New Delhi, Oct. 30 -- Chennai-based deeptech startup Viridian Ingni Propulsion, has raised Rs.1.47 crore in a pre-seed funding round led by Inflection Point Ventures (IPV). Incubated at IIT Madras Research Park, Viridian develops electric propulsion systems for electric vehicles, drones, robotics and industrial applications.

The startup has also received Rs.53.75 lakh in grants from organizations including SIPCOT, MeitY Startup Hub, NIDHI PRAYAS, IIT Madras RTBI and Cummins CSR.

The investment comes as the company prepares to move beyond validated prototypes and establish its initial manufacturing capabilities.

Viridian plans to use the funding to set up a pilot production line, develop motor stamping tooling and dies, and establish a ...