The Indian power electronics firm targets rapid commercial growth as it expands manufacturing capabilities for electric vehicle chargers
Hyderabad-based power electronics start-up Leanwatts has raised $2 million in a seed funding round to expand its manufacturing operations and accelerate product development for the electric vehicle (EV) market.
The funding round, secured across two tranches, was led by Trivest Partners and supported by angel investors including Abraham George and Alok Rungta.
Established in October 2023 by BITS Pilani and NIT alumni Pradeep Chowdary, Abhilash Reddy, and Sujith Kumar, Leanwatts designs and manufactures power electronics locally. Operating from its Hyderabad facility, the firm handles the end-to-end process in-house—including hardware design, embedded firmware, testing, and quality control—to create components tailored for challenging local operating conditions, such as high ambient temperatures and electrical grid fluctuations.
The capital injection will be used to enhance production capacity at its automated facility, upgrade research and development testing laboratories, and fund advanced mechanical engineering projects.
Leanwatts’ current portfolio features portable and onboard chargers ranging from 500W to 6.6kW, serving two-wheelers, three-wheelers, and electric tractors. The business collaborates with several prominent industry partners, including Ultraviolette, Baxy Mobility, and Clean Electric.
Looking beyond immediate EV charging needs, the company’s product roadmap encompasses public charging infrastructure, rectifiers, and high-capacity power conversion platforms for broader energy applications. Leanwatts aims to build an internationally competitive, India-engineered hardware portfolio, targeting an annualised revenue run-rate of approximately $7.2 million by March 2027.
