Deeptech startup Chara raises $4.75 million from Exfinity, others

Chara Technologies, a Bengaluru-based deep-tech company developing rare-earth-free electric motors and controllers, has raised USD 4.75 million in a pre-Series A funding round led by Exfinity Venture Partners, with participation from other strategic investors. The funding reinforces Exfinity’s focus on backing deep-tech ventures driving India’s technological self-reliance.

Chara’s patented technology is centered on developing next-generation switched reluctance motors (SRMs) that eliminate the use of rare-earth magnets—reducing supply chain dependence and costs while enhancing sustainability. Its applications span electric vehicles, HVAC systems, and industrial automation.

With this funding, Chara plans to scale production, expand its product line, and strengthen its engineering capabilities. Exfinity’s leadership in the round highlights its belief in Chara’s potential to redefine India’s role in the global electric mobility and energy efficiency ecosystem.

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