What Chara Technologies does

Chara Technologies is a Bengaluru-based deep-tech startup that designs and manufactures rare-earth-free Synchronous Reluctance Motors (SynRM) and intelligent motor controllers for electric vehicles and industrial applications. Founded around 2020 during the COVID-19 pandemic, the company has built a portfolio of six motor system families — SYRGG, SYRAH, SYRTT, SYRTW, SYRSH, and SYRVK — spanning 5.5HP industrial units up to 21kW EV powertrains. The core technology replaces permanent magnets with multi-layer steel rotor laminations that exploit magnetic reluctance, paired with proprietary Drive Control Firmware that runs Field-Oriented Control algorithms, real-time torque loops, and proactive diagnostics. Peak motor efficiency is rated up to 94% and controller efficiency up to 97.5%, with the company claiming performance parity with PMSM at roughly 15% lower system cost.

The go-to-market is B2B OEM-embedded, selling integrated motor-controller systems directly to electric vehicle manufacturers and industrial OEMs in India through enterprise field sales. Chara cites approximately 75 customers including VST, Greaves Cotton, and Sonalika as anchor accounts, and runs manufacturing through a partnership with Greaves Cotton at their Shendra, Aurangabad facility while building a new Bengaluru factory to scale capacity five-fold. Revenue is generated primarily through hardware sales of motor systems; the company projects ₹45 crore in booked revenue and ₹20 crore in shipped revenue for the current fiscal year, with current capacity at 2,000 motors per month targeting 100,000 motors annually.

Chara has raised approximately $10.75 million across two main rounds — a $4.75M pre-Series A led by Exfinity Venture Partners in January 2023 and a ₹52 crore (~$6M) Series A led by Arkam Ventures in October 2025 — with additional participation from Kalaari Capital, Big Capital, Log9 Materials, CIIE.co, IISc, and IIMA. The company is ISO 9001:2015 certified and won the National Startup Awards 5.0 in 2025. Geographic footprint is currently India-only, with stated plans to expand into North American and European markets using Series A proceeds, positioning itself against Chinese rare-earth supply concentration risks as a structural tailwind.

Name

Chara Technologies

Legal name

Chara Technologies

Website

https://chara.co.in

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Chara Technologies designs and manufactures rare-earth-free synchronous reluctance motors and intelligent controllers for electric vehicles and industrial applications. The Bengaluru-based company serves Indian OEMs including VST, Greaves Cotton, and Sonalika through direct B2B sales and a manufacturing partnership.

Ownership category

akta.pro rank

Product category

Electric Vehicle Powertrain Components

NAICS

Relay and Industrial Control Manufacturing (335314), Motor Vehicle Electrical and Electronic Equipment Manufacturing (33632)

SIC

Motors & Generators (3621), Electronic & Other Electrical Equipment (No Computer Equip) (3600)

akta.pro primary industry

AC Motors (Induction, Synchronous) (IMAGACAA)

akta.pro secondary industries

Motion Control Electronics & Controls (Controllers, Drivers, Feedback Interfaces) (IMAHAGAJ), Motion Control Controllers & CNC/Robot Drives (Motion Controllers, Multi-axis) (IMAGACAH)

Keywords

• Rare-earth-free motors
• Synchronous reluctance motors
• Motor controllers
• Electric vehicle powertrains
• Industrial motor systems

Headquarters

HQ city

Bengaluru

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Supply Chain, Personnel, Operations, Marketing or Sales

Revenue model

1. Motor and Controller Sales: Sale of rare-earth-free synchronous reluctance motors and intelligent controllers to EV manufacturers and industrial applications. Hardware sales model with motors ranging from 5.5Hp to 21kW for electric vehicles and industrial use.

Go-to-market motion3 records

Distribution channels3 records

Marketing channels6 records

Core offering

Chara Technologies designs and manufactures rare-earth-free Synchronous Reluctance Motor (SynRM) systems paired with intelligent controllers for electric two-wheelers, three-wheelers, four-wheelers, and industrial applications. The motors use magnetic reluctance principles with multi-layer steel lamination rotors and no permanent magnets, delivering peak motor efficiency of 91–94% and controller efficiency of 97–97.5% at 15% lower cost than Permanent Magnet Synchronous Motors. The integrated motor-controller systems are sold B2B to EV OEMs and industrial equipment manufacturers.

Product overview

Chara Technologies offers a portfolio of rare-earth-free Synchronous Reluctance Motor (SynRM) systems ranging from 8kW to 45kW for electric vehicles, plus a 5.5HP industrial motor variant. The product line consists of six distinct motor system families (SYRGG, SYRAH, SYRTT, SYRTW, SYRSH, SYRVK) paired with intelligent controllers powered by proprietary Drive Control Firmware (DCF). The integrated motor-controller systems provide plug-and-play solutions for electric 2-wheelers, 3-wheelers, 4-wheelers, and industrial applications, with efficiency ratings of 91-94% for motors and 97-97.5% for controllers. All products eliminate dependence on rare-earth magnets while matching permanent magnet motor performance at approximately 15% lower cost.

