Chakr Innovation Raises $23M Series C to Expand Manufacturing and R&D

Chakr Innovation is a deep-tech start-up focused on material science and clean-technology solutions. The company says its product portfolio targets pollution control and alternative energy-storage pathways using indigenous inputs.

The company has raised USD 23 million (INR 193.5 crore) in a Series C round led by Iron Pillar, the company said. Existing investors include SBI Cap Ventures, ONGC, IAN and Inflexor. Ambit Private Limited acted as the exclusive financial adviser on the transaction. 

The company said the funds will be used to expand manufacturing capacity, accelerate international growth, pursue backward integration and increase investment in research and development focused on clean-tech applications. Chakr Innovation is also working on indigenous energy-storage technology intended to reduce reliance on lithium-ion chemistry.

Kushagra Srivastava, Founder & CEO of Chakr Innovation, said, "This funding is a major step toward realizing our vision of building world-class material science technologies from India. With these resources, we will expand globally, strengthen our R&D capabilities, and establish the country’s first dedicated materials science center focused on critical materials. Our focus remains on enabling industries to operate sustainably while supporting the Prime Minister’s Atma Nirbhar Bharat vision."

Speaking on the investment, Ashok Ananthakrishnan from Iron Pillar said, "In Chakr Innovation, we discovered a rare homegrown deep tech company tackling India's growing pollution crisis and energy storage challenges. What attracted us to Chakr was the mission-driven culture of the company and the successful commercialization of its R&D efforts in a short span of 7 years. Not to mention the talented engineers and PhDs who have returned to India, giving up lucrative careers in MNCs abroad. We are proud to partner with Chakr as they expand their global footprint and continue to pioneer transformative tech worldwide."

The company said the capital will support the scale-up of its flagship product, Chakr Shield—described in the release as India’s first certified retrofit emission control device that reduces diesel generator emissions by over 80%—and further development of aluminum-air technology, presented as an alternative to lithium-ion batteries and made from 100% indigenous raw materials.

Key details

• Amount: USD 23 million (INR 193.5 crore)—Series C.
• Lead investor: Iron Pillar.
• Other investors: SBI Cap Ventures, ONGC, IAN, and Inflexor.
• Adviser: Ambit Private Limited (exclusive financial adviser).
• Use of proceeds: manufacturing expansion, international growth, backward integration, and R&D.
• Products highlighted: Chakr Shield (retrofit emission control) and aluminium-air energy-storage technology.