PE-VC Fund Investments
Air-pollution focused clean-tech co. Chakr raises $23-M led by Iron Pillar, SBI Cap Ventures, others
New Delhi-headquartered deep-tech startup Chakr Innovation has raised USD 23 million (INR 193.5 crore) in a Series C funding round led by Iron Pillar, SBI Cap Ventures, ONGC, IAN Fund and Inflexor Ventures.Chakr develops and implements emission control technology to combat air pollution, primarily from diesel generators, by using their Chakr Shield device to capture particulate matter and convert it into high-quality ink and paint.The proceeds from the fresh issue will be used to expand the firm’s manufacturing capacity, accelerate international market growth, and facilitate backward integration. The funding will also bolster Chakr Innovation's research and development (R&D) efforts to build technologies within the clean-tech space.
Between Mar 2018 and Nov 2021, Chakr Innovation had raised about USD 10 M from IAN Fund, Riverwalk Holdings, SBICAP Ventures, ONGC Startup Fund, IDFC Parampara Capital and others.For FY24, Chakr Innovation had reported about INR 124 Cr in Operating Income and about INR 10 Cr in PAT.
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