EV component maker Indigrid Tech attracts $5-M led by Cactus Partners

Gurugram-headquartered electric vehicles (EV) components maker Indigrid Technology has bagged USD 5 million (about INR 41.7 crore) in a Series A round of funding led by Cactus Partners which is reportedly acquiring a double-digit percentage stake.Founded by Sameer Narang and Rishab Puri in 2015, Indigrid is a full stack EV component provider with in-house design and manufacturing capabilities. The EV battery supplier will infuse the capital towards some of its key initiatives including expansion of production capacity, research and development, working capital as well as sales and marketing.