Zenergize Technologies Secures $4 Million in Funding
Gurugram-based deep-tech firm Zenergize Technologies has successfully secured $4 million in a Pre-Series A funding round. This round was led by Giraffe Studios and saw contributions from various industrial entrepreneurs along with existing investors. The financing consists of both equity and venture debt.
The newly acquired funds will be allocated towards enhancing manufacturing capabilities, bolstering engineering and R&D efforts, establishing a sales and service network, and advancing product development. Zenergize is also focused on the creation of hybrid inverters and battery energy storage systems (BESS).
Innovative Product Development at Zenergize
Founded by Navneet Daga and Veer Karan Goyal, Zenergize is at the forefront of developing Silicon Carbide (SiC)-based power electronics aimed at electric mobility and renewable energy. Its product range includes solar inverters and AC and DC EV chargers, with the latter able to support capacities of up to 240 kW.
Financial Growth and Achievements
Zenergize has announced that it has reached an annual revenue run rate of Rs 30 crore and boasts an order book that exceeds Rs 150 crore within just one year of commercial operations. Its EV chargers have received automotive certifications, while the solar inverters have achieved BIS certification.
Investor Contributions
The investment group is comprised of notable names including Nikhil Sawhney, Varun Agarwal, Shyam Bagri, Raoul Bajaj, Sunil Kalra, Ajith Pai, Sandeep Barasia, Nitin Jain, and Hemant Daga, among others. Zenergize has set a target to escalate its annual revenue run rate to over Rs 100 crore within the forthcoming nine months.