Indian deep-tech startup Zenergize raises $4 million
The funding will be deployed towards expanding manufacturing capacity, strengthening engineering, growing its nationwide service network and sales footprint, accelerating R&D and building operational capabilities to serve large enterprise and OEM customers.
Zenergize Technologies, an Indian deep-tech company developing indigenous SiC-based power electronics, has raised USD 4 million in a Pre-Series A round. This funding round, comprising equity and venture debt, was led by Giraffe Studios with participation from prominent industrial entrepreneurs, Zenergize said.
The fundraise follows a year of rapid product iteration followed by commercialization and will support the company’s next phase of growth as it expands manufacturing capacity and expands its sales and service network across India. The capital will also help deepen Zenergize’s capabilities as it builds globally competitive power electronics products designed and manufactured in India, the company said.
Giraffe Studios increased its existing investment in Zenergize and brought together accomplished investors, including Nikhil Sawhney of Triveni Turbine Limited; Varun Agarwal of Ellenbarrie Industrial Gases; Shyam Bagri of Bagrry’s Holdings; Raoul Bajaj of Trafigura; angel investor Sunil Kalra; Ajith Pai, former COO of Delhivery; Sandeep Barasia, former CBO of Delhivery; Nitin Jain, Managing Director of Neo Group; and Hemant Daga, CEO of Neo Bank.
“We believe this round will establish Zenergize as not only India’s first high-voltage power electronics company and a formidable player in India,” Himanshu Aggarwal, Co-founder, Giraffe Studios, said.
“The past year has demonstrated that world-class power electronics can be designed, manufactured and commercially viable in India,” Navneet Daga, Co-founder & CEO, Zenergize Technologies, said. “Our next phase is about building the manufacturing scale, engineering capability and customer partnerships required to make Indian technology globally competitive.”
Dr. Veer Karan Goyal, Co-founder & CTO, Zenergize Technologies, said the company aims to accelerate its product pipeline, with hybrid inverters, BESS and other next-generation power electronics platforms coming soon.
