Leanwatts Bags $2 Mn To Build Portable EV Chargers In India
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Khushi Jain
- September 11, 2026
Clean tech startup Leanwatts, which manufactures EV chargers, has raised $2 Mn (around Rs 18 Cr) in its seed funding round led by Trivest Partners. The round also saw participation from angel investors Abraham George and Alok Rungta.
The startup plans to use the fresh capital to accelerate research and development (R&D), strengthen its supply chain and ramp up its manufacturing capabilities.
“As we scale, our focus is on strengthening our supply chain, increasing localisation and continuing to invest in manufacturing capability. The new capital will allow us to accelerate this journey and build the capabilities required to reliably scale India-engineered power electronics,” said Leanwatts cofounder Abhilash Reddy.
Founded in 2023 by Reddy, Pradeep Chowdary and Sujith Kumar, Leanwatts designs and manufactures power electronics products for EV OEMs.
Its product portfolio includes portable and onboard chargers ranging from 500W to 6.6kW, catering to electric two-wheelers, three-wheelers and tractors. The startup claims to have developed in-house capabilities across hardware design, embedded firmware and software, product engineering and testing.
Leanwatts also operates a manufacturing facility in Hyderabad.
Expansion Plans
Going forward, Leanwatts plans to expand into new areas, including public charging solutions, rectifiers, power modules, hybrid inverters and other power conversion applications.
On the back of this expansion, the startup is targeting an annualised revenue run-rate (ARR) of nearly Rs 60 Cr by March 2027.
“At Leanwatts, we are investing in our laboratories, engineers and ability to industrialise efficient architectures, cost-effective designs, advanced materials and emerging technologies, with the objective of building technological capability that compounds over the long term,” added cofounder Chowdary.
EV Charging Ecosystem Drives Investor Interest
The fundraise comes amid the rapid build-out of India’s charging ecosystem. As of December 2025, the country was home to 29,151 EV charging stations, including 8,805 fast-charging stations.
To support this expansion, the Centre has rolled out a slew of sops under the PM E-DRIVE scheme to improve the EV charging network.
Investors are also showing increasing interest in the space. Earlier this week, Zenergize, which also manufactures chargers for EVs, raised $4 Mn in its Pre-Series A funding round led by Giraffe Studios.
In February, EV charger manufacturer Statiq secured $18 Mn through a mix of equity and debt funding in a round led by Tenacity Ventures.
Last year, IPEC also raised $3 Mn in a funding round from Gruhas.
FAQs
1. How much funding has Leanwatts raised?
Leanwatts has raised $2 Mn (around Rs 18 Cr) in its seed funding round.
2. Who led Leanwatts’ seed funding round?
The round was led by Trivest Partners, with participation from angel investors Abraham George and Alok Rungta.
3. What products does Leanwatts manufacture?
Leanwatts manufactures portable and onboard EV chargers ranging from 500W to 6.6kW for electric two-wheelers, three-wheelers and tractors.
4. What is Leanwatts targeting by March 2027?
The startup is targeting an annualised revenue run-rate (ARR) of nearly Rs 60 Cr by March 2027.
5. How many EV charging stations were there in India as of December 2025?
India had 29,151 EV charging stations, including 8,805 fast-charging stations, as of December 2025.
