3
New Delhi-based cleantech startup Chakr Innovation has raised $23 million (Rs 193.5 crore) in its Series C round led by Iron Pillar. The round also saw participation from existing investors including SBI Cap Ventures, ONGC, IAN, and Inflexor.
The fresh capital will be deployed to expand manufacturing capacity, drive international growth, and strengthen backward integration. A significant portion will also go into R&D investments, particularly in indigenous energy storage technologies aimed at reducing India’s reliance on lithium-ion batteries.
