Advanced automotive drive systems for EVs, with a patented magnet-free Virtual Magnet motor architecture, which is powered by control algorithms and the latest in power electronics. The technology delivers superior performance while taking away dependence on rare earth minerals to produce magnets. Use cases across automotive, industrial and defence systems. $5M Series A. Founded in May 2024 under the Volektra brand. Founders: Manish (Master's from Univ. of Michigan '07; Kellogg MBA '20) has worked for about 18 years on product development in automotives (Konsberg Automotives; Ford; VW) Piyush ('04 Master's and '09 PhD from Illinois Institute of Technology) has worked for a similar period on electrical power systems (Woodward - aircraft electronics; PV Solar Inverter Systems; Danfoss Solar Inverters).

On-demand recycling platform for households and companies to arrange doorstep pickup of their e-waste, paper, metals, cartons, plastics, textiles and even end-of-life vehicles. It has recycled over 20 million kilograms of waste worth more than ₹45CR, has 350K app downloads and has completed 300K pickups. It contracts with 200 informal workers. ₹22CR (c. $2.2M) Pre-Series A round co-led by Orios and Acumen Fund. Other investors in the round: Upaya Social Ventures, Venture Catalysts, We Founder Circle, Soonicorn Ventures, Bharat Jaisinghani (Polycab). Featured on Shark Tank Season 2, has raised ₹3CR in a seed round prior to this round. Founded in Jul 2019, Delhi based. Founder Mukul (Indraprastha Institute of Information Technology '20) co-founded DroneMed (UAVs) in college before starting ScrapUncle.

Re-commerce startup building a full-stack platform for refurbished consumer electronics. The company sources, repairs and resells premium devices, primarily Apple iPhones, MacBooks and iPads, offering quality-checked, warranty-backed products at lower price points. With its own large refurbishment facility and a growing online-plus-offline retail footprint across India, Grest is positioning refurbished electronics as a reliable, mainstream alternative while pushing a more circular, lower-waste model for consumer tech. ₹16CR in a growth round led by Equentis Wealth, along with JIIF, The Chennai Angels, India Accelerator, Lead Invest, 8i Ventures. Seed round of an undisclosed amount led by India Accelerator in April 2025. Founded in Oct 2018, Gurgaon based. Founders: CEO Shrey is ex-L&T and Punjj Lloyd; COO Nitin is a former telecoms engineer (ZTE, Nokia Siemens, Ericsson). Comps: Cashify (selling all brands) did ₹935CR (~$100M) of revenue in FY24.

EV infrastructure and financing platform focused on India’s 3-wheeler segment. It operates a battery-as-a-service network with swap stations that let drivers replace depleted batteries in minutes, cutting downtime and range anxiety. Alongside infrastructure, Chargeup also enables leasing and financing to lower upfront EV costs. The company aims to make EV ownership simpler, more reliable, and more profitable for commercial drivers - 10K of whom are on the platform. ₹22CR funding (undeclared, eitha Pre-Series A or Series A) backed by IAN Group, along with Capital-A and Anicut Capital. The last round was a $7M Pre-Series A1 in Nov 2022, led by Capital-A and Anicut. Founded in Feb 2019, Delhi based. Founders: CEO Varun was previously the CEO at Atlanta Energy (clean energy products/EPC); Chief Digital Officer Satish is ex-Meta and Vodafone (five years each) and was the CTO for Global Enteprise at Reliance Communications

Real innovation in sustainable packaging solutions. Seaweed is sourced from villages and converted into clear thin films (to produce bags and wrappers); coatings (to ensure food preservation in food takeout/delivery packaging); and to produce wood-free paper (used for clothes tags, cartons and bakery boxes). Supplies primarily to Europe and GCC countries. ₹5CR Pre-Series A round co-led by 3one4 Capital and Rainmatter, along with 1Crowd, LNB Group and 7th Gen. Rainmatter led the ₹20CR seed round in Jan 2025, at which time they also received a $100K grant from the Peak XV Spark Fellowship Programme. Founded in Jan 2020, Mumbai based. Founder Neha is ex-Google (5 years at Google Analytics) and founded Fly by Knight (on demand delivery for Mumbai between '12-'15).

Fleet management company providing large, sustainable fleets for ride-hailing platforms in India. It owns and operates CNG and electric vehicles across major cities, partnering closely with players like Uber. It has 3,000 vehicles on its platform, is at ₹300CR annualised revenue, has saved over 6K tons of carbon emissions, and operates with Uber in five cities (Mumbai, Bengaluru, Hyderabad, Pune, Delhi). Series A round of an undisclosed amount. Founded in May 2024, Gurgaon based. Founder Karan co-founded Revv (the self drive car rental platform), building it over a decade, prior to which he was an Associate Partner at McKinsey for 12 years.

Building an integrated EV charging and services network in India. The company designs and deploys universal EV chargers, operates public and on-demand charging solutions, and runs a cloud-based platform to manage charging operations across vehicle types and brands. Alongside charging, it also offers a multi-brand servicing network for both electric and conventional vehicles. ₹12CR Pre-Series A Round led by Venture Catalysts. Other investors include Kamal Puri (Skyline Group), IPV, FAAD Network, LetsVenture, Vrinda Goyal (Pace Group), Haresh Patel (Arthanomics), Maneesh Shrivastav (Alpha Value). Founded in Jun 2021, Noida based. Founders: CEO Deepesh is from Eaton and Emerson Network Power; co-founder Shashank is from Harting; COO Chandraprakash is from Bechtel and Novo Nordisk Engineering.

Deep-tech electric powertrain company which is developing next-generation high-voltage motors and building new-generation intelligent motor controllers for EV applications. Its current product range is for 2W and 3W, now expanding to 4W, trucks and buses. ₹13CR Pre-Series A Round led by Varanium Capital. Founded in Apr 2019, Bangalore based. Founder and CEO Rakesh was previously a Senior Partner at PWC (17 years). Entuple E-Mobility

Manufacturer of high efficiency electric motors and controllers for electric mobility and other industrial use cases. The company develops both axial flux (more powerful, smaller) and radial flux (more cost effective) motor systems between 1kW and 10kW for applications such as two-wheelers, L5 loaders, drones, power tools and agricultural equipment. The company aims to deliver fully localised powertrain solutions and strengthen India’s domestic EV and industrial motor ecosystem. Supplies to both the domestic and export market, production with this round scales to 50K motors a month. Customers and revenue traction undisclosed. $3M Pre-Series A round. Angels in the round include existing investors Mohit Tandon (Delhivery), Himanshu Aggarwal (Aspiring Minds), Vijay Shekhar Sharma (Paytm), Sunik Kalra (Stride Ventures), Aloke Bajpai (Ixigo), Narayan (Ather Energy) and new investors Anupam Jalote (iCEM), Soumitra Mishra (Operators Studio), Hemant Daga (Neo Asset). Seed led by GVFL and Ixigo co-founder Rajnish Kumar in Dec 2024. Founded in 2021. HQ in Gurgaon, manufacturing in Ahmedabad. The three founders, Abhilash (CEO), Arnav (COO) and Piyush (CTO), started out while at the Institute of Infrastructure Technology Research and Management (IITRAM), Ahmedabad.