Bengaluru-based EV charging solutions startup IPEC has raised $3 million in a strategic funding round led by Gruhas, the venture capital firm co-founded by Zerodha’s Nikhil Kamath and Abhijeet Pai.
This fresh capital will help IPEC expand its manufacturing capabilities, strengthen its presence in the power electronics sector, and accelerate international growth.
IPEC’s Vision for Scalable EV Charging Infrastructure
Founded in 2017 by the MEHER Group in collaboration with DEKI Electronics and Sungho Electronics, IPEC offers a comprehensive portfolio of EV charging products. These include private, portable, and public EV chargers, EV connectors, and vehicle charging inlets, catering to a broad spectrum of electric vehicle charging needs.
The company has already shipped over 1 million EV charging products to top Indian electric two-wheeler OEMs such as Ather Energy, Bajaj Auto, and Greaves Electric Mobility (Ampere). With the new funding, IPEC plans to ramp up its monthly production capacity to 50,000 units.
Strategic Support to Fuel Global Expansion
“With support from Gruhas, we aim to tap global markets and double our revenues in FY26 after witnessing 40% growth in FY25,” said Zohra Khan, CEO of IPEC.
Abhijeet Pai added, “IPEC is building high-quality, scalable EV charging infrastructure at a time when India’s EV adoption demands speed and reliability.”
Advanced EV Charging Software Ecosystem
Beyond hardware, IPEC also delivers a cloud-based Charging Management System (CMS) and a dedicated mobile application, offering real-time monitoring and control for EV users and charging operators.
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Gruhas’ Commitment to Sustainability and Innovation
Gruhas, which actively invests in proptech, sustainability, and consumer brands, has a growing portfolio of over 50 startups. Some of its notable investments include SolarSquare, Matel, ParkSmart, VRO Hospitality, and The Quorum Club.