EV charger manufacturer Zenergize raises USD 2 million in seed round

Zenergize, a company working in power electronics, has raised USD 2 million in a seed funding round led by Himanshu Aggarwal (Founder, Aspiring Minds) and Mohit Tandon (Co-founder, Delhivery).

Based in Gurugram, the company focuses on electronics for EVs, solar power, and other renewable energy applications. Its 15-member research and development team, led by graduates from the Indian Institutes of Technology (IITs), has spent over three years developing and testing AC (Alternating Current) and DC (Direct Current) fast chargers and solar inverters. These products are currently being manufactured at Zenergize’s facility in Parwanoo, Himachal Pradesh.

All components used in the chargers and inverters—including rectifiers, PLC communication controllers, insulation monitoring devices, OCPP controllers, and charger controllers—are designed, programmed, and manufactured in India.

“The hot, humid weather conditions and varying stages of grid development in India as well as Global South require custom-designed- engineered EV and renewable energy solutions. With favourable govt initiatives – Zenergize is primed to take the lead, in building EV chargers, solar inverters and motor controllers for India and rest of the world. The team has demonstrated superior execution in technology development and these funds will help them scale quickly,” said Himanshu Aggarwal, founder Aspiring Minds.

“We are thrilled to welcome value-adding investors to Zenergize. We have an aggressive product roadmap & continue to invest in power electronics research & technology. This infusion of capital and insight from experienced partners will catalyse our vision of transforming India’s deep-tech scenario in Power Electronics”, said Dr Veer Karan Goyal, CTO and Co-founder of Zenergize.

“Our cutting-edge technology combined with robust service and support network will help us build the scale and capacity to expand nationally,” said Navneet Daga, CEO and Co-founder of Zenergize.

Zenergize currently has a team of 25 people. The company plans to use the funds to expand its workforce in research and development, sales, service, and production. It has also initiated the process of certifying its products to meet international standards in response to interest from overseas markets.

The Government of India has set a target for EVs to make up 30% of new private vehicle registrations by 2030, which would amount to approximately 80 million EVs. To support this, the government aims for 80% domestic manufacturing of EV chargers, with 60-70% localization of critical electronic components. Zenergize is aligning its operations with these targets.

Also read: EV charger manufacturer IPEC India raises USD 3 million from Gruhas