Cactus Partners made the first institutional investment in Indigrid, which was expanding from SMT-based manufacturing for automotive clients, into building advanced EV powertrains for electric two-wheelers and further widening its ESDM footprint into consumer durables and personal entertainment products.

The company benefits from strong domestic demand and a national push for localized manufacturing, positioning it well in a sector where India remains significantly underdeveloped relative to global manufacturing hubs. ... Indigrid’s founding team brings highly complementary strengths: Rishab’s deep engineering and operational expertise, shaped by his experience as a chief engineer in the merchant navy, and Sameer’s capabilities across strategy, business development, and finance. Their combined execution ability has already been demonstrated through consistent operational progress and the successful scaling of the business.

With a large untapped market, favourable policy support, and a team capable of translating opportunity into action, Indigrid is poised to build a leading presence in India’s growing electronics manufacturing ecosystem.

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