Chara Technologies Bags $6 Million in Series A to Power Rare-Earth-Free EV Revolution In a major boost to India’s deep-tech and electric vehicle (EV) ecosystem, Bengaluru-based Chara Technologies
In a major boost to India’s deep-tech and electric vehicle (EV) ecosystem, Bengaluru-based Chara Technologies has raised Rs 52 crore (approximately $6 million) in a Series A funding round led by Arkam Ventures. Other big-name investors like Exfinity Venture Partners, Kalaari Capital, and IIMA Ventures also participated.
But what sets Chara apart? The startup is tackling one of the EV industry’s biggest bottlenecks — dependency on rare-earth materials — with a radically different approach.
The $6 million infusion will help Chara Technologies:
This isn’t just another EV startup raising capital — this is a deep-tech company aiming to disrupt the very core of how electric motors are built.
Founded in 2019 by Bhaktha Keshavachar, Mahalingam Koushik, and Ravi Prasad, Chara is solving a problem most EV companies avoid: the heavy reliance on rare-earth elements like neodymium and dysprosium — critical components in traditional electric motors, but environmentally damaging and geopolitically risky.
Chara’s solution? Completely rare-earth-free electric motors and controllers, designed in India and built for global scalability.
Chara’s motors are being developed for a wide range of high-impact sectors:
Their motors are not only rare-earth-free but also promise higher efficiency, lower heat loss, and easier recyclability — all while being more sustainable and cost-effective.
Bhaktha Keshavachar, one of the co-founders, is a seasoned entrepreneur and ex-Intel technologist. He’s known for bringing deep hardware innovation to Indian startups. The leadership team blends technical excellence with strategic vision, giving Chara a solid edge in a market often dominated by legacy players and international suppliers.
Before this Series A round, Chara had raised $4.75 million in a pre-Series A led by Exfinity Venture Partners. That earlier funding helped validate its motor tech, run successful pilots, and attract industrial and automotive partners across India and abroad.
With this latest round, Chara is now eyeing commercial-scale deployment and mass production — putting it on the radar of global EV players.
The push for rare-earth-free motors isn’t just about cost — it’s also about global supply chain independence, environmental sustainability, and technological sovereignty.
Countries worldwide, including the US, Japan, and India, are trying to cut reliance on China, which dominates the global rare-earth market. Chara’s tech could help India leapfrog into a leadership position in clean, sustainable powertrain solutions.
Chara Technologies is a rare breed of Indian startup — one that’s solving hard engineering problems instead of just building apps. With the global EV market expected to surpass $800 billion by 2030, the opportunity is massive.
This funding round is not just a win for Chara, but a strong signal that India’s deep-tech and climate-tech sectors are entering a new era of innovation and global relevance.
