Close Menu
PNN DigitalPNN Digital
    Facebook X (Twitter) Instagram
    PNN DigitalPNN Digital
    • Business
    • National
    • Entertainment
    • Lifestyle
    • Education
    • Press Release
    • Submit Your PR
    PNN DigitalPNN Digital
    Home - Business - CastNX Private Limited Secures INR 23.22 Cr Investment to Drive Power Electronics Innovation
    Business

    CastNX Private Limited Secures INR 23.22 Cr Investment to Drive Power Electronics Innovation

    Abizar AttariBy Abizar AttariOctober 22, 2024No Comments2 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    CastNX Private Limited Secures ₹23.22 Cr Investment from Arpit Khandelwal, Director Plutus to Drive Power Electronics Innovation
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Ahmedabad (Gujarat) [India] October 21: CastNX Private Limited (“CastNX”), a pioneering deep-tech startup in power electronics, today announced a ₹23.22 Cr investment from Arpit Khandelwal and Plutus Investments and Holding Private Limited (“Plutus”). Additionally, Arpit has also acquired shares through secondary purchase from existing shareholders. This strategic funding will accelerate CastNX’s mission to develop energy-efficient and cost-effective power electronics solutions.

    CastNXPvt. Ltd is a deep-tech startup revolutionizing power electronics. With its India Design Centre (IDC) in Indore, Madhya Pradesh, and collaborations with IISc Bangalore, IIT Bombay and IIT Delhi, CastNX is poised to drive innovation and sustainability in the power electronics industry.

    Plutus Investments and Holding Private Limited, a Plutus Group company, is promoted by Mr. Arpit Khandelwal and Mr. Ramesh Siyani. Plutus Wealth Management LLP is the flagship entity and is a boutique proprietary investment firm with a mission to build long-term wealth by investing in select stories. Plutus follows multiple investment strategies to identify ideal investment ideas and invests in both listed and unlisted equities.

    Founded in 2020 by Ms. Sunita Tamboli and managed by Mr. Manoj Modi, CastNX has established itself as a leader in power electronics product development. Its diverse portfolio includes General Purpose Variable Frequency Drives (VFDs) for industrial applications, High-Speed Variable Frequency Drive (HSVFD) technology for aerospace engineering, material lifting drones, and high-speed machine tools, DC-DC modules for green hydrogen extractors and electric vehicle (EV) charging stations

    The investment will enhance CastNX’s research and development facilities, focusing on power electronics-based products. Funds will also support Developing a state-of-the-art testing and prototyping facility, Upgrading technological infrastructure and logistics, Doubling R&D strength in the coming years. Establishing a world-class production facility with a goal of manufacturing 1,00,000 VFDs by 2026

    “We’re committed to developing power electronics products that save energy and reduce carbon footprint. We welcome Plutus Wealth Management and look forward to continuing this journey together.” Says Mr. Manoj Modi, Managing Director, CastNX.

    “We’re thrilled to partner with CastNX, whose innovative approach and commitment to sustainability align with our investment philosophy. We’re confident CastNX will capture emerging opportunities and deliver substantial value to stakeholders.” Says Mr. Arpit Khandelwal, Director, Plutus.

    If you have any objection to this press release content, kindly contact [email protected] to notify us. We will respond and rectify the situation in the next 24 hours.

    Arpit Khandelwal CastNX CastNX Private Limited
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Abizar Attari
    • LinkedIn

    I’ve always had a fascination with storytelling. Analyzing diverse perspectives and helping people understanding them simply is my life’s motto. I live to create stories that you’d love to read. When I’m not writing, you'll find me having a leisurely stroll on the beach or in the park.

    Related Posts

    AgriAsia2025 – India’s Largest AgriTech, Livestock & Poultry Expo Returns Bigger Than Ever!

    June 28, 2025

    CoLLearn wins 1st prize in Gaming & Sports Category at Startup Mahakumbh 2025

    June 28, 2025

    Eternia: Spacious Residences For Grand Living

    June 28, 2025
    Add A Comment

    Comments are closed.

    Recent Posts
    • AgriAsia2025 – India’s Largest AgriTech, Livestock & Poultry Expo Returns Bigger Than Ever!
    • CoLLearn wins 1st prize in Gaming & Sports Category at Startup Mahakumbh 2025
    • Eternia: Spacious Residences For Grand Living
    • Debut book The Liar’s Guide by Sanjay Shukla explores the humour and psychology behind everyday lies
    • Dr. Vikas Singhal Honored with Bharat Shri Award 2025 for Advancing Evidence-Based Homeopathic Practice

    AgriAsia2025 – India’s Largest AgriTech, Livestock & Poultry Expo Returns Bigger Than Ever!

    June 28, 2025

    CoLLearn wins 1st prize in Gaming & Sports Category at Startup Mahakumbh 2025

    June 28, 2025

    Eternia: Spacious Residences For Grand Living

    June 28, 2025

    Debut book The Liar’s Guide by Sanjay Shukla explores the humour and psychology behind everyday lies

    June 28, 2025

    Dr. Vikas Singhal Honored with Bharat Shri Award 2025 for Advancing Evidence-Based Homeopathic Practice

    June 28, 2025

    Cambridge Schools Introduce Career Readiness Programs, Redefining Summer Learning

    June 28, 2025
    PNN Digital
    2025 © pnn.digital

    Type above and press Enter to search. Press Esc to cancel.