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Chara Technologies has raised ₹52 crore, in Series A funding led by Arkam Ventures.
Chara Technologies develops rare-earth-free electric motors and controllers, offering efficient, cost-effective, and sustainable solutions for EVs and industrial applications.
What’s brewing: the latest funding comes as the company gears up to set up a new factory in Bengaluru, with a testing and validation facility. The expansion is set to boost production capacity fivefold, from 20,000 to 100,000 units a year.
Chara is also broadening its product lineup, with plans to roll out lighter, higher-speed motors and industrial variants, while strengthening its expertise in controls, algorithms, and system efficiency.
Why it matters: China currently supplies over 80% of the world’s rare-earth elements, and new export restrictions are stirring fresh supply chain concerns. Chara’s homegrown approach offers a timely and sustainable alternative.
As India accelerates its shift toward electric mobility, companies like Chara are stepping up to build critical components locally. This approach reduces dependence on global supply chains and enables the development of technologies suited to India’s cost and performance needs.
