Chara Technologies is a Bengaluru-based deep-tech company that has developed a synchronous reluctance motor architecture that eliminates the need for rare-earth magnets, reducing motor cost by 15–20% while matching the performance of permanent-magnet synchronous motors. Its proprietary control algorithms, power-electronics architecture and software underpin a full stack powertrain platform designed, engineered and manufactured entirely in India. The firm targets two-wheelers, three-wheelers, four-wheelers and off-highway equipment, and it is the first rare-earth-free motor maker to secure approvals from both ARAI and ICAT. Chara has filed nine patents (one granted) and counts nearly 100 customers, including Greaves Cotton, BullWork, Sonalika, VST and several European OEMs; it also has a strategic manufacturing partnership with Greaves Cotton. Current annual production capacity is 20,000 units, and the company plans to quintuple this to 100,000 units by building a new factory and testing facility in Bengaluru. Upcoming product lines will include lighter high-speed motors, higher-capacity variants and industrial models, further broadening its end-to-end powertrain offering.

Total raised

$7M

Funding rounds

2

Latest round

Series A

Latest activity

Oct 2025