Chara Technologies Secures $6.2 Million in Funding
Chara Technologies, a Bengaluru-based deeptech start-up, has raised $6.2 million in Series A funding led by Arkam Ventures, with participation from Kalaari Capital, Exfinity, and IIMA Ventures.
Chara aims to reduce the electric mobility sector's dependence on rare-earth magnets, which account for about 40% of motor costs and are largely controlled by China.
Its magnet-free motor architecture offers several benefits, including:
- Lowering costs by 15–20%
- Improving energy efficiency
- Reducing environmental impact
Chara's innovative approach addresses a significant challenge in the electric mobility sector.
Author's summary: Chara Technologies raises $6.2 million to scale production.
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