EV Charging Startup IPEC Secures $3 Million Investment
EV charging is at the forefront with the startup IPEC, which has successfully acquired $3 million in funding from Gruhas, a venture founded by Nikhil Kamath and Abhijeet Pai. This funding aims to bolster IPEC’s position as a leader within the EV charging industry and to propel growth within the wider power electronics sector, according to a recent press announcement.
Founding and Offerings of IPEC
Established in 2017 by the MEHER Group alongside DEKI Electronics and Sungho Electronics, IPEC is helmed by CEO Zohra Khan. The company provides a variety of EV charging solutions, including private, portable, and public chargers, in addition to EV connectors and vehicle charging inlets. Each product adheres to local and international standards, as well as recent localisation regulations like the PM E-Drive and PLI Scheme.
Innovative Technology Solutions
In addition to hardware, IPEC enhances its offerings with cloud-based charging management systems (CMS) and an intuitive mobile application that offers real-time control and data insights. The company is a recognised supplier for prominent EV OEMs, such as Ather Energy, Bajaj Auto, Greaves (Ampere), and others.
IPEC’s Vision for E-Mobility
The Bengaluru-based enterprise strives to facilitate an energy transition in e-mobility by delivering intelligent, dependable, and cost-effective charging options at scale, specifically tailored to meet India’s unique demands and the increasing need for domestically produced alternatives.
Growth Trajectory and Future Plans
IPEC has reported a remarkable 40% increase in revenue during FY25 and anticipates that this will double in FY26. Furthermore, the company intends to broaden its scope and capabilities into international markets. IPEC also claims to have supplied over 1 million EV charging products to leading EV OEMs in India and is preparing to increase its manufacturing capacity to 50,000 units monthly.