Leanwatts Bags $2 Mn To Build Portable EV Chargers In India

Clean tech startup Leanwatts has secured $2 Mn (around ₹18 Cr) in seed funding to develop portable EV chargers in India. The round was led by Trivest Partners and included investments from angel investors Abraham George and Alok Rungta. The funds will be used to enhance research and development, improve the supply chain, and expand manufacturing capabilities.

Leanwatts, founded in 2023 by Abhilash Reddy, Pradeep Chowdary, and Sujith Kumar, specializes in power electronics for electric vehicle original equipment manufacturers (OEMs). Its product line comprises portable and onboard chargers ranging from 500W to 6.6kW, designed for electric two-wheelers, three-wheelers, and tractors. The company has developed in-house expertise in hardware design, embedded firmware, software, product engineering, and testing.

In addition to its manufacturing facility in Hyderabad, Leanwatts aims to broaden its horizons by venturing into public charging solutions, rectifiers, power modules, hybrid inverters, and other power conversion applications. The startup targets a revenue run-rate of around ₹60 Cr by March 2027. The funding comes as India's charging infrastructure expands rapidly, with 29,151 EV charging stations operational as of December 2025, including 8,805 fast-charging stations.

The government's PM E-DRIVE scheme has bolstered this growth through various incentives. Recent funding rounds include Zenergize's $4 Mn Pre-Series A round and Statiq's $18 Mn, both led by prominent investors. IPEC also raised $3 Mn in February through Gruhas.