TIEA Connectors secures ₹22 cr in Pre-Series A funding led by Jamwant Ventures, Valour Capital
Summary
TIEA Connectors has raised 22 crore in its Pre-Series A funding round led by Jamwant Ventures and Valour Capital. The company plans to use the funds to expand the business to European and US markets and to strategically enter into defence-grade interconnect systems. The funding also saw participation from 8X Ventures and IvyCap.Founded in 2019, TIEA Connectors specialises in the design, development and manufacturing of customised industrial electronic and electrical interconnection solutions. The company, which was incubated at the Indian Institute of Science (IISc), aims to advance Indias indigenous Electronic System Design and Manufacturing (ESDM) capabilities and produce essential components across multiple sectors, including electric vehicles (EV), aerospace, consumer electronics and defence.We are thrilled to partner with Jamwant Ventures, Valour Capital, 8X Ventures and IvyCap as we scale our operations, drive innovation and continue delivering world-class solutions to our customers, said Ajith Sasidharan, CEO of TIEA Connectors.TIEA had previously raised 16.81 crore in 3 rounds of funding, including participation from the Technology Development Board, according to the company.Our investment in TIEA aligns with our mission to support indigenous manufacturing and enhance Indias industrial ecosystem. The companys demand is far exceeding supply, and this funding will enable them to scale operations, expand manufacturing capacity and advance their R&D initiatives, said Karan Goshar, Managing Partner at Valour Capital.The company currently operates at 90 per cent manufacturing capacity and additional capital will enable TIEA to scale its production to meet the increasing demand from industries such as electric vehicles (EVs), drones, aerospace and defence.