Chara secures $4.75 million in funding Pre-Series A round

Chara Technologies Private Limited, a Bengaluru-based manufacturer of electric motors for electric vehicles (EV) has raised $4.75 million in a pre-series A round of funding led by the Exfinity Venture Partners. The round also witnessed participation from Big Capital, a venture arm of Bitexco and Log9 Materials from Vietnam. The round also included existing investors Kalaari Capital and The company is working to develop a scalable, cloud-controlled, and rare-earth-free platform for designing, manufacturing, and deploying electric motors for EVs and other applications.

According to the company, Chara has already built motors for two wheelers (hub and mid-mount), three and four wheeled light commercial vehicles, and motors for other applications. The current motor range offered by the company ranges from fractional kW to tens of kW, with voltages ranging from 48 V to 400 V. For these technologies, it has filed patents in motor design, controller design, and control algorithms.

Recently in January 2023, ElectricPe, a Bengaluru-based electric vehicle (EV) charging aggregation platform, closed a $5 million pre-series round. This funding round has raised the total capital in the last 12 months to $8 million. The funds will be used to expand technology investments and scale up the company operations. The funding round was led by the Green Frontier Capital, Blume Ventures, and Micelio Fund, with participation from Dubai NB Ventures, Anchorage Capital Partners, Supermorpheus, and Climate Angels.