Hyderabad: Deeptech startup Leanwatts has raised around $2 million (a little over ₹18 crore) in seed funding across two tranches to deepen research and development and scale its indigenous platforms.The round was led by Trivest Partners, with participation from angel investors Abraham George and Alok Rungta. The investor group includes investment professionals and alumni of IIT Kanpur and IIM Ahmedabad, the Hyderabad-based power electronics startup said.Founded in October 2023, Leanwatts is led by BITS Pilani alumni Pradeep Chowdary and Abhilash Reddy, and Sujith Kumar, an alumnus of NIT Surathkal and IIM Udaipur.The company manufactures from Hyderabad and has in-house capabilities in hardware design, embedded firmware and software, product engineering, validation, testing and quality.Leanwatts began with EV charging products and now offers portable and onboard chargers ranging from 500W to 6.6kW for electric two-wheelers, L2 and L5 vehicles and e-tractors. It is expanding into public charging solutions, rectifiers, power modules, hybrid inverters and wider power conversion applications.Leanwatts co-founder Sujith Kumar said India’s EV and energy transition offers scope to build globally competitive power electronics companies.The company said the funding will support laboratories, engineering talent, localisation, supply-chain expansion and manufacturing capacity. Leanwatts is targeting an annualised revenue run-rate of ₹60 crore by March 2027.
