Quick Take
- Plugzmart signed a Rs 100 crore MoU with the Tamil Nadu government on August 13, 2026.
- The money will scale EV charger manufacturing at Oragadam, Vallam, and expand R&D.
- The plan is to add more than 500 skilled jobs over the next three years.
Plugzmart, an EV charging company incubated at IIT Madras Research Park, signed a Rs 100 crore investment agreement with the Tamil Nadu government on August 13, 2026.
The company signed the Memorandum of Understanding at the Vettri Tamil Nadu Investment Conclave 2026 in Chennai. Tamil Nadu Chief Minister Thiru C. Joseph Vijay was present. EV means electric vehicle.
The money will expand three things. Plugzmart will grow its manufacturing footprint, its research and development, and its charging infrastructure. The company plans to add more than 500 direct jobs in three years.
Those roles cover hardware engineering, power electronics, embedded software, and advanced manufacturing. All of them sit in Tamil Nadu.
What does Plugzmart make?
Plugzmart designs and builds AC and DC fast chargers in India. The chargers range from 3.3 kW to 360 kW. AC is alternating current and DC is direct current.
The company calls itself a full-stack EV infrastructure builder. It makes the charger controllers, which meet ARAI standards. ARAI is the Automotive Research Association of India, the country’s vehicle testing body.
Plugzmart also builds Power Line Communication modules and cloud-based Charger Management Systems. A Charger Management System, or CMS, is the software that runs and monitors a charging network.
The fresh capital will scale production at the company’s plant in Oragadam, Vallam. Oragadam is an industrial hub near Chennai and a base for several vehicle makers.
Who founded Plugzmart?
Plugzmart was founded by Vivek Samynathan and Ragavendra Ravichandran. It was incubated at IIT Madras in 2019.
Vivek Samynathan is Co-Founder and Chief Executive Officer of Plugzmart. He said Tamil Nadu has built a strong ecosystem for advanced manufacturing and electric mobility.
Ragavendra Ravichandran is Co-Founder and Chief Operating Officer of Plugzmart. He said the aim is to build reliable EV charging for vehicle makers, fleet operators, and public projects.
The company raised Rs 3.63 crore in seed funding in 2022. That round was led by BlueHill Capital. This new Rs 100 crore commitment is far larger.
Why Tamil Nadu for EV charging?
Tamil Nadu is one of India’s biggest vehicle manufacturing states. It hosts plants for carmakers and parts suppliers around Chennai.
The state has courted EV investment for years. In 2023, Hyundai Motor signed a Tamil Nadu MoU to invest Rs 20,000 crore in its EV plans over ten years.
Plugzmart’s plant sits in this same corridor. Building chargers close to vehicle makers can cut supply times and costs.
The company works with automotive OEMs, fleet operators, and Charge Point Operators. OEM means Original Equipment Manufacturer, the firms that make the vehicles.
What this means for you: If you run an EV or charging startup, a homegrown maker scaling ARAI-compliant chargers means more local supply and fewer imports to depend on.
StartupFeed Insight
An MoU is a commitment, not cash in the bank. The number to watch is not the Rs 100 crore headline. It is whether Plugzmart’s Oragadam output actually rises and whether those 500 jobs appear on the ground. India still imports a large share of its EV chargers, so a domestic maker building controllers and management software in-house is the real story here. Watch for a capacity figure or a production number from Plugzmart by mid-2027. That will show if the commitment is turning into hardware.
— Avinash Mishra, Business Correspondent
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