Clean tech startup Leanwatts has raised $2 million (around ₹18 crore) in a seed funding round led by Trivest Partners, the company announced. The round also included participation from angel investors Abraham George and Alok Rungta. Founded in 2023, Leanwatts designs and manufactures power electronics products for electric vehicle original equipment manufacturers (OEMs), focusing on portable and onboard chargers for electric two-wheelers, three-wheelers, and tractors.
Leanwatts plans to use the fresh capital to accelerate research and development, strengthen its supply chain, and ramp up manufacturing capabilities. Co-founder Abhilash Reddy said the funding will help the startup increase localisation and build capabilities to scale India-engineered power electronics reliably. The startup operates a manufacturing facility in Hyderabad and has developed in-house expertise in hardware design, embedded firmware, software, product engineering, and testing.
The startup’s product portfolio includes chargers ranging from 500W to 6.6kW, catering to various electric vehicle segments. Leanwatts aims to expand into new areas such as public charging solutions, rectifiers, power modules, hybrid inverters, and other power conversion applications. The company targets an annualised revenue run-rate of nearly ₹60 crore by scaling its manufacturing and supply chain operations.
Leanwatts was founded by Abhilash Reddy, Pradeep Chowdary, and Sujith Kumar in 2023. The startup’s focus on portable EV chargers aligns with India’s growing electric vehicle market and the increasing demand for efficient charging infrastructure, positioning it for growth in the clean tech sector.