Electronic system design and manufacturing (EDSM) manufacturer Tiea Connectors has raised ₹77 crore in a Series A funding led by IvyCap Ventures. This comes just after the ₹22 crore pre series A funding that was led by Jamwal ventures.
The Series A round also saw participation from Jamwant Ventures and 8X Ventures, along with select HNI angel investors.
These Funds will be used to scale up manufacturing, improve engineering and innovation. . The funding round was led by Ivycap ventures along with Jamwant Ventures, 8X Ventures and select HNI angel investors.
Ajit Sasidharan, CEO and Co-Founder of Tiea Connectors, said, “This investment marks a significant milestone in TIEA’s growth journey. We are delighted to partner with IvyCap Ventures, whose strategic vision and long-term approach strongly align with our aspirations.” He added that this funding will be used to bolster their capabilities and expand their portfolio.
Founded in 2019, the company was incubated by the Indian institute of science (IISC) with the aim to propel India’s (EDSM) skills. They previously acquired pre seed funding of ₹3.81 crores from the technology development board and $1.43 million from plantain tree ventures followed by seed funding of approximately ₹2.54 crores.