Leanwatts Raises $2 Million for EV Charger Production

Indian electric vehicle charger manufacturer Leanwatts has raised $2 million in a seed funding round led by Trivest Partners. The startup plans to utilize the funds to accelerate its research and development, strengthen its supply chain, and ramp up manufacturing capabilities.

Founded in 2023, Leanwatts designs and manufactures power electronics products for EV OEMs. Its product range includes portable and onboard chargers for electric two-wheelers, three-wheelers, and tractors, with power outputs from 500W to 6.6kW. The company claims in-house expertise across hardware design, firmware, software, and product engineering.

Leanwatts operates a manufacturing facility in Hyderabad and aims for an annualized revenue run-rate of approximately ₹60 crore (around $7.2 million) by March 2027. The company also plans to expand into public charging solutions, rectifiers, and other power conversion applications.

The funding comes as India rapidly expands its EV charging infrastructure. As of December 2025, the country had over 29,000 EV charging stations. The sector has seen increased investor interest, with companies like Zenergize and Statiq also recently securing funding for their charger manufacturing operations.