Homegrown deep-tech company Zenergize Technologies has successfully raised nearly ₹33.5 crore in a pre-Series A funding round. According to reports from Business Standard, the fundraise comprised both equity and venture debt components, with Giraffe Studios leading the investment and increasing its existing stake in the company. The funding round attracted several strategic investors, including Nikhil Sawhney of Triveni Turbine Limited, Varun Agarwal of Ellenbarrie Industrial Gases, Shyam Bagri of Bagrry's Holdings, and Raoul Bajaj of Trafigura.
The funding round also welcomed several prominent angel investors, as reported by Business Standard. These include Sunil Kalra, Ajith Pai (former chief operating officer of Delhivery), Sandeep Barasia (former chief business officer of Delhivery), Nitin Jain (managing director of Neo Group), and Hemant Daga (chief executive officer of New Bank). With this latest fundraise, Zenergize has now raised ₹50.5 crore to date, building upon its earlier ₹17 crore seed funding round.
According to reports from Business Standard, the fresh capital will be primarily deployed towards expanding manufacturing capacity, strengthening engineering capabilities, growing the nationwide service network and sales footprint, accelerating research and development, and building operational capabilities to serve large enterprises and original equipment manufacturer (OEM) customers. The company expects the investment will support its ambition of scaling to an annual revenue run rate exceeding ₹100 crore over the next phase of growth. Zenergize has already achieved an annual revenue run rate of ₹30 crore and built an order book exceeding ₹150 crore within a year of commercialisation.
As reported by Business Standard, the company, founded by IIT and IIM alumni, has built the country's first indigenous SiC-based DC fast charger and solar inverter platforms. The company has secured automotive certifications for its chargers and BIS certification for its solar inverters, and is currently scaling manufacturing and expanding its technology platform. Commenting on the fundraise, Navneet Daga, co-founder and CEO of Zenergize, stated that the past year has demonstrated that world-class power electronics can be designed, manufactured and commercially viable in India, with the next phase focused on building manufacturing scale, engineering capability and customer partnerships required to make Indian technology globally competitive.
