The company plans to use its seed funding towards expanding manufacturing capacity, strengthening research and development (R&D) and product development, building advanced testing and validation infrastructure, and accelerating new power conversion platforms.
Founded in October 2023, Leanwatts is led by Pradeep Chowdary and Abhilash Reddy, alumni of BITS Pilani, and Sujith Kumar, an alumnus of NIT Surathkal and IIM Udaipur. The company develops and manufactures power electronics products, supported by in-house capabilities across hardware design, embedded firmware and software, product engineering, validation, testing and quality.
The company started with EV (electric vehicle) charging as its first commercial platform and at present, offers high-power-density portable and onboard chargers, serving applications across electric two-wheelers, L2 and L5 vehicles and e-tractors. It is currently working with multiple EV OEMs (original equipment manufacturers) and companies, including Ultraviolette, Baxy Mobility, Clean Electric, Ruchira Green and Moonrider.
The Hyderabad-based startup is also expanding its portfolio across public charging solutions, rectifiers, power modules, hybrid inverters and broader power conversion systems for the energy ecosystem.
Commenting on the fundraise, Sujith Kumar, co-founder of the firm, said “India’s energy transition is creating a once-in-a-generation opportunity to build globally competitive technology and manufacturing capabilities… Our ambition is to build an India-rooted, globally relevant company that combines indigenous R&D, engineering and manufacturing under one roof.”
Leanwatts is targeting an annualised revenue run-rate of approximately Rs 60 crore by March 2027, driven by the scale-up of existing EV programmes and expansion into new power electronics applications.
