Indigrid Technology raises $5M from Cactus Partners
Summary
Electric vehicle component startup Indigrid Technology has raised $5 million from Cactus Partners, an early growth-stage venture capital fund. "This investment will enable us to boost our product development efforts, ensuring we stay ahead of the high growth demand curve in the rapidly-evolving EV market. "We believe the time is right for Indigrid to build upon its initial success and establish itself as a critical member of the growing EV ecosystem in the country. In line with our strategy, Cactus will support the company with our growth acceleration playbook (GAP), said Amit Sharma, General Partner at Cactus.In December last year, Cactus Partners had concluded the final close of Fund I at a total corpus of about Rs 630 crore. The fund has a broad sector focus, with its primary interests being in climatetech, healthtech, and B2B SaaS businesses.