Trivest Partners leads $2 Mn seed round in power electronics startup Leanwatts

• ByStartupStory     |    September 7, 2026

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

The company said in a press release that it will use the funds to strengthen its supply chain, increase localisation, expand manufacturing capabilities, and scale its power electronics products.

Founded in October 2023 by Pradeep Chowdary, Sujith Kumar, and Abhilash Reddy, Hyderabad-based 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 startup initially focused on EV charging and now offers portable and onboard chargers ranging from 500W to 6.6kW for electric two-wheelers, L2 and L5 vehicles, and e-tractors.

Leanwatts plans to expand into public charging solutions, rectifiers, power modules, hybrid inverters, and other power conversion applications.

The company is also working with engineering institutions on industry-oriented R&D programmes. It is targeting an annualised revenue run-rate of around Rs 60 crore ($6.25 million) by March 2027, driven by the expansion of its existing EV programmes and new applications.

Leanwatts competes with players such as Neenjas Electric, Dynolt, and IPEC.

The power electronics segment in India has attracted funding in recent years, with startups developing products across EV charging, power conversion, inverters, and related applications. Zenergize Technologies recently raised $4 million in a pre-Series A round, while Enerzolve Smart Technologies raised $5.1 million. Dynolt Technologies raised $1.7 million in 2025.

Follow Startup Story