Chakr Innovation raises funds from Neev Fund II
- ByTejika Bajaj | November 23, 2021
The cleantech startup Chakr Innovation announced that it has raised an undisclosed amount as a part of its Series B growth capital from Neev Fund II, which is managed by SBICap Ventures. The startup has raised multiple rounds of funding prior to this from industry leaders like IAN Fund, ONGC, Parampara Capital and Globevestor.
Talking about the recent investment in clean-tech startup, the CIO of Neev Funds, Manav Bansal stated, “Neev Fund has a leadership status in environmentally and socially conscious investing. With investment in Chakr the fund has unlocked their value of being the vanguard of building a new generation of climate tech SMEs.”
Founded in 2016 by IIT graduates, Chakr Innovation is a technological startup which has developed a device that mitigates pollution at its source and captures harmful particulate matter emissions. The startup further intends to expand its product offerings by developing multiple indigenous technologies like metal-air battery technology.
Expressing their views on the recent infusion of growth capital, the founders of Chakr Innovation, Kushagra Srivastava and Bharti Singla said, “Climate action and environmental sustainability are the need of the hour to save India’s cities and clean air action has been our mission since we founded Chakr in 2016. This equity infusion will help accelerate commercialisation of our innovative technologies for climate action and also help us expand our world-class customer base.”
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