Hyderabad power electronics startup Leanwatts raises 2 million usd in seed funding

Hyderabad-based power electronics startup Leanwatts has raised approximately $2 million in seed funding across two tranches, led by Trivest Partners. The company develops EV charging and power electronics products, including portable and onboard chargers for multiple electric vehicle segments.

Hyderabad: Hyderabad-based power electronics startup Leanwatts has raised approximately $2 million (Rs 18.15 crore) in seed funding across two tranches, led by Trivest Partners, with participation from angel investors Abraham George and Alok Rungta.

Founded in October 2023, Leanwatt is led by Pradeep Chowdary and Abhilash Reddy, alumni of BITS Pilani, and Sujith Kumar, an alumnus of NIT Surathkal and IIM Udaipur. “The new capital will allow us to build the capabilities required to reliably scale India-engineered power electronics,” said Abhilash Reddy.

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From its manufacturing facility in Hyderabad, Leanwatts develops and manufactures power electronics products with in-house capabilities across hardware design, embedded firmware and software, product engineering, validation, testing and quality.

The company, founded in October 2023, started with EV charging and now offers high-efficiency, high-power-density portable and onboard chargers ranging from 500W to 6.6kW, serving electric two-wheelers, L2 and L5 vehicles and e-tractors.

“India’s EV and energy transition creates an opportunity to build globally competitive power electronics companies from here,” said Sujith Kumar. “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,” said Pradeep Chowdary.