In a major boost for India's sustainable technology landscape, Bengaluru-based Chara Technologies has successfully raised ₹52 crore in its Series A funding round. This substantial investment will accelerate the company's mission to revolutionize motor technology for green hydrogen production.
Fueling the Green Hydrogen Revolution
The funding round was spearheaded by Accel Resources and saw enthusiastic participation from Micelio Fund and BEENEXT. This strong investor confidence underscores the growing importance of innovative solutions in the renewable energy sector.
Cutting-Edge Technology Without Rare Earth Minerals
What sets Chara Technologies apart is their groundbreaking approach to motor design. The company has developed rare-earth-mineral-free motor drives specifically engineered for electrolyzer applications in green hydrogen production. This technological breakthrough addresses critical supply chain challenges while promoting sustainable manufacturing practices.
Strategic Expansion Plans
The freshly infused capital will be strategically deployed across multiple fronts:
- Research & Development Enhancement: Accelerating innovation in motor technology and system optimization
- Team Expansion: Strengthening technical and operational capabilities with top talent
- Market Deployment: Scaling up production and commercial deployment of their innovative solutions
- Global Outreach: Expanding their technological footprint beyond domestic markets
A Vision for Sustainable Industrial Growth
Bhaktha Keshavachar, Co-founder and CEO of Chara Technologies, expressed enthusiasm about the funding achievement. "This investment represents a significant milestone in our journey to make green hydrogen production more efficient and accessible. Our technology not only eliminates dependency on rare earth minerals but also enhances the overall efficiency of hydrogen production systems."
Positioning India as a Climate Tech Leader
This funding round positions Chara Technologies at the forefront of India's growing climate technology ecosystem. As the country pushes toward its ambitious renewable energy targets, innovations like those from Chara are crucial for building a sustainable industrial infrastructure.
The successful Series A round demonstrates the increasing investor appetite for deep-tech solutions that address pressing environmental challenges while offering scalable commercial potential.
