Chakr Innovation Raises USD 23 Million in Series C Funding Led by Iron Pillar to Support Manufacturing Expansion, International Growth, and R&D

New Delhi, 22nd September 2025: Chakr Innovation, a pioneer deep-tech start-up specializing in material science, has raised USD 23 million (INR 193.5 crore) in its Series C funding round, led by Iron Pillar. The company’s existing investor base includes SBI Cap Ventures, ONGC, IAN, and Inflexor from previous rounds. Ambit Private Limited has been a valued strategic partner to Chakr Innovation, acting as an exclusive financial advisor on the successful Series C fundraise.

The newly raised capital will primarily be used to expand manufacturing capacity, accelerate international growth, and backward integration. The funds will also enable Chakr Innovation to further invest in R&D to develop advanced technologies within the clean-tech space.

Chakr Innovation has also been working on indigenous energy storage technology aimed at reducing the country’s dependence on lithium-ion chemistry. This aligns with the Prime Minister’s vision to develop indigenous technologies in the critical sector of energy storage.

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.”

This funding will empower Chakr Innovation to scale its flagship product Chakr Shield — India’s first certified retrofit emission control device that reduces diesel generator emissions by over 80% — reinforcing its mission to combat air pollution at the source. In addition to its emission control solutions, Chakr Innovation has developed Aluminium-Air technology as an alternative to lithium-ion batteries. Made from 100% indigenous raw materials, Aluminium-Air offers higher energy density and aims to reduce India’s reliance on foreign raw materials.