Funding · Climate, Energy & Sustainability

Leanwatts raises $2 million seed round led by Trivest Partners

By Startup Enthusiast · 4 September 2026

Date: 4 September 2026
Company: Leanwatts
What it does: Power electronics and EV charger maker
Kind: Funding
Amount: $2 million
Stage: Seed
Based in: Hyderabad
Founded: October 2023
Sector: Climate, Energy & Sustainability

What they do

Leanwatts develops and manufactures power electronics products including portable and onboard chargers ranging from 500W to 6.6kW for electric vehicles

What happened

The company raised $2 million (approximately ₹18.15 crore) in seed funding across two tranches, led by Trivest Partners

Why it matters

The startup plans to expand its manufacturing capabilities, strengthen supply chain localisation, and target a ₹60 crore annualised revenue run-rate by…

The details

Power electronics startup Leanwatts has raised $2 million, approximately ₹18.15 crore, in a seed funding round.
The funding was raised across two tranches and was led by Trivest Partners.
Angel investors Abraham George and Alok Rungta also participated in the round.
The company operates a manufacturing facility in Hyderabad that handles in-house hardware design, embedded firmware and software, product engineering, validation, testing, and quality control.
Leanwatts will use the fresh capital to strengthen its supply chain, increase localisation, expand manufacturing capabilities, and scale its product portfolio.
The startup is targeting an annualised revenue run-rate of approximately ₹60 crore (or $6.25 million) by March 2027.

The bigger picture

The funding arrives as Leanwatts expands from electric vehicle charging into broader power electronics applications like public chargers, rectifiers, power modules, and hybrid inverters.
India's power electronics ecosystem is attracting increased investor interest due to growing adoption of electric vehicles and renewable energy systems.

About the business

Leanwatts designs and manufactures high-efficiency portable and onboard chargers ranging from 500W to 6.6kW.
Its products serve electric two-wheelers, L2 and L5 vehicles, and electric tractors.
The company offers product lines such as the Quark Series and Boson SIC Onboard Series, alongside rectifiers and power conversion solutions.
It provides end-to-end product development and customisation for original equipment manufacturers (OEMs).
Manufacturing operations utilise semi-automated equipment for printed circuit board assembly (PCBA).

What happens next

Scale existing electric vehicle programmes and enter new power electronics applications like public chargers, rectifiers, and hybrid inverters.
Achieve an annualised revenue run-rate of approximately ₹60 crore by March 2027.
Collaborate with engineering institutions on industry-oriented research and development programmes.

The deal

Type: Seed

Investors

Trivest Partners (lead) — Investment firm leading the seed round.
Abraham George (angel) — Angel investor participating in the round.
Alok Rungta (angel) — Angel investor participating in the round.

Founders

Pradeep Chowdary, Founder & Director
Abhilash Reddy D, Co-Founder & Managing Director
Sujith Kumar, Co-Founder & Director

About Leanwatts

Product: Portable and onboard EV chargers, power electronics products from 500W to 6.6kW
Customers: EV OEMs for two-wheelers, three-wheelers, four-wheelers and tractors
How it makes money: Manufacturing and sale of power electronics products to vehicle OEMs
What sets it apart: In-house capabilities in hardware design, firmware, software and validation

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