Indian EV charging startup Leanwatts raises $2 million
Leanwatts initially focused on EV charging and offers portable and onboard chargers with power ratings from 500W to 6.6kW. The company plans to expand into areas like public charging solutions, rectifiers, power modules, hybrid inverters and power-conversion systems.
Hyderabad-based EV charging startup Leanwatts has raised about USD 2 million in a seed funding round across two tranches led by Trivest Partners. The round also saw participation from angel investors Abraham George and Alok Rungta, Leanwatts said in a post on LinkedIn.
The startup plans to utilise the funding to accelerate R&D, strengthen its supply chain and expand manufacturing capacity.
“As we scale, our focus is on strengthening our supply chain, increasing localisation and continuing to invest in manufacturing capability,” said Leanwatts co-founder Abhilash Reddy, according to a report by Inc42. “The new capital will allow us to accelerate this journey and build the capabilities required to reliably scale India-engineered power electronics.”
Leanwatts initially focused on EV charging and currently offers portable and onboard chargers with power ratings from 500W to 6.6kW. Its products are used across electric two-wheelers, L5 vehicles and e-tractors.
In the future, the company plans to expand into areas like public charging solutions, rectifiers, power modules, hybrid inverters and broader power-conversion systems.
“India’s EV and energy transition creates an opportunity to build globally competitive power electronics companies from here,” said Sujith Kumar, Co-founder, Leanwatts, according to a report by Indian Startup News. “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.”
