Power Electronics Startup Leanwatts Raises $2 Million In Seed Funding

Hyderabad-based power electronics startup Leanwatts has raised approximately $2 million (₹18.15 crore) in seed funding across two tranches. The round was led by Trivest Partners, with participation from angel investors Abraham George and Alok Rungta. The company said the funding will be used to support R&D, strengthen its supply chain, increase localisation and expand manufacturing capabilities.

Founded in October 2023, Leanwatts is led by co-founders Pradeep Chowdary, Abhilash Reddy and Sujith Kumar. The company operates a manufacturing facility in Hyderabad, where it undertakes hardware design, embedded firmware and software development, product engineering, validation, testing and quality activities.

Leanwatts initially focused on EV charging and currently offers portable and onboard chargers with power ratings from 500W to 6.6kW. Its products are used across electric two-wheelers, L5 vehicles and e-tractors.

The company is expanding into public charging solutions, rectifiers, power modules, hybrid inverters and other power conversion applications for the energy sector. Leanwatts is also working with engineering institutions on industry-oriented R&D programmes.

Leanwatts is targeting an annualised revenue run-rate of approximately ₹60 crore ($6.25 million) by March 2027. The company expects this to be driven by the expansion of its existing EV programmes and entry into additional power electronics applications.

Sujith Kumar, Co-founder, Leanwatts said, “India’s EV and energy transition creates an opportunity to build globally competitive power electronics companies from here. But products for India have to be engineered around Indian realities — our grid conditions, operating environments and the diverse requirements of OEMs. We believe deep engineering and a customer-first approach have to go together.”

“For India to lead in power electronics, R&D cannot be treated as a one-time project or simply as a department — it has to be continuously nurtured as a culture. At Leanwatts, we are investing in our laboratories, engineers and ability to industrialise efficient architectures, cost-effective designs, advanced materials and emerging technologies, with the objective of building technological capability that compounds over the long term,” said Pradeep Chowdary, Co-founder, Leanwatts.

Abhilash Reddy, Co-founder, Leanwatts said, “As we scale, our focus is on strengthening our supply chain, increasing localisation and continuing to invest in manufacturing capability. The new capital will allow us to accelerate this journey and build the capabilities required to reliably scale India-engineered power electronics.”

Also read: Exicom launches new manufacturing facility for EV charging and power solutions in Hyderabad.