Chennai-based deeptech startup The Propulsion Company (Viridian Ingni Propulsion Pvt Ltd) has raised ₹1.47 crore in a pre-seed funding round led by Inflection Point Ventures (IPV).

Chennai-based deeptech startup The Propulsion Company (Viridian Ingni Propulsion Pvt Ltd) has raised ₹1.47 crore in a pre-seed funding round led by Inflection Point Ventures (IPV). Founded in February 2024 by Sriram Gopal, the IIT Madras Research Park-incubated company develops electric propulsion systems, including motors, controllers and firmware, for electric vehicles, drones, robotics and industrial machinery.

The startup will use the fresh capital to move from validated prototypes towards pilot-scale production, including setting up a production line, acquiring manufacturing equipment and completing product certification and testing. In addition to the investment, Viridian has received ₹53.75 lakh in grants from several organisations, including SIPCOT, MeitY Startup Hub and NIDHI PRAYAS, to support its development.