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Chara Technologies

Category: AI in Climate / Energy

A deep-tech company building rare-earth-free, efficient, and intelligent motors and controllers for various applications. Chara Technologies was founded in 2019. The company is led by Bhaktha Keshavachar. Based in Bengaluru, India. Team size: 95-100. Total funding raised: $11.9 million. Latest round: Series A. Key investors include Arkam Ventures (Series A lead), Kalaari Capital, Exfinity Venture Partners, IIMA Ventures, BIG Capital.

Founded
2019
Headquarters
Bengaluru, India
Team size
95-100
Total funding
$11.9 million

Value proposition

To provide a sustainable, cost-effective, and high-performance alternative to traditional motors that rely on environmentally problematic and supply-chain-constrained rare-earth magnets.

Products and solutions

Synchronous Reluctance Motors (SynRM), Smart Motor Controllers, Rare-earth-free powertrain systems

Unique value

Their core innovation is the development of proprietary technology that eliminates the need for rare-earth magnets in electric motors, using synchronous reluctance motor architectures that are sustainable, cost-effective, and scalable.

Target customer

OEMs in the electric vehicle (EV), HVAC, and industrial automation sectors, including 2-wheelers, 3-wheelers, 4-wheelers, and off-highway vehicles

Industries served

Electric Vehicles (EVs), HVAC (Heating, Ventilation, and Air Conditioning), Industrial Automation, Agricultural Equipment, Off-highway Vehicles

Technology advantage

Technologically, their advantage lies in novel motor and controller designs and control algorithms that achieve high efficiency without rare-earth materials. From a business perspective, this reduces manufacturing costs by 40%, mitigates supply chain risks, and eliminates dependence on China which dominates the rare-earth market.

How they differentiate

Chara Technologies develops rare-earth-free motor technologies, specifically Synchronous Reluctance Motors (SynRM), which are a sustainable and cost-effective alternative to traditional motors that rely on rare-earth magnets. Their technology is scalable, cloud-controlled, and offers 50% energy savings with 40% cost advantage.

Main competitors

TSUYO, Zepco Technologies, Rotomag, Traditional rare-earth motor manufacturers

Key partnerships

Greaves Cotton (strategic partnership for joint manufacturing), IIMA Ventures, European OEMs

Notable customers

Greaves Cotton (strategic partner), BullWork, Sonalika, VST, European OEMs, Close to 100 total customers

Major milestones

Secured $6.2 million Series A funding led by Arkam Ventures in October 2025, Developed and field-tested rare-earth-free motor technology, Entered strategic partnership with Greaves Cotton for joint manufacturing, Filed patents for motor and controller designs and control algorithms, Expanded production capacity fivefold from 20,000 to 100,000 units annually, Serves nearly 100 customers including major OEMs

Growth metrics

Increasing annual production capacity from 20,000 units to 100,000 units; targeting 15,000 motor sales by FY26; planning to scale to 2,000 motors per month by end of 2025

Market positioning

Chara Technologies is positioned as a deep-tech startup innovating in the electric motor space, targeting the electric vehicle (EV), HVAC, and industrial automation sectors with its sustainable and efficient motor solutions. The company serves nearly 100 customers and is expanding production capacity fivefold.

Geographic focus

The company is based in Bengaluru, India, with a strong focus on the Indian market. They have partnerships with European OEMs and have expressed intentions to expand their presence in North America and Europe.

Patents and IP

Chara Technologies has filed patents for its motor and controller designs, as well as its control algorithms. Specific patent numbers are not publicly available.

About Bhaktha Keshavachar

Bhaktha Keshavachar has over 20 years of experience in the technology industry. Prior to co-founding Chara Technologies, he was the co-founder and CTO of Ezetap, a mobile payments company that was acquired by Razorpay. He also held engineering roles at Intel and Sharp Laboratories of America.

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