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February 07, 2024 12:20 pm | Updated 12:20 pm IST – CHENNAI
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Torus Robotics was founded in 2019 by Abbhi Vignesh K., Vibhakar Senthil and Vignesh M. in Chennai | Photo Credit: Special Arrangement
Torus Robotics Pvt Ltd, a deep tech startup founded in Chennai, and specialising in indigenous powertrain technology for the electric vehicle automotive market, defence, aviation and consumer markets, has raised a seed investment of USD 470,000 led by the Tamil Nadu Infrastructure Fund Management Corporation (TNIFMC), under the T.N. Emerging Sector Seed Fund (TNESSF).
The funding round also saw participation from Forge Innovation & Ventures, Coimbatore, and SINE (Society for Innovation & Entrepreneurship) at the Indian Institute of Technology Bombay.
The startup said that the funding will be utilised to scale up its research and development operations. Besides, the company also aims to use the funds to finance other critical aspects of the business, including innovation and growth.
Vibhakar Senthil, co-founder of Torus Robotics, said the funding will help the company to invest in R&D and introduce new products that can meet the changing needs of customers in the EV automotive space.
“This partnership is strategically crafted to expedite Torus’s commercialisation initiatives and spearhead the widespread integration of axial flux technology in the electric mobility sector,” said Karthic Ramamoorthy from the T.N. Emerging Sector Seed Fund.
Founded in 2019 by Vignesh M., Vibhakar Senthil, and Abbhi Vignesh K. in Chennai, Torus Robotics specialises in compact, lightweight, and highly efficient powertrain solutions for electric vehicles. Under the FLCTD (Facility for Low Carbon Technology Deployment) programme facilitated by UNIDO (United Nations Industrial Development Organisation), the startup has secured funds earmarked for applications within the EV, industrial and energy sectors.
Their technology has undergone validation processes conducted by the Bureau of Energy Efficiency. In its initial phases, the startup also bagged substantial financial backing from Startup TN and the Entrepreneurship Development and Innovation Institute – Tamil Nadu.
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startups / Electric vehicles / Tamil Nadu / Chennai / investments / economy, business and finance
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