Leanwatts Raises $2 Mn Seed Funding for Portable EV Chargers
Clean tech startup Leanwatts, which manufactures EV chargers, has raised $2 Mn (around ₹18 Cr) in its seed funding round led by Trivest Partners, with participation from angel investors Abraham George and Alok Rungta.
Founded in 2023 by Abhilash Reddy, Pradeep Chowdary and Sujith Kumar, Leanwatts designs and manufactures power electronics products for EV OEMs. Its product portfolio includes portable and onboard chargers, ranging from 500W to 6.6kW, which cater to electric two-wheelers, three-wheelers and tractors.
It claims to have developed in-house capabilities across hardware design, embedded firmware and software, product engineering and testing. The startup also operates a manufacturing facility in Hyderabad.
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The fundraise comes amid the rapid build-out of India’s charging ecosystem. As of December 2025, the country was home to 29,151 EV charging stations, including 8,805 fast-charging stations.
The company plans to utilise the fresh capital to accelerate research and development (R&D), strengthen its supply chain and ramp up manufacturing capabilities.
Its roadmap extends beyond onboard chargers into public charging solutions, rectifiers, power modules, hybrid inverters, and other power conversion applications. It is targeting an annualised revenue run-rate (ARR) of nearly ₹60 Cr by March 2027.
“As we scale, our focus is on strengthening our supply chain, increasing localisation and continuing to invest in manufacturing capability. The new capital will allow us to accelerate this journey and build the capabilities required to reliably scale India-engineered power electronics,” said Leanwatts cofounder Abhilash Reddy.
Chowdary added: “… At Leanwatts, we are investing in our laboratories, engineers and ability to industrialise efficient architectures, cost-effective designs, advanced materials and emerging technologies, with the objective of building technological capability that compounds over the long term,”
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