Entellus Industries Raises INR 50 Cr to Expand Rare Earth Manufacturing Capacity
The latest round of funding will be used for capex to expand into sintered alloys and take its existing products to market.
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Entellus Industries, a rare earth metals and alloy manufacturing company, has raised INR 50 crore (about USD 5.5 million) in its second funding round.
The round was led by ZeroW, a boutique investment firm focused on deep-tech and emerging sectors and backed by the Mekapati Family Office, promoters of infrastructure major KMC Group. ValPro acted as the transaction adviser for the deal.
The company had earlier secured USD 12 million from Social Capital, a Silicon Valley–based venture capital firm. That funding was used to establish operations and set up NdPr metal and bonded powder alloy manufacturing facilities in Tamil Nadu.
According to the company, the latest capital infusion will be deployed towards capital expenditure to expand into sintered alloys and to commercialise its existing products. Entellus said the planned expansion is expected to support a production capacity of around 2,000 tonnes of magnets annually.
Simha Kumar, CEO of Entellus Industries, said, “Proving technical capabilities in rare earth metal and alloy manufacturing is non-trivial and we are the first ones to achieve it verifiably in India. We wish to use this advantage in making India a truly global hub for rare earth magnet manufacturing.”
Founded in 2022, Entellus focuses on producing NdPr metal, bonded powders and strip-cast alloys, which are key inputs for permanent magnets used in electric vehicles, wind turbines, defence applications and advanced electronics.
The investment comes at a time when India is placing increased emphasis on domestic production of critical materials under initiatives such as Make in India.
Entellus Industries, a rare earth metals and alloy manufacturing company, has raised INR 50 crore (about USD 5.5 million) in its second funding round.
The round was led by ZeroW, a boutique investment firm focused on deep-tech and emerging sectors and backed by the Mekapati Family Office, promoters of infrastructure major KMC Group. ValPro acted as the transaction adviser for the deal.
The company had earlier secured USD 12 million from Social Capital, a Silicon Valley–based venture capital firm. That funding was used to establish operations and set up NdPr metal and bonded powder alloy manufacturing facilities in Tamil Nadu.
According to the company, the latest capital infusion will be deployed towards capital expenditure to expand into sintered alloys and to commercialise its existing products. Entellus said the planned expansion is expected to support a production capacity of around 2,000 tonnes of magnets annually.
Simha Kumar, CEO of Entellus Industries, said, “Proving technical capabilities in rare earth metal and alloy manufacturing is non-trivial and we are the first ones to achieve it verifiably in India. We wish to use this advantage in making India a truly global hub for rare earth magnet manufacturing.”
Founded in 2022, Entellus focuses on producing NdPr metal, bonded powders and strip-cast alloys, which are key inputs for permanent magnets used in electric vehicles, wind turbines, defence applications and advanced electronics.
The investment comes at a time when India is placing increased emphasis on domestic production of critical materials under initiatives such as Make in India.
