Leanwatts Raises $2M Seed Funding to Scale EV Charger Production

Clean tech startup Leanwatts has secured $2 Mn (approximately ₹18 Cr) in a seed funding round led by Trivest Partners. The capital injection also saw participation from angel investors Abraham George and Alok Rungta, marking a significant step in the startup’s efforts to scale its local manufacturing footprint.

Founded in 2023 by Abhilash Reddy, Pradeep Chowdary, and Sujith Kumar, the Hyderabad-based company specializes in designing and manufacturing power electronics for electric vehicle (EV) original equipment manufacturers (OEMs). Its product portfolio ranges from 500W to 6.6kW, catering to electric two-wheelers, three-wheelers, and tractors.

The company plans to deploy the fresh capital to accelerate research and development (R&D), optimize its supply chain, and expand its manufacturing capabilities. According to cofounder Abhilash Reddy, the focus remains on increasing localization and scaling the production of India-engineered power electronics to meet rising demand.

Leanwatts is positioning itself to diversify beyond its current offerings by expanding into public charging solutions, rectifiers, power modules, and hybrid inverters. The startup has set an ambitious revenue target, aiming for an annualised revenue run-rate (ARR) of nearly ₹60 Cr by March 2027.

This investment arrives as India continues to aggressively build its EV charging infrastructure. As of late 2025, the country reported over 29,000 charging stations, supported by government initiatives such as the PM E-DRIVE scheme. The sector has witnessed a surge in investor interest, with recent capital inflows into firms like Zenergize and Statiq, reflecting a broader trend of institutional and venture capital betting on the long-term viability of India’s electric mobility ecosystem.