India, Sept. 9 -- Electric vehicle (EV) component maker Indigrid Technology has raised $4 Mn (INR 35.2 Cr) as part of a strategic funding round from existing investor Cactus Partners.

In a statement, the startup said that it plans to utilise the funds for expanding production capacity and offerings, enhancing automation, ramping up hiring and broadening presence both in India and other global markets.

Speaking with Inc42, Indigrid cofounder Sameer Narang said that a chunk of the proceeds will be utilised to set up additional facilities in Goa and Haryana's Manesar.

Founded in 2015 by Narang and Rishab Puri, Indigrid Technology is a full stack electronics component manufacturer with in-house design and manufacturing capabilities. The De...