Entellus Industries Secures Rs 50 Crore to Boost Rare Earth Magnet Production

Entellus Industries, a manufacturer of rare earth metals and alloys, has raised Rs 50 crore in funding led by ZeroW to expand its operations. The funds will be used to enhance production capacity and launch new products. The expansion aims to help Entellus produce 2,000 tonnes of magnets annually.

Entellus Industries has secured Rs 50 crore in funding, a significant financial boost led by ZeroW, aimed at scaling up its rare earth metals and alloys manufacturing operations in India. The investment focuses on expanding into sintered alloys and making existing products market-ready.

This strategic financial injection will support Entellus in increasing its production capacity to 2,000 tonnes of magnets annually. The company has previously established a strong foundation with USD 12 million from Social Capital for setting up operations in Tamil Nadu, India.

Entellus CEO Simha Kumar highlights the company's distinction in the Indian market for its technical prowess in rare earth metal and alloy manufacturing, signaling ambitions to position India as a global leader in rare earth magnet production.

(With inputs from agencies.)