India, Oct. 13 -- Deeptech startup Chara Technologies has secured INR 52 Cr (about $5.8 Mn) in its Series A funding round led by Arkam Ventures. The round also saw participation from IIMA Ventures, alongside existing investors Exfinity Venture Partners and Kalaari Capital.

In a statement, Chara said that the funds will be deployed to set up a new factory in Bengaluru to develop rare-earth-free motors and controllers, along with a dedicated testing and validation facility.

The startup said that this expansion would increase its production capacity to 1 Lakh units annually from 20,000 currently. Further, Chara is planning to launch new product lines, including lighter motors with higher speed, larger-capacity variants, and industrial mode...