New Delhi, February 12 Integrated electronics manufacturing company Indigrid Technology announced on Thursday that it has raised an additional Rs 40 crore in funding, marking the final close of its extended Series A round at Rs 75 crore.
The funding round was led by Cactus Partners, along with Valour Capital, with participation from ITI Growth Opportunities Fund, Vimson Group, and Global South Capital, the company said in a statement.
The Gurugram-headquartered company plans to use the fresh capital to scale up its production capacity across its recently commissioned manufacturing facilities in Manesar and Goa. The funds will also be used to enhance its technology and process capabilities and to evaluate strategic acquisitions to expand its presence in key electronics segments.
"This investment validates our vision and provides the strategic capital needed to accelerate our ambitious expansion plans in high-growth electronics verticals," said Indigrid Technology Co-Founders Rishab Puri and Sameer Narang.
The company, which operates across EMS (Electronics Manufacturing Services), ESDM (Electronic System Design and Manufacturing), and ODM (Original Design Manufacturer) sectors, serves over 35 customers in the automotive, consumer, and industrial electronics segments.
