Deeptech start-up Torus Robotics Pvt Ltd has raised a seed investment of $470,000 led by the Tamil Nadu Infrastructure Fund Management Corporation (TNIFMC), under the Tamil Nadu Emerging Sector Seed Fund (TNESSF).
The funding round also saw participation from Forge Innovation and Ventures, Coimbatore, and SINE (Society for Innovation & Entrepreneurship) IIT (Indian Institute of Technology) Bombay.
The company, founded in 2019, specialises in indigenous powertrain technology for the EV automotive market, defense, aviation, and consumer markets.
The start-up said that the funding will be strategically utilised to scale up its research and development operations, ensuring a swift transition of their groundbreaking technologies from the lab to the market.
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The start-up said that it aims to address the substantial reliance on the importation of powertrain components for the EV market, specifically motors and controllers.
“Torus's unique approach in the development of axial flux motors aligns with TNIFMC's commitment to fostering innovation/R&D in the state and investing in groundbreaking technologies that can be commercialized at scale. 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,” Karthic Ramamoorthy from Tamil Nadu Emerging Sector Seed Fund, said.
Speaking on the announcement, Vibhakar Senthil, co-founder of Torus Robotics, shared, “This funding will empower us to invest in R&D and introduce new products that can meet the changing needs of customers in the EV automotive space.”
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