New Delhi, September 23, 2025: Deep-tech start-up Chakr Innovation has raised USD 23 million (INR 193.5 crore) in its Series C funding round led by Iron Pillar, with participation from existing investors including SBI Cap Ventures, ONGC, IAN, and Inflexor. Ambit Private Limited acted as the exclusive financial advisor for the fundraise.
The funds will be used to expand manufacturing capacity, accelerate international growth, and strengthen backward integration. A portion of the investment will also support research and development of advanced clean technologies, including indigenous energy storage solutions designed to reduce reliance on lithium-ion chemistry, aligning with the government’s push for Atma Nirbhar Bharat.
Kushagra Srivastava, Founder & CEO of Chakr Innovation, said, "This funding is a major step toward realizing our vision of building world-class material science technologies from India. With these resources, we will expand globally, strengthen our R&D capabilities, and establish the country’s first dedicated materials science center focused on critical materials. Our focus remains on enabling industries to operate sustainably while supporting the Prime Minister’s Atma Nirbhar Bharat vision."
Ashok Ananthakrishnan from Iron Pillar commented, "In Chakr Innovation, we discovered a rare home growth Deep Tech company tackling India's growing pollution crisis and energy storage challenges. What attracted us to Chakr was the mission driven culture of the company and the successful commercialization of its R&D efforts in a short span of 7 years. Not to mention the talented Engineers and PhDs who have returned to India giving up lucrative careers in MNCs abroad. We are proud to partner Chakr as they expand their global footprint and continue to pioneer transformative Tech worldwide.”
Chakr Innovation’s flagship product, Chakr Shield, is India’s first certified retrofit emission control device, which reduces diesel generator emissions by over 80%. The company is also developing Aluminium-Air battery technology, using 100% indigenous raw materials, as an alternative to lithium-ion batteries.
Founded in 2016 by IIT Delhi graduates, the company has over 5,000 installations across India and has reduced more than 2.5 million tonnes of CO₂ equivalent emissions. With over 42 patent applications, a team of 200 engineers and scientists, and operations in Gurugram and Pune, Chakr Innovation is positioned to strengthen its role in India’s clean-tech sector.
