Hyderabad, September 4, 2026 — Leanwatts has raised approximately $2 million (₹18.15 crore) in a seed funding round led by Trivest Partners, with participation from angel investors Abraham George and Alok Rungta. The funding, raised across two tranches, will be used to strengthen the startup’s supply chain, increase localisation, expand manufacturing capabilities and scale its portfolio of power electronics products.
Founded in October 2023 by Pradeep Chowdary, Sujith Kumar and Abhilash Reddy, Leanwatts develops and manufactures power electronics solutions with in‑house capabilities spanning hardware design, embedded firmware and software, product engineering, validation, testing and quality.
Leanwatts expands beyond EV chargers
Leanwatts initially focused on the electric vehicle charging segment and has since broadened its product lineup to include portable and onboard chargers ranging from 500W to 6.6kW. Those products target applications across electric two‑wheelers, L2 and L5 vehicles, and electric tractors. With the new capital, the company plans to move beyond its existing EV charging portfolio into public charging solutions, rectifiers, power modules, hybrid inverters and other power conversion applications. The startup is also collaborating with engineering institutions on industry‑focused research and development programmes to bolster its product development capabilities.
Market context and financial targets
Leanwatts is targeting an annualised revenue run‑rate of approximately ₹60 crore ($6.25 million) by March 2027, expecting growth to be driven by expansion of existing electric vehicle programmes and the launch of products for new power electronics applications. The fresh funding is expected to support those plans by enabling greater localisation of the supply chain and increased manufacturing capacity.
The fundraising comes as India’s power electronics ecosystem draws rising investor interest across electric mobility, EV charging infrastructure, power conversion and inverters, driven by growing adoption of electric vehicles and renewable energy systems. Recent funding rounds in the segment include Zenergize Technologies’ $4 million pre‑Series A, Enerzolve Smart Technologies’ $5.1 million raise and Dynolt Technologies’ $1.7 million in 2025. Leanwatts operates in a competitive market alongside companies such as Neenjas Electric, Dynolt and IPEC, and seeks to differentiate itself through vertically integrated product development and manufacturing capabilities.
