BENGALURU: Material science startup Chakr Innovation has raised $23 million in its Series C funding round led by growth investor Iron Pillar , with participation from existing backers including SBI Cap Ventures, ONGC, IAN and Inflexor.
The company said the fresh capital will be deployed towards expanding its manufacturing capacity, accelerating international operations, and strengthening backward integration. Part of the funds will also go into research and development, with plans to set up what it described as India’s first dedicated materials science centre for critical materials.
Founded in 2016 by IIT Delhi graduates, Chakr Innovation develops clean-tech products such as Chakr Shield, a certified retrofit emission control device for diesel generators that reduces emissions by over 80%. The firm has installed more than 5,000 units across 2,000 customers, claiming to have cut over 2.5 million tonnes of CO₂ equivalent emissions. Its portfolio also includes Aluminium-Air battery technology, built on indigenous raw materials as an alternative to lithium-ion, alongside IoT-based monitoring and DeNOx systems.
“This funding is a major step toward realizing our vision of building world-class material science technologies from India,” said Kushagra Srivastava, founder and CEO of Chakr Innovation. “With these resources, we will expand globally, strengthen our R&D capabilities, and support the Atma Nirbhar Bharat vision.”
Iron Pillar’s Ashok Ananthakrishnan said the firm was drawn to Chakr’s “mission-driven culture” and its rapid commercialization track record. “We are proud to partner with Chakr as they expand their global footprint and continue to pioneer transformative tech worldwide,” he said.
Chakr’s technologies have received global recognition, including from the United Nations, for promoting sustainable industrial practices. The company employs over 450 people, including 200 engineers and scientists, and operates facilities in Gurugram and Pune.
The company said the fresh capital will be deployed towards expanding its manufacturing capacity, accelerating international operations, and strengthening backward integration. Part of the funds will also go into research and development, with plans to set up what it described as India’s first dedicated materials science centre for critical materials.
Founded in 2016 by IIT Delhi graduates, Chakr Innovation develops clean-tech products such as Chakr Shield, a certified retrofit emission control device for diesel generators that reduces emissions by over 80%. The firm has installed more than 5,000 units across 2,000 customers, claiming to have cut over 2.5 million tonnes of CO₂ equivalent emissions. Its portfolio also includes Aluminium-Air battery technology, built on indigenous raw materials as an alternative to lithium-ion, alongside IoT-based monitoring and DeNOx systems.
“This funding is a major step toward realizing our vision of building world-class material science technologies from India,” said Kushagra Srivastava, founder and CEO of Chakr Innovation. “With these resources, we will expand globally, strengthen our R&D capabilities, and support the Atma Nirbhar Bharat vision.”
Iron Pillar’s Ashok Ananthakrishnan said the firm was drawn to Chakr’s “mission-driven culture” and its rapid commercialization track record. “We are proud to partner with Chakr as they expand their global footprint and continue to pioneer transformative tech worldwide,” he said.
Chakr’s technologies have received global recognition, including from the United Nations, for promoting sustainable industrial practices. The company employs over 450 people, including 200 engineers and scientists, and operates facilities in Gurugram and Pune.
You may also like
Jimmy Kimmel show returns: ABC reinstates talk show pulled over Charlie Kirk remarks; 'thoughtful conversations' cited by network
Emma Watson misses acting but isn't really fond of promoting films
Big Brother's AJ Odudu slams 'disappointing' housemates ahead of new series
Coronation Street villain dies suddenly as fan favourite is issued with warning
Zoe Ball's famous father Johnny opens up on heartbreaking cancer battle