Differentiator

Problem solved

Functional benefit

Products and services

• SYRGG Motor System The SYRGG is an 8 kW rare-earth-free synchronous reluctance motor and controller system suitable for medium-speed scooters, low-power 3-wheelers, and agricultural equipment, with peak motor efficiency of 91% and controller efficiency of 97.5%.
• SYRAH Motor System The SYRAH is a 12 kW rare-earth-free synchronous reluctance motor and controller system suitable for high-speed scooters, medium-size motor bikes, passenger 3-wheelers, and agricultural equipment, with peak motor efficiency of 92% and controller efficiency of 97%.
• SYRTT Motor System The SYRTT is a 12 kW rare-earth-free synchronous reluctance motor and controller system suitable for electric motorbikes, passenger 3-wheelers, golf carts, forklifts, and agricultural equipment, with peak motor efficiency of 93% and controller efficiency of 97%.
• SYRTW Motor System The SYRTW is a 14 kW rare-earth-free synchronous reluctance motor and controller system suitable for electric motorbikes, cargo 3-wheelers, golf carts, forklifts, industrial vehicles, and agricultural equipment, with peak motor efficiency of 94% and controller efficiency of 97.5%.
• SYRSH Motor System The SYRSH is a 21 kW rare-earth-free synchronous reluctance motor and controller system suitable for electric motorbikes, passenger 3-wheelers, golf carts, forklifts, and agricultural equipment, with peak motor efficiency of 93.5% and controller efficiency of 97.5%.
• SYRVK Industrial Motor System The SYRVK is a 5.5 HP rare-earth-free industrial motor and controller system suitable for industrial applications, pumps, and agricultural equipment, featuring IE5+ efficiency rating, IEC 60034 compliant design, IP67-rated controller, and MODBUS/CANOpen communication support, with peak motor efficiency of 94% and controller efficiency of 97%.
• Smart Controllers Smart Controllers are advanced motor controllers with Drive Control Firmware (DCF) that drive Field-Oriented Control (FOC) algorithms, real-time torque control execution, proactive diagnostics, and thermal management, with isolated CAN 2.0B communication, EMC IEC CISPR-25 qualification, IP67/IP68 rated design, and VCU-free architecture support.

Quantifiable outcome

• 50% energy savings compared to conventional motors
• +6 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability2 records

Feature9 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Greaves CottoncoreStrategic or Co-development Partner · 10 April 2025Manufacturing partnership to manufacture rare-earth-free synchronous reluctance motors and controllers for electric mobility applications at Greaves' facility in Shendra, Aurangabad. Collaboration aims to enhance EV supply chain resilience and supports India's national objective of reducing fossil fuel dependency.
• IISc (Indian Institute of Science)minorStrategic or Co-development PartnerBacker/investor mentioned in company branding, indicating academic partnership for technology development.
• IIMA (Indian Institute of Management Ahmedabad)minorStrategic or Co-development PartnerBacker/investor mentioned in company branding, indicating academic/business partnership.

Scale indicators11 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Turntide Technologies: US-based company developing switched reluctance motors (SRMs) that also eliminate rare-earth permanent magnets for HVAC, industrial, and EV applications. Directly comparable to Chara as both pursue rare-earth-free motor platforms targeting similar efficiency and sustainability use cases.
• Equipmake: UK-based electric motor technology company specializing in high-power electric motors and inverters for EVs, aerospace, and industrial markets. Comparable to Chara as an independent motor technology provider targeting niche EV and industrial applications with proprietary motor designs.
• Saietta Group: UK-listed company developing axial-flux and proprietary electric motors for light EVs, including electric two-wheelers and three-wheelers. Comparable to Chara in targeting emerging market EV applications with innovative motor topologies that challenge permanent magnet incumbents.
• Agni Motors: Indian electric motor manufacturer serving automotive and industrial applications with BLDC and PMSM motors. Comparable to Chara as an India-based motor technology company targeting the same EV OEM customer base with adjacent motor technologies.

Broad incumbents

• Tesla (Drivetrain Division): Tesla is developing its own rare-earth-free permanent magnet motor for next-generation drivetrains and operates massive in-house motor manufacturing. Comparable as a competitor advancing rare-earth-free motor technology, though Tesla's scale and captive use case differ from Chara's merchant OEM model.
• BorgWarner: Major US automotive powertrain supplier with extensive electric motor portfolio for passenger and commercial EVs. Comparable as a Tier-1 supplier offering motor solutions to global OEMs, though BorgWarner operates at significantly larger scale and uses conventional permanent magnet architectures.
• Nidec Corporation: Japanese global leader in motors and electronics, including automotive traction motors through Nidec Mobility. Comparable as a major motor manufacturer serving EV OEMs with both rare-earth and rare-earth-free variants, though at vastly larger scale than Chara.
• ZF Friedrichshafen: German automotive supplier with growing electric motor and drivetrain portfolio through ZF's e-mobility division. Comparable as a Tier-1 EV motor supplier with global OEM relationships, though operating across a broader portfolio beyond motors.
• Mahle GmbH: German automotive supplier developing electric motors including rare-earth-free variants for traction applications. Comparable as an established Tier-1 supplier investing in next-generation motor technologies, though Mahle's portfolio extends well beyond motors.

Regional players

• Tara Machines: India-based component manufacturer serving automotive OEMs with precision-machined components. Adjacent peer as another India-based automotive technology supplier serving similar OEM customers, though focused on different product categories.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/chara_tech
• YouTubeyoutube.com/@charatechnologies/featured
• Facebookfacebook.com/charatech
• LinkedInlinkedin.com/company/chara-tech

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds4 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Chara Technologies