Cactus Partners Invests $5M in Indigrid Technology

Cactus Partners (CP), an early growth-stage venture capital fund, has announced a strategic investment of $5 million in Indigrid Technology, a prominent full-stack EV component supplier based in Manesar, India. This marks CP's seventh investment since its inception in January 2021, with a specific focus on bolstering the EV component manufacturing sector.

Indigrid Technology has carved out a niche in the market as a preferred vendor for a diverse range of customers, including JP Minda, Hella, Revolt, Bounce, and Xidda. With a strong emphasis on customer-centricity, deep domain expertise, and a robust product portfolio, Indigrid is poised to become a leading player in EV components both domestically and globally, aligning strongly with India's 'Make in India' initiative.

The $5 million investment from Cactus Partners will be instrumental in accelerating several key initiatives for Indigrid Technology. These include expanding production capacity significantly to meet the burgeoning demand for EV components, enhancing and diversifying their product offerings to cater to a broader customer base, and expanding their market footprint across India and international markets. Additionally, the capital infusion will be directed toward strengthening the team through strategic talent acquisition, training, and development initiatives aimed at fostering innovation and supporting sustainable growth.