Founded in 2021 and headquartered in Bengaluru, Flextron is redefining EV charging with lightning-fast tech and a smart subscription model.
The company was established by Mukesh R. Jogi, Ameen Khan, Crystal Lobo, Nipun N. Pise, and Royan Rebello, who have known each other for over a decade, having attended the same university in 2012.
Flextron, with a team of over 30 members, including specialists in thermal management, structural engineering, and simulation, focuses on fast-charging solutions for electric two-wheelers. The company has developed FlexStack, a battery pack optimised for rapid charging, and FlexGrid, a DC fast charger capable of delivering a full charge in 10 minutes without requiring grid upgrades.
“Our innovations are protected by patents that focus on an advanced charging algorithm and a thermal management system, allowing us to accelerate ion movement within battery cells without causing degradation. At Flextron, our core innovation lies in achieving the perfect balance between charging speed and battery longevity, which makes our solutions unique and distinguishes us in the industry,” explains Ameen.
Ameen explains that ‘Flex’ in Flextron symbolises the flexibility of electrons, ensuring seamless flow.
In its first year, Flextron started manufacturing 3.3kW and 7.5kW chargers, installing over 15,000 units across India. Driven by customer feedback, the company advanced its technology, leading to the development of its current fast-charging solutions.
The startup’s primary market is the last-mile delivery segment, focusing on fleet operators and OEMs. The company offers its products on a subscription-based model, allowing fleet operators to rent battery packs with an upfront payment followed by monthly charges.
“This model lowers financial barriers for customers while ensuring consistent monthly revenue,” Ameen shares.
The company’s production facility in Bengaluru manufactures AC and DC chargers, while contract manufacturers produce battery packs. Ameen explains that integrating Flextron’s technology involves a rigorous testing process and customisation to ensure seamless compatibility with existing vehicles. Fleet operators send their cars to the company’s facility, where the battery is integrated, tested, and fine-tuned to meet specific requirements. IoT and telematics systems are also incorporated to enable tracking and immobilisation features. After a pilot testing phase lasting 15-30 days, orders are finalised and delivered within 35-40 days.
Flextron also provides comprehensive dashboards to fleet operators, offering detailed analytics on battery health, performance, and usage, helping them optimise operations and make informed decisions.
The startup aims to tackle critical challenges in the EV ecosystem, particularly the high capital and operational expenses, by offering chargers at a fraction of the cost of battery-swapping stations. This cost-effectiveness, coupled with the compact design of their chargers, helps fleet operators significantly lower their total cost of ownership. However, the company faces risks tied to its subscription model, particularly the potential liabilities of returned battery packs. The company actively seeks partnerships with asset financiers familiar with the EV ecosystem to support its battery-as-a-service model.
Flextron’s growth strategy focuses on expanding its presence in India, starting with Karnataka and extending to Hyderabad, Delhi, Pune, and Mumbai. The company aligns with government initiatives, such as the PM eDrive scheme, supporting charging infrastructure expansion.
Flextron is transitioning from a pre-revenue phase to generating significant revenue, expecting to achieve $0.5 million by the end of the fiscal year. Over the next three to four years, the company aims to capture 600,000 EV users in the last-mile delivery market, positioning itself as a key player in the EV charging ecosystem.
