TLDR:
- Cactus Partners invests $5 million in Indigrid Technology, a full stack EV component supplier.
- The investment will help Indigrid Technology become a preferred vendor to 2W/3W OEMs.
Cactus Partners, an early growth-stage venture capital fund, has invested $5 million in Indigrid Technology, a full stack EV component supplier. This marks the seventh investment by the fund and the second in the EV component manufacturing space. Indigrid Technology, with its manufacturing operations in Manesar, is already a preferred vendor to customers like JP Minda, Hella, Revolt, Bounce, and Xidda. The capital infusion will help the company significantly expand its production capacity, enhance product offerings, broaden market presence, and strengthen the team through talent acquisition and development.
The co-founders of Indigrid, Sameer Narang and Rishab Puri, expressed excitement about the partnership with Cactus Partners, stating their alignment in goals and values as a key factor in the collaboration. The co-founder of Cactus Partners, Amit Sharma, praised the commitment and dedication of the Indigrid team and highlighted the support the fund will provide to the company beyond capital infusion.
Key Points:
Cactus Partners invests $5 million in Indigrid Technology, a full stack EV component supplier, to help the company expand its production capacity and market presence.
Indigrid Technology aims to become a preferred vendor to 2W/3W OEMs with the support of the capital infusion from Cactus Partners.
The partnership between Cactus Partners and Indigrid Technology is driven by a shared vision for a sustainable future powered by advanced EV technologies.
