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Deeptech startup Chara Technologies, which manufactures rare-earth-free motors, has raised $6.2 million in a funding round led by Arkam Ventures, with Exfinity, Kalaari Capital, and IIMA Ventures participating.
The company plans to use the fresh funding to scale its rare-earth-free powertrain platform and achieve an annual capacity of 1 lakh units.
“The funding marks a significant milestone in Chara’s scale-up journey as it gears up to establish a new state-of-the-art factory in Bengaluru along with a dedicated testing and validation facility,”…
