EV charging infrastructure startup IPEC has secured $3 million in funding from Gruhas, the investment platform founded by Nikhil Kamath (of Zerodha fame) and Abhijeet Pai. The investment will support IPEC’s ambition to solidify its leadership in the EV charging space and fast-track its growth in the broader power electronics sector.
Founded in 2017 by the MEHER Group in collaboration with DEKI Electronics and Sungho Electronics, IPEC is led by CEO Zohra Khan. The Bengaluru-based company offers a comprehensive portfolio of EV charging solutions, including private, portable, and public chargers, EV connectors, and vehicle charging inlets. All products comply with national and international standards, as well as localization initiatives such as the PM E-Drive and PLI Scheme.
Going beyond hardware, IPEC provides a Cloud-based Charging Management System (CMS) and an intuitive mobile app, giving users real-time insights and control over their EV charging experience.
IPEC is an approved supplier for several major EV OEMs in India, including Ather Energy, Bajaj Auto, and Greaves Electric Mobility (Ampere). With a vision to lead the energy transition in India’s e-mobility ecosystem, IPEC focuses on delivering intelligent, reliable, and cost-effective charging solutions tailored to Indian conditions.
The company reported a 40% revenue growth in FY25 and is targeting a 100% revenue increase in FY26. It also claims to have delivered over 1 million EV charging products to top Indian OEMs and is scaling up its manufacturing capacity to 50,000 units per month. Additionally, IPEC has plans to expand its footprint globally, further tapping into the rising global demand for smart, localized EV charging infrastructure.
With the fresh capital from Gruhas, IPEC is poised to not only scale its product capabilities but also play a significant role in shaping India’s EV ecosystem and beyond.
