Deep-Tech Startup Chakr Innovation Secures $23M Funding Led By Iron Pillar

Chakr Innovation, a deep-tech start-up working in material science technologies, has raised USD 23 million (INR 193.5 crore) in its Series C funding round led by Iron Pillar. Existing investors SBI Cap Ventures, ONGC, IAN and Inflexor also continue to back the company. Ambit Private Limited acted as exclusive financial advisor to Chakr Innovation on the fundraise.
The capital will be used to expand manufacturing capacity, accelerate international growth, and strengthen backward integration. The company also plans to invest further in R&D for advanced clean-tech solutions.

One area of focus has been indigenous energy storage technologies that reduce dependence on lithium-ion chemistry, aligning with the government’s call to develop local capabilities in critical energy sectors.

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 home growth 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 Chakr as they expand their global footprint and continue to pioneer transformative Tech worldwide.”

The funding will support scaling of the company’s flagship product Chakr Shield, a certified retrofit emission control device that reduces diesel generator emissions by more than 80%. Chakr Innovation has also developed Aluminium-Air battery technology as an alternative to lithium-ion, made entirely from domestic raw materials and designed to reduce import reliance.

Founded in 2016 by IIT Delhi graduates, Chakr Innovation has built a portfolio that includes emission control solutions, DeNOx technology, IoT-based remote monitoring systems, and Metal-Air battery innovations. With over 5,000 installations, 2,000 customers, and 2.5 million tonnes of CO₂ equivalent emissions reduced, its technologies have been recognised globally, including by the United Nations. The company has filed more than 40 patent applications and employs over 450 people, including 200 engineers and scientists. Manufacturing facilities are located in Gurugram and Pune.


Iron Pillar, the lead investor in this round, backs Indian entrepreneurs building enterprise and consumer technology businesses for both Indian and global markets. Its portfolio includes BlueStone, Curefoods, FreshToHome, Sedemac, Servify and Uniphore.- TWL Bureau