Leanwatts raises $2 million seed round to scale portable EV charger production in India
By Eve
Indian cleantech startup Leanwatts has secured $2 million (approximately ₹18 crore) in seed funding led by Trivest Partners, with participation from angel investors Abraham George and Alok Rungta. Founded in 2023, the Hyderabad based firm manufactures portable and onboard chargers ranging from 500 W to 6.6 kW for electric two wheelers, three wheelers and tractors. The capital will fund research and development, supply chain strengthening and expanded manufacturing capacity, with plans to enter public charging solutions, rectifiers and power modules.
Why it matters: The investment signals growing investor confidence in localised EV charging hardware for India's light vehicle segments, potentially offering OEMs and fleet operators domestically engineered alternatives to imported components. Leanwatts' move into public charging infrastructure could create new procurement opportunities for charge point operators seeking India manufactured equipment.