Leanwatts raises $2M seed to scale India EV power electronics manufacturing
What's the deal? Hyderabad-based LeanwattsDealroom has a profile for this one. Try Dealroom → has raised approximately $2 million (₹17.75 crore) in seed funding across two tranches, led by Trivest PartnersDealroom has a profile for this one. Try Dealroom → with participation from angel investors Abraham George and Alok Rugta. The company designs and manufactures power electronics systems for electric mobility and energy applications.
What's the endgame? Founded in 2024 by Pradeep Chowdary, Abhilash Reddy, and Sujith Kumar, Leanwatts makes portable and onboard chargers from 500W to 6.6kW. These serve electric two-wheelers, L2 and L5 vehicles, e-tractors, and other emerging EV applications.
Where the money goes: The capital will expand manufacturing capacity, strengthen R&D and testing infrastructure, and accelerate development of new power electronics platforms. Its roadmap extends to public charging solutions, rectifiers, power modules, and broader power conversion systems.
Why now? Leanwatts already works with EV makers including Ultraviolette, Baxy MobilityDealroom has a profile for this one. Try Dealroom →, Clean ElectricDealroom has a profile for this one. Try Dealroom →, Ruchira GreenDealroom has a profile for this one. Try Dealroom →, and MoonriderDealroom has a profile for this one. Try Dealroom →, and is moving multiple programmes from validation into recurring production. It targets an annualised revenue run-rate of roughly ₹60 crore ($6.25 million) by March 2027.
The company builds integrated hardware, firmware, software, testing, and manufacturing in Hyderabad. That lets it customise products for Indian conditions — grid variation, high ambient temperatures, dust, humidity, and demanding vehicle duty cycles.
The signal: At roughly $2 million, the round sits toward the larger end of comparable seed deals. It reflects investor appetite for India-engineered EV components aimed at both domestic makers and global mobility and energy markets.
Read more: autocarpro.in
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