Hyderabad-based power electronics company Leanwatts has raised approximately $2 million (₹18.15 crore) in seed funding across two tranches, led by Trivest Partners with participation from angel investors including Abraham George and Alok Rungta, to expand its manufacturing capacity and product development for electric mobility and energy applications.
Founded in October 2023 by Pradeep Chowdary, Abhilash Reddy and Sujith Kumar, Leanwatts designs and manufactures power electronics systems for electric mobility and energy applications. The company is working with multiple EV OEMs and ecosystem companies, including Ultraviolette, Baxy Mobility, Clean Electric, Ruchira Green and Moonrider. Its current EV portfolio spans portable and onboard chargers from 500W to 6.6kW, addressing electric two-wheelers, L2 and L5 vehicles, e-tractors and other emerging EV applications.
The company is building integrated engineering and manufacturing capabilities in Hyderabad across power electronics hardware, embedded firmware, software, product validation, testing, manufacturing and quality systems.
This approach enables Leanwatts to engineer and customise products around OEM requirements while designing systems for Indian operating conditions, including grid variation, high ambient temperatures, dust, humidity and demanding vehicle duty cycles.
Beyond portable and onboard EV chargers, the company's roadmap includes public charging solutions, rectifiers, power modules and power conversion platforms for broader energy applications.
The fresh capital will be deployed towards expanding manufacturing capacity, strengthening R&D and testing infrastructure, and accelerating development of new power electronics platforms.
Leanwatts is targeting an annualised revenue run-rate of approximately ₹60 crore ($6.25 million) by March 2027, driven by the scale-up of existing EV programmes and expansion into new power electronics applications. The company aims to build an India-engineered power electronics portfolio capable of serving both domestic OEMs and global mobility and energy markets.