EV charging startup IPEC bags $3 Mn from Gruhas

Entrackr · 27d

EV charging startup IPEC has secured an investment of $3 million from Nikhil Kamath and Abhijeet Pai’s Gruhas. The proceeds will be used to strengthen its aim to consolidate its leadership status in the EV charging sector and accelerate growth in the broader power electronics domain, IPEC said in a press release. IPEC was founded in 2017 by the MEHER Group, together with DEKI Electronics & Sungho Electronics, with Zohra Khan as its CEO. The platform offers a range of EV charging products that include private, portable, and public chargers as well as EV Connectors and Vehicle Charging Inlets. These products are fully compliant with various national and international standards and the latest localisation regulations, including the PM E-Drive and PLI Scheme. Beyond hardware, IPEC also offers Cloud-based Charging Management Systems (CMS) and a user-friendly mobile app for real-time control and insights. IPEC is an approved supplier to leading EV OEMs like Ather Energy, Bajaj Auto, Greaves (Ampere), and more. The Bengaluru-based company aspires to drive energy transition in e-mobility with intelligent, reliable, and cost-effective charging solutions at scale that address India’s specific needs and the rising demand for locally manufactured alternatives. IPEC claims to have witnessed a 40% growth in revenue in FY25 and anticipates doubling its revenue in FY26. The company also plans to expand its avenues and capabilities into global markets. It claims to have delivered over 1 million EV charging products to the top EV OEMs in India and is gearing up to expand its manufacturing capacities to 50,000 units per month.