[ad_1]
Deeptech startup Torus Robotics has raised $470K in its seed round led by Tamil Nadu Infrastructure Fund Management Corporation (TNIFMC), under Tamil Nadu Emerging Sector Seed Fund (TNESSF).
The round also saw participation from Forge Innovation & Ventures, Coimbatore, and SINE (Society for Innovation & Entrepreneurship) IIT (Indian Institute of Technology) Bombay.
The proceeds will be used to ramp up Torus Robotics’ research and development operations, ensuring a swift transition of their technologies from the lab to the market, to finance other critical aspects of the business, including innovation and growth.
Founded in 2019 by Vignesh M, Vibhakar Senthil, and Abbhi Vignesh K in Chennai, Torus Robotics aims to address the substantial reliance on the importation of powertrain components for the EV market, specifically motors and controllers.
The startup claims to offer products that are at least 50% lighter and more compact, up to 15% more efficient, and cost-effective compared to conventional alternatives.
Under the FLCTD program facilitated by UNIDO (United Nations Industrial Development Organization), the startup has successfully secured funds for applications within the electric vehicle, industrial, and energy sectors.
[ad_2]
Source link
