Zenergize Raises $4M for EV Chargers & Renewables

Indian clean-tech innovator Zenergize has successfully closed a $4 million funding round, a Pre-Series A injection that will fuel its expansion in the critical power electronics manufacturing sector. The investment, a blend of equity and venture debt, was spearheaded by Giraffe Studios, signaling robust investor confidence in Zenergize's advanced Silicon Carbide (SiC) technology for electric vehicle (EV) charging and renewable energy systems.

The infusion of capital comes at a pivotal moment for Zenergize, a company founded by IIT Bombay alumni Navneet Daga and Veer Karan Goyal in early 2025. Their focus on high-efficiency SiC-based power electronics addresses a growing demand for more capable and sustainable energy infrastructure. Zenergize is already producing AC and DC EV chargers with capacities up to 240 kW, alongside developing solar and hybrid inverters, positioning itself as a key domestic player in a market increasingly reliant on localized manufacturing.

This significant funding round attracted a distinguished group of industry leaders and seasoned investors. Beyond the lead investor, the round saw participation from prominent figures such as Nikhil Sawhney of Triveni Turbine Limited, Varun Agarwal of Ellenbarrie Industrial Gases, Shyam Bagri of Bagrry’s Holdings, and Raoul Bajaj of Trafigura. The caliber of these investors, alongside contributions from angel investors and former executives like Ajith Pai (ex-Delhivery COO), Sandeep Barasia (ex-Delhivery CBO), Nitin Jain (Neo Group managing director), and Hemant Daga (Neobank CEO), underscores the market's strong belief in Zenergize's technological prowess and commercial strategy.

Despite its recent inception, Zenergize has demonstrated remarkable commercial momentum. The company operates manufacturing facilities in Parwanoo, Himachal Pradesh, with a current output of approximately 2,000 solar inverters and 30-40 EV chargers monthly. Crucially, Zenergize has already secured an order book exceeding ₹150 crore and is projecting an annual revenue run rate of ₹80-90 crore by the close of 2026, a substantial leap from its current ₹35-40 crore run rate. This rapid scaling is supported by plans to double its Parwanoo facility's capacity and establish a new manufacturing hub in the Delhi NCR region.

The strategic deployment of the $4 million will target critical growth areas. Zenergize intends to significantly boost its production capabilities, accelerate its research and development initiatives, particularly in hybrid inverter technology as highlighted by CEO Navneet Daga, and expand its sales and service network across India. This expansion is vital as India aims to bolster its domestic manufacturing in the clean energy and electric mobility sectors, a trend supported by government initiatives and increasing consumer adoption.

Zenergize's commitment to utilizing Silicon Carbide technology offers a distinct advantage. SiC semiconductors provide superior thermal performance, higher efficiency, and greater power density compared to traditional silicon-based components, leading to more robust and efficient charging and power conversion solutions. While semiconductors are sourced internationally, the company emphasizes its domestic manufacturing of critical components like printed circuit boards and power converter modules, reinforcing India's self-reliance in advanced manufacturing. This latest funding round follows a $2 million seed investment in May 2025, showcasing a consistent trajectory of investor support for Zenergize's ambitious growth plans in the dynamic green energy and mobility markets.