IIT Madras-incubated startup signs ₹100-crore deal with T.N. govt. to scale up EV charger manufacturing
Plugzmart, a startup incubated at the Indian Institute of Technology Madras, has entered into a ₹100 crore agreement with the Tamil Nadu government to expand its manufacturing and R&D operations in the electric vehicle charging sector. The Memorandum of Understanding (MoU) was signed at the Vettri Tamil Nadu Investment Conclave 2026, attended by Chief Minister C. Joseph Vijay.
This strategic partnership is expected to create 500 jobs over the next three years in fields such as hardware engineering, power electronics, embedded software, and advanced manufacturing. The funding will significantly bolster production capabilities at a facility in the industrial area of Oragadam. Plugzmart's mission is to deliver scalable and dependable EV charging solutions for original equipment manufacturers, fleet operators, charge-point operators, and public infrastructure projects.
The company specializes in designing, developing, and manufacturing comprehensive charging hardware, including indigenous controller units, power line communication modules, and charging units ranging from 3.3kW to 360 kW. Co-founders Vivek Samynathan and Ragavendra Ravichandran participated in the signing ceremony.
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