Chara Technologies, co-founded by Bhaktha Keshavachar, Ravi Prasad, and Mahalingam Kaushik, is innovating in the electric motor industry with a new class of synchronous reluctance motors (SynRMs) that eliminate the need for rare earth metals. This Bengaluru-based startup aims to power electric vehicles (EVs), agricultural equipment, and household appliances while reducing dependency on scarce materials.
Keshavachar, who has a rich background in tech and entrepreneurship, along with Prasad, a veteran motor designer, and Kaushik, an embedded electronics expert, brings over a century of combined experience to the venture. Their SynRMs are already attracting interest from a variety of sectors, including electric two-wheeler and three-wheeler manufacturers, agricultural equipment companies like VST Tillers, and defense contractors such as Tata Advanced Systems.
Chara has secured initial orders from a dozen customers and plans to begin large-scale production at their Bengaluru factory, targeting 500 to 600 motors per month. The company aims to ship 4,000 motors by the end of the fiscal year. Additionally, they are developing a motor management platform for remote diagnostics and predictive maintenance.
With significant backing from investors like Exfinity Venture Partners, Kalaari Capital, and IIMA Ventures, Chara Technologies is poised to make a significant impact in the electric motor market.
