Argus Partners Advises Arkam Ventures on its Series A investment in Chara Technologies
Argus Partners is pleased to announce that it has advised Arkam Ventures, on its Series A investment in Chara Technologies, a Bengaluru-based manufacturer of rare-earth-free electric motors. Chara Technologies has raised USD 6 million as part of its Series A round.
The funding round was led by Arkam Ventures, with participation from Exfinity Venture Partners, Kalaari Capital, and IIMA Ventures.
The company plans to utilise the funds to expand its manufacturing capacity and set-up a dedicated testing and validation facility in Bengaluru, which is expected to increase annual production five-fold - from 20,000 to 100,000 units. The investment will also support new product development including the launch of lighter, higher-speed motors, larger-capacity variants, and industrial models, as well as Chara’s international expansion strategy, aimed at strengthening its presence in Europe and entering the North American market.
The team at Argus Partners advising consisted of Ankit Guha, Jitendra Soni (Partners), Sadia Akhter (Senior Associate) and Harsh Garg, Abhirami Retheev (Associates).
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