Bengaluru-based deep-tech startup Chara Technologies has raised Rs 52 crore in a Series A funding round, led by Arkam Ventures, with participation from Exfinity Venture Partners, Kalaari Capital, and IIMA Ventures. The funds will support a new manufacturing facility in Bengaluru, the launch of advanced motor variants, and enhancement of the company’s in-house powertrain technology capabilities.

Founded in 2019 by Bhaktha Keshavachar, Mahalingam Koushik B, and Ravi Prasad, Chara specializes in rare-earth-free electric motors and controllers for electric vehicles, industrial machinery, and agricultural equipment. Its synchronous reluctance architecture eliminates magnets entirely, making motors 15-20% more cost-effective and eco-friendly while maintaining performance. Proprietary motor control algorithms, power electronics, and software deliver improved range, reduced energy losses, and lower total cost of ownership.

Serving nearly 100 clients including Greaves Cotton, BullWork, Sonalika, and VST, Chara has partnered with Greaves to manufacture rare-earth-free motors. With operations in Belgium and Italy, the company aims to expand into North America and Europe, target sixfold revenue growth by FY26, and sell 40,000 motors by FY27, positioning itself as a global leader in sustainable electric powertrains.