Power Electronics Startup Leanwatts Secures Funding for Growth
Power electronics startup Leanwatts has successfully raised around $2 million (Rs 18.15 crore) in a seed funding round, conducted in two phases. This funding round was led by Trivest Partners, with participation from angel investors Abraham George and Alok Rungta.
The company has announced that it will allocate these funds towards enhancing its supply chain, increasing localisation efforts, expanding its manufacturing capabilities, and scaling its range of power electronics products.
About Leanwatts
Founded in October 2023 by Pradeep Chowdary, Sujith Kumar, and Abhilash Reddy, Leanwatts is based in Hyderabad and focuses on developing and manufacturing power electronics products. The company boasts in-house capabilities encompassing hardware design, embedded firmware and software, product engineering, validation, testing, and quality control.
Product Offerings
Initially, Leanwatts concentrated on electric vehicle (EV) charging solutions. The company now provides an array of portable and onboard chargers, with power outputs ranging from 500W to 6.6kW, catering to electric two-wheelers, L2 and L5 vehicles, and e-tractors. Furthermore, Leanwatts has plans to diversify into public charging solutions, rectifiers, power modules, hybrid inverters, and various other power conversion applications.
Research and Development Initiatives
The startup is also collaborating with engineering institutions to implement industry-oriented research and development programmes. The goal is to achieve an annualised revenue run-rate of approximately Rs 60 crore ($6.25 million) by March 2027, primarily driven by the expansion of its current EV initiatives and new applications.
Industry Competitors
Leanwatts positions itself against competitors such as Neenjas Electric, Dynolt, and IPEC. In recent years, the power electronics segment in India has drawn significant funding, with various startups focusing on product development within EV charging, power conversion, inverters, and related sectors. Notably, Zenergize Technologies recently secured $4 million in a pre-Series A round, while Enerzolve Smart Technologies raised $5.1 million. Additionally, Dynolt Technologies raised $1.7 million in 2025.