Hyderabad-based power electronics startup Leanwatts has successfully raised ₹18.15 crore in seed funding led by Trivest Partners. According to reports from Business Standard, the funding was raised across two tranches and included participation from angel investors Abraham George and Alok Rungta. The company plans to utilize this funding to expand manufacturing capacity, strengthen research and development (R&D) and product development, build advanced testing and validation infrastructure, and accelerate new power conversion platforms.
Founded in October 2023, Leanwatts is led by Pradeep Chowdary and Abhilash Reddy, alumni of BITS Pilani, and Sujith Kumar, an alumnus of NIT Surathkal and IIM Udaipur. As reported by Business Standard, the company develops and manufactures power electronics products, supported by in-house capabilities across hardware design, embedded firmware and software, product engineering, validation, testing and quality. The startup started with EV (electric vehicle) charging as its first commercial platform and currently offers high-power-density portable and onboard chargers.
According to Business Standard, Leanwatts is currently working with multiple EV OEMs (original equipment manufacturers) and companies, including Ultraviolette, Baxy Mobility, Clean Electric, Ruchira Green and Moonrider. The company serves applications across electric two-wheelers, L2 and L5 vehicles and e-tractors. The Hyderabad-based startup is also expanding its portfolio across public charging solutions, rectifiers, power modules, hybrid inverters and broader power conversion systems for the energy ecosystem.
Commenting on the fundraise, Sujith Kumar, co-founder of the firm, stated that "India's energy transition is creating a once-in-a-generation opportunity to build globally competitive technology and manufacturing capabilities." As reported by Business Standard, the company's ambition is to build an India-rooted, globally relevant company that combines indigenous R&D, engineering and manufacturing under one roof. Leanwatts is targeting an annualised revenue run-rate of approximately ₹60 crore by March 2027, driven by the scale-up of existing EV programmes and expansion into new power electronics applications.
