Zenergize Technologies, an R&D-driven deep-tech company developing indigenous Silicon Carbide (SiC)-based power electronics, has raised USD 4 million in a Pre-Series A funding round.
The company said the fundraise comes after a year of strong commercial traction, during which it reached an annual revenue run rate of Rs 30 crore and built an order book of more than Rs 150 crore within a year of commercialization.
The round, which comprises equity and venture debt, was led by Giraffe Studios, along with participation from a group of prominent industrial entrepreneurs.
Funding to Support Manufacturing and R&D Expansion
Zenergize plans to use the fresh capital to increase its manufacturing capacity, strengthen engineering and research and development, expand its sales and service network across India, and build the operational capabilities needed to serve large enterprise and OEM customers.
The company also aims to develop globally competitive power electronics products that are designed and manufactured in India.
Giraffe Studios increased its existing investment in Zenergize as part of the round. The investor group includes Nikhil Sawhney of Triveni Turbine Limited, Varun Agarwal of Ellenbarrie Industrial Gases, Shyam Bagri of Bagrry’s Holdings, Raoul Bajaj of Trafigura, angel investor Sunil Kalra, Ajith Pai, former COO of Delhivery, Sandeep Barasia, former CBO of Delhivery, Nitin Jain, Managing Director of Neo Group, and Hemant Daga, CEO of New Bank, along with other angel investors and existing backers.
The investors bring experience across industrial manufacturing, engineering, supply chains, financial services and the power sector. Zenergize expects their industry expertise to help the company scale manufacturing, strengthen supplier partnerships and build relationships across India’s renewable energy and electric mobility ecosystem.
Building Indigenous SiC-Based Power Electronics
Zenergize has developed what it describes as India’s first indigenous SiC-based DC fast charger and solar inverter platforms for commercial deployment.
Its chargers have received automotive certifications, while its solar inverters have received BIS certification. The company is now expanding its technology portfolio to include hybrid inverters and Battery Energy Storage Systems (BESS) inverters.
Zenergize said the new investment will help accelerate this product pipeline while increasing its ability to manufacture and deploy its existing products at scale.
The company is targeting an annual revenue run rate of more than Rs 100 crore in its next phase of growth.
Focus on Products Designed for Indian Conditions
Himanshu Aggarwal, Co-founder of Giraffe Studios, said the firm focuses on supporting deep-tech companies developing core technologies and addressing large market gaps. He said Zenergize fits this approach and that the investment could help establish the company as a major high-voltage power electronics player in India.
Navneet Daga, Co-founder and CEO of Zenergize Technologies, said the company’s experience over the past year has demonstrated that advanced power electronics can be designed, manufactured and commercially deployed in India. The next phase, he said, will focus on manufacturing scale, engineering capabilities and customer partnerships.
Dr. Veer Karan Goyal, Co-founder and CTO of Zenergize Technologies, said India’s energy transition requires power electronics designed around the country’s grid conditions, climate and operating environments.
According to the company, its use of Silicon Carbide technology allows it to develop products suited to Indian conditions while improving efficiency and price competitiveness. Zenergize is also working on hybrid inverters, BESS and other next-generation power electronics platforms.
Expanding India’s Power Electronics Capabilities
The global power electronics industry is increasingly moving towards Silicon Carbide and other next-generation semiconductor technologies. Against this backdrop, Zenergize aims to position India as a technology creator rather than only a consumer.
The company is building an integrated technology stack covering hardware, firmware, embedded software and digital control systems, with the goal of developing products that can compete in global markets.
Founded by IIT and IIM alumni, Zenergize currently offers solar inverters and AC and DC EV chargers, with chargers supporting capacities of up to 240 kW. Hybrid inverters and BESS products are under development.
The company also operates a pan-India service network to provide installation and after-sales support.
With the latest funding, Zenergize is looking to combine indigenous intellectual property, manufacturing capabilities and industry partnerships to scale its presence in India’s renewable energy and electric mobility markets.
-By Shivani Solanki
