Jungle Ventures Co-leads USD 5.1 Million Seed Round In Enerzolve Smart Technologies

Jungle Ventures announced it has co-led a USD 5 million seed funding round in Enerzolve Smart Technologies, a semiconductor-powered energy solutions company developing embedded and power-electronics systems for smart grids, renewable energy, and battery storage. The round was co-led with Kae Capital and marks Jungle Ventures' latest investment in India's emerging deep-tech hardware ecosystem.

The funding round also attracted participation from prominent angel investors, including Zetwerk co-founders Amrit Acharya and Srinath Ramakrrushnan, Livspace's Ramakant Sharma, Unacademy's Roman Saini and Gaurav Munjal, Urban Vault's Amal Mishra, and Panthera Peak's Nikhil Bhandarkar.

Rishab Malik, Managing Partner at Jungle Ventures, stated that India's power sector is undergoing a significant modernization cycle, creating opportunities for deep-tech companies capable of building proprietary intellectual property and delivering end-to-end solutions for utilities. He noted that Enerzolve stands out as a full-stack, IP-led hardware company re-designing foundational systems for India's energy infrastructure.

The investment aligns with Jungle Ventures' strategy of backing experienced, second-time founders and industry operators addressing high-impact, sector-defining challenges.

Abhay Adya, Founder and CEO of Enerzolve, described India as being at an inflection point in its energy journey. He emphasized that the partnership with Jungle Ventures provides access to capital, global networks, operational expertise, and a long-term partner aligned with the company's ambition to establish India as a global hub for intelligent power electronics.

Gaurav Chaturvedi, General Partner at Kae Capital, expressed confidence in Enerzolve's engineering capabilities and execution discipline, noting the team's experience in power, manufacturing, and infrastructure sectors.

Market Context

India's energy transition is being driven by regulatory reforms, mandated grid upgrades, and record renewable and storage deployment. Key initiatives include the rollout of 250 million smart meters, a ₹3.04 lakh crore grid-modernization program, privatization of Union Territory distribution companies, and an expanding tender pipeline for Battery Energy Storage Systems.

Product Portfolio

Enerzolve is developing full-stack, localized intellectual property across two main segments. In smart grid and embedded systems, the company is building advanced protection relays, smart meters, analyzers, and detectors on shared hardware and firmware platforms optimized for India's regulatory and cost environment. In energy storage and power electronics, Enerzolve is creating a comprehensive architecture covering batteries, battery management systems, power conversion systems, inverters, and energy management systems for utility-scale and commercial and industrial applications.

Leadership Team

The Enerzolve founding team is led by Abhay Adya and co-founder Anupam Kumar Bhatt, who collectively bring over 30 years of experience from organizations including Zetwerk, L&T, Adani, Sterling & Wilson, and Tata.

Use of Funds

The seed funding will enable Enerzolve to deepen core technology intellectual property across silicon, firmware, and power electronics; scale engineering and product teams focused on smart grid and storage solutions; establish pilot manufacturing and certification for key product lines; and strengthen go-to-market and business development efforts targeting utilities, private distribution companies, engineering procurement and construction firms, and storage developers.

Jungle Ventures, founded in 2012, is a venture capital firm backing high-caliber, second-time founders and experienced industry operators across India and Southeast Asia. Kae Capital is an early-stage venture capital firm supporting visionary founders building technology-led businesses across India.