Funding Roundup: Viridian Ingni, Venttup Raise Capital

Viridian Ingni Propulsion Raises INR 1.47 Cr in Pre-Seed Round

Chennai-based deeptech startup Viridian Ingni Propulsion has raised INR 1.47 crore (USD 155,000) through CCPS in a pre-seed round led by Inflection Point Ventures (IPV). It has also received INR 53.75 lakh (USD 57,000) in grants from SIPCOT, MeitY Startup Hub, NIDHI PRAYAS, IIT Madras RTBI and Cummins CSR.

The funds will move the company from validated prototypes to pilot production. They will go toward motor stamping tooling and dies, a pilot production line and small manufacturing facility, ARAI/ICAT certification and homologation, motor controller firmware validation, key engineering and business hires, and working capital for first customer deliveries.

The startup is pre-revenue and has a five-member team. It holds letters of intent for 350 motors from two customers, Crop Xplore and Yali Mobility.

India’s EV motor market was valued at about USD 0.90 billion (INR 8,550 crore) in 2024 and is projected to reach USD 2.89 billion (INR 27,455 crore) by 2030, according to MarkNtel Advisors.

Sriram G, Founder and CEO, Viridian Ingni Propulsion, said: “India designs very few of its own propulsion systems, and almost none end-to-end.” He added: “The goal is to make Indian-designed propulsion the default choice for EV, drone and industrial OEMs, not the fallback.”

Venttup Raises USD 3 Mn in Pre-Series A Round

Industries 5.0 startup Venttup has raised USD 3 million (INR 28.5 crore) in a Pre-Series A round led by Rainmatter by Zerodha and Unicorn India Ventures, which has backed the company since its seed round.

The funds will be used to expand the engineering team and set up a precision manufacturing and rapid prototyping facility in Bengaluru. The facility will handle precision machining, turning and sheet metal production for energy transition, defence, aerospace and space applications. Venttup will also adopt AI for B2B sourcing, supplier intelligence and operational efficiency.

Since its undisclosed seed round in 2024, Venttup’s revenue has grown 5x to INR 10 crore (USD 1.05 million) in FY2025–26.

Venttup was founded by Sandeep Nair (CEO), M. Wasim Ankli (COO) and Joseph Panakkal (CMO), who have worked at Hitachi Energy, Siemens, L&T and Kalpataru Power. It was incubated at the Kerala Startup Mission (KSUM).

Sandeep Nair, Co-founder and CEO, Venttup, said: “India’s next phase of manufacturing growth requires strong engineering capabilities that can translate complex requirements into validated, production-ready components. At Venttup, we are building an engineering-first manufacturing company that brings together design standardisation, rapid prototyping, testing and scalable production through India’s capable MSME ecosystem.”