Power electronics startup Leanwatts raises $2 million in seed funding, eyes ARR scale

NEW DELHI: Power electronics startup Leanwatts said on Friday that it has raised $2 million (~₹18.15 crore) in seed funding in two tranches, led by Trivest Partners, along with participation from angel investors Abraham George and Alok Rungta.At its facility in Hyderabad, Leanwatts develops and manufactures power electronics products with in-house capabilities across hardware design, embedded firmware and software, product engineering, validation, testing, and quality.The startup initially commenced business with electric vehicle (EV) charging, and today offers high-efficiency, high-power-density portable and onboard chargers ranging from 500W to 6.6kW, serving electric two-wheelers, L2 and L5 vehicles and e-tractors.It is expanding its technology platforms into public charging solutions, rectifiers, power modules, hybrid inverters, and broader power conversion applications for the energy ecosystem.“India’s EV and energy transition creates an opportunity to build globally competitive power electronics companies from here. But products for India have to be engineered around Indian realities – our grid conditions, operating environments and the diverse requirements of OEMs. We believe deep engineering and a customer-first approach have to go together,” said Sujith Kumar, co-founder, Leanwatts.Leanwatts is also collaborating with leading engineering institutions on industry-oriented R&D programmes, aimed at strengthening specialised engineering capacity and contributing to the development of India’s power electronics ecosystem.“At Leanwatts, we are investing in our laboratories, engineers and ability to industrialise efficient architectures, cost-effective designs, advanced materials and emerging technologies, with the objective of building technological capability that compounds over the long term,” said Pradeep Chowdary, co-founder, Leanwatts.“As we scale, our focus is on strengthening our supply chain, increasing localisation and continuing to invest in manufacturing capability,” said Abhilash Reddy, co-founder, Leanwatts.Leanwatts is targeting an annualised revenue run-rate of approximately ₹60 crore ($6.25 million) by March 2027, driven by the scale-up of existing EV programmes and expansion into new power electronics applications.