Energy electronics startup Leanwatts has raised $2 million (Rs 18.15 crore) in seed funding throughout two tranches, led by Trivest Companions, with participation from angel traders Abraham George and Alok Rungta.

The investor group brings collectively seasoned funding professionals and alumni from establishments together with IIT Kanpur and IIM Ahmedabad.

Leanwatts was based in October 2023 by Pradeep Chowdary and Abhilash Reddy, alumni of BITS Pilani, and Sujith Kumar, an alumnus of NIT Surathkal and IIM Udaipur.

From its manufacturing facility in Hyderabad, Leanwatts develops and manufactures energy electronics merchandise with in-house capabilities throughout {hardware} design, embedded firmware and software program, product engineering, validation, testing and high quality.

The startup began with EV charging and immediately provides high-efficiency, high-power-density transportable and onboard chargers starting from 500W to six.6kW, serving electrical two-wheelers, L2 and L5 autos and e-tractors. It’s increasing its know-how platforms into public charging options, rectifiers, energy modules, hybrid inverters and broader energy conversion purposes for the power ecosystem.

“India’s EV and power transition creates a chance to construct globally aggressive energy electronics firms from right here. However merchandise for India need to be engineered round Indian realities — our grid circumstances, working environments and the various necessities of OEMs. We consider deep engineering and a customer-first strategy need to go collectively,” stated Sujith Kumar, Co-founder, Leanwatts.

Leanwatts can be collaborating with main engineering establishments on industry-oriented R&D programmes, aimed toward strengthening specialised engineering capability and contributing to the event of India’s energy electronics ecosystem.

“As we scale, our focus is on strengthening our provide chain, growing localisation and persevering with to spend money on manufacturing functionality. The brand new capital will permit us to speed up this journey and construct the capabilities required to reliably scale India-engineered energy electronics,” stated Abhilash Reddy, Co-founder, Leanwatts.

The Hyderabad-based startup stated it’s focusing on an annualised income run-rate of roughly Rs 60 crore ($6.25 million) by March 2027, pushed by the scale-up of current EV programmes and growth into new energy electronics purposes.