Hyderabad-based power electronics startup Leanwatts has raised about $2 Mn in seed funding across two tranches, led by Trivest Partners.
The round also drew angel investors Abraham George and Alok Rungta. In rupee terms the amount is about Rs 18.15 crore, the company said on September 4, 2026.
Leanwatts was founded in October 2023 by Pradeep Chowdary, Abhilash Reddy and Sujith Kumar. Chowdary and Reddy are alumni of BITS Pilani. Kumar studied at NIT Surathkal and IIM Udaipur.
The startup designs and makes power electronics in-house. Its work spans hardware design, embedded firmware, software, product engineering, validation and testing. It runs a manufacturing facility in Hyderabad.
Leanwatts started in EV charging. It now sells portable and onboard chargers rated from 500W to 6.6kW. These serve electric two-wheelers, L2 and L5 vehicles, and electric tractors.
The new capital will strengthen the supply chain, raise localisation and expand manufacturing. Leanwatts plans to move beyond EV charging into public charging, rectifiers, power modules and hybrid inverters.
The company is targeting a revenue run-rate of about Rs 60 crore ($6.25 Mn) by March 2027. Growth is expected from its EV programmes and new power electronics products.
“India’s EV and energy transition creates an opportunity to build globally competitive power electronics companies from here,” said Sujith Kumar, co-founder of Leanwatts. He added that products for India must be engineered around Indian grid conditions and OEM needs.
Leanwatts competes with firms such as Neenjas Electric, Dynolt and IPEC. In the wider sector, Zenergize Technologies recently raised $4 Mn and Enerzolve Smart Technologies raised $5.1 Mn.
What this means for you: A vertically integrated hardware startup hitting a Rs 60 crore run-rate target is a signal that India-engineered power electronics is drawing real seed money.
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