EV Charging Startup IPEC Raises $3 Million from Nikhil Kamath's Gruhas to Scale Operations Founded in 2017, IPEC designs and manufactures a comprehensive suite of EV charging solutions, including private, portable, and public chargers, as well as EV connectors and vehicle charging inlets.
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Bengaluru-based electric vehicle charging startup IPEC has secured $3 million in fresh funding from Gruhas, the investment firm co-founded by Nikhil Kamath and Abhijeet Pai. The company announced the development in an official statement, adding that the capital will help accelerate its expansion in power electronics and strengthen its leadership in India's fast-evolving EV infrastructure sector.
Founded in 2017, IPEC designs and manufactures a comprehensive suite of EV charging solutions, including private, portable, and public chargers, as well as EV connectors and vehicle charging inlets. Its products are compliant with national and international standards, and align with localisation mandates under the PM E-Drive and PLI Scheme. Alongside hardware, IPEC offers a Cloud-based charging management system (CMS) and a mobile app to support real-time control and analytics.
With over a million charging products already delivered, IPEC is a key supplier to leading EV OEMs such as Ather Energy, Bajaj Auto, and Greaves (Ampere). The company is now scaling up its manufacturing capacity to 50,000 units per month.
The startup is a joint venture between MEHER Group, Deki Electronics, and Sungho Electronics. CEO Zohra Khan underlined the company's focus on localising production: "Traditionally, India's reliance on imports for power electronics has been high. At IPEC, we are changing that by designing and manufacturing power electronic products in India, for India and the world. This investment by Gruhas shall further propel our contributions to the 'Make In India' mission and enhance India's EV ecosystem."
According to Khan, IPEC recorded 40 per cent revenue growth in FY25 and expects to double that in FY26. The funding will also support international expansion. "The investment also enables IPEC to expand our avenues and capabilities to launch IPEC into global markets," she said.
Backing the company's trajectory, Gruhas co-founder Abhijeet Pai commented, "IPEC is fast emerging as a changemaker in India's EV charging ecosystem... By already serving four of India's top OEMs, they've set benchmarks in manufacturing chargers, especially for the two-wheeler segment."
