CastNX Secures Strategic Investment to Revolutionize Power Electronics

CastNX Private Limited, a deep-tech startup in power electronics, has secured a ₹23.22 Cr investment from Arpit Khandelwal and Plutus Investments. This funding will accelerate their mission to develop energy-efficient solutions. Plutus is known for its long-term wealth-building strategies by investing in select stories.

In a significant financial boost, CastNX Private Limited, a pioneering deep-tech startup in power electronics, has announced a substantial ₹23.22 Cr investment from Arpit Khandelwal along with Plutus Investments and Holding Private Limited. This strategic influx of capital is set to expedite CastNX's mission of innovating energy-efficient and cost-effective solutions in the power electronics sector.

With an India Design Centre in Indore and collaborations with prestigious institutes like IISc Bangalore, IIT Bombay, and IIT Delhi, CastNX is at the forefront of driving sustainable advancements in power electronics. Founded in 2020 by Ms. Sunita Tamboli and managed by Mr. Manoj Modi, the company's diverse portfolio encompasses industrial drives, aerospace engineering technology, and solutions for electric vehicles.

Plutus, promoted by Mr. Arpit Khandelwal and Mr. Ramesh Siyani, is renowned for its strategic investments, seeking stories with long-term potential across listed and unlisted equities. Their investment in CastNX aims to enhance R&D facilities, bolster production capabilities, and support the development of a high-tech testing infrastructure. This partnership marks a collaborative effort to capture emerging market opportunities while promoting sustainability.

(With inputs from agencies.)