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Hyderabad-based Leanwatts has raised around $2 million in seed funding to grow its EV charging and power electronics business. The round was led by Trivest Partners, with participation from angel investors Abraham George and Alok Rugta.
The startup is working on a practical but important part of India’s electric vehicle journey which is chargers. While most people talk about EV scooters, bikes, cars and batteries, the charger inside or outside the vehicle is just as important. If charging is slow, unreliable or not suited for Indian conditions, EV adoption becomes harder.
What Leanwatts does
Leanwatts designs and manufactures EV chargers and power electronics systems. Its products include portable chargers, onboard chargers and charging solutions for electric two-wheelers, three-wheelers, four-wheelers, L2 and L5 category vehicles, e-tractors and other new EV use cases.
In simple terms, the company builds the systems that help electricity flow safely and efficiently into an electric vehicle’s battery.
The company’s product range reportedly covers chargers from 500W to 6.6kW, while its public profiles also mention solutions starting from 300W. These chargers are meant for vehicle makers and fleet operators that need reliable, cost-effective hardware.
Founder and founding year
Leanwatts India Private Limited was incorporated in October 2022 by Pradeep Chowdary, Abhilash Reddy and Sujith Kumar as the founding team.
The company is based in Hyderabad and focuses on designing and manufacturing its products in India. That matters because Indian EVs often face tough daily use, including heat, dust, voltage fluctuations, humidity and long running hours.
Aim of the startup
Leanwatts’ main aim is to build reliable and affordable EV charging products for Indian conditions.
For example, an e-rickshaw may run for long hours every day. An electric scooter may be charged in areas where voltage is not stable. An e-tractor may work in dusty farms. A charger built only for clean lab conditions may not survive this kind of use for long.
Leanwatts wants to solve this gap with locally designed hardware, firmware, testing and manufacturing. Firmware means the small built-in software that controls how the charger behaves.
Purpose of the funding
The $2 million seed funding will be used to expand manufacturing capacity, strengthen research and development, improve testing infrastructure and build new power electronics platforms.
The company also plans to work on public charging solutions, rectifiers, power modules and broader power conversion systems. These products can serve not only EVs, but also energy and industrial applications in the future.
Reports say Leanwatts already works with EV companies such as Ultraviolette, Baxy Mobility, Clean Electric, Ruchira Green and Moonrider. The company is also targeting an annualized revenue run rate of about Rs. 60 crore by March 2027.
Competitors in the market
Leanwatts operates in a competitive EV charging hardware space. Its competitors and adjacent players include Exicom, Servotech Power Systems, Delta Electronics, Zenergize Technologies and other Indian EV charger manufacturers.
Its edge may come from local product design, customization for OEMs and a sharper focus on compact power electronics for smaller EV categories.
Conclusion – Key takeaways
Leanwatts’ $2 million seed funding shows growing investor interest in India’s EV component ecosystem.
The startup’s aim is to make EV charging hardware more reliable, affordable and suitable for Indian use. The funding will help it scale manufacturing, improve R&D, expand testing and build newer charging products.
As India’s EV market grows, companies like Leanwatts can play a quiet but important role behind the scenes.
Facts Input- FinSMEs
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