Zenergize raises $4M to scale India-made EV chargers and solar inverters
What's the deal? Gurugram-based clean tech startup ZenergizeDealroom has a profile for this one. Try Dealroom → has raised $4 million (₹38 crore) in a pre-Series A round led by Giraffe StudiosDealroom has a profile for this one. Try Dealroom →. The startup, which manufactures AC and DC chargers for electric vehicles and solar inverters, will use the capital to expand production, scale research and development, and grow its sales and servicing team in India.
Who else backed it? The round drew participation from Triveni TurbineDealroom has a profile for this one. Try Dealroom →'s Nikhil Sawhney, EllenbarrieDealroom has a profile for this one. Try Dealroom →'s Varun AgarwalDealroom has a profile for this one. Try Dealroom →, Bagrry's Holdings'Dealroom has a profile for this one. Try Dealroom → Shyam Bagri, and TrafiguraDealroom has a profile for this one. Try Dealroom →'s Raoul BajajDealroom has a profile for this one. Try Dealroom →. Angel investors Sunil KalraDealroom has a profile for this one. Try Dealroom →, former Delhivery executives Ajith PaiDealroom has a profile for this one. Try Dealroom → and Sandeep BarasiaDealroom has a profile for this one. Try Dealroom →, Neo GroupDealroom has a profile for this one. Try Dealroom →'s Nitin JainDealroom has a profile for this one. Try Dealroom →, and New BankDealroom has a profile for this one. Try Dealroom →'s Hemant Daga also joined.
What's the endgame? Founded in March 2025 by IIT Bombay alumni Navneet Daga and Veer Karan Goyal, Zenergize makes its products in Parwanoo, Himachal Pradesh. It currently produces about 2,000 inverters and 30 to 40 chargers a month, and claims an annual run rate of ₹35 crore to ₹40 crore.
The expansion: Zenergize plans to double its Parwanoo capacity and open a second facility in Delhi NCR. Together, the sites would produce 8,000 to 10,000 inverters and 70 to 100 DC chargers a month. It aims to lift its run rate to ₹80 crore to ₹90 crore by the end of 2026.
Why now? This is Zenergize's second raise in a year, following a $2 million seed round in May 2025. Chief executive Navneet Daga said the startup is developing hybrid inverters, "which we believe would be a product that the market will gravitate towards in the next 12 months."
Made in India: Zenergize says it designs and builds its products locally, including printed circuit boards and the core power converter module. Semiconductors are its only major imported component.
The signal: The round lands amid a rapid build-out of India's charging network, which counted 29,151 stations as of December 2025, including 8,805 fast chargers. With the government allocating ₹2,000 crore under the PM E-DRIVE scheme, domestic manufacturers like Zenergize are betting local production can capture the growth.
Image credit: Mulad
