermal management and smooth, ripple-free torque delivery, the startup said.

The motors will be based on a specialized patent-pending variation of the well-known SRM (Switched Reluctance Motor) and SynRM technologies and other magnet-free motor technologies. These ‘Make in India’ motors are currently being field-tested and will be in production in the second half of 2023, it said.

Commenting on the investment, Bhaktha Keshavachar, Founder & CEO of Chara Technologies, said, “At Chara, we pride ourselves in being disruptors and 2023 is going to be a year of realizing our electric dreams. We're working towards turning the current motor tech on its head, doing away with inefficient and rare-earth-dependent practices.We are building rare-earth-free, hyper-efficient, cost-effective, intelligent motors and controllers for EV, HVAC, and other industries. We are very excited to work with Exfinity, BigCapital, Log9, Kalaari, and CIIE to bring cutting-edge technology to OEMs in India and in the future to the world.”

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