Zenergize's Made-in-India charger bet: ₹100 Cr order book

Designs and manufactures silicon-carbide power electronics in India — AC and DC EV fast chargers, solar inverters and, in development, hybrid and battery-storage inverters — at its Parwanoo plant, with in-house PCBs, firmware and thermal systems plus remote monitoring.

That India will buy home-built power electronics: vertically integrated SiC chargers and inverters, designed for Indian heat and grid conditions, beat imported kits.

$2M seed (May 2025) from Delhivery co-founder Mohit Tandon and Aspiring Minds founder Himanshu Aggarwal; $4M Pre-Series A (September 2026) led by Giraffe Studios with industrial angels — about $6M total.

Navneet Daga, who spent two decades in logistics and enterprise technology at Delhivery and Accenture, and Dr. Veer Karan Goyal, whose gold-medal PhD in power electronics from IIT Bombay led to research on large-scale electrification, met in 2024. Their shared diagnosis: India was investing heavily in EV charging and clean energy, yet most of the hardware was imported or assembled from global kits and struggled with Indian temperatures, grid fluctuations and demanding operating conditions. They founded Zenergize in Gurugram in March 2025 to build what they call India's first vertically integrated silicon-carbide power electronics company.

After a $2M seed in May 2025 from Delhivery co-founder Mohit Tandon and Aspiring Minds founder Himanshu Aggarwal, Zenergize began making AC/DC fast chargers and solar inverters at its Parwanoo facility in Himachal Pradesh, with components from PCBs to OCPP and charger controllers designed and manufactured in India; only semiconductors are imported. By August 2026 it was producing about 2,000 inverters and 30–40 DC chargers a month and claimed an annual revenue run rate of ₹30–40 crore with an order book exceeding ₹100 crore within a year of commercializing its products. The $4M Pre-Series A, led by Giraffe Studios with angels including Triveni Turbine's Nikhil Sawhney and ex-Delhivery executives, funds doubling Parwanoo and a new Delhi NCR plant to reach 8,000–10,000 inverters a month, while hybrid and battery-storage inverters are in development.

India's charging build-out is measurable: 29,151 stations by December 2025, ₹2,000 crore allocated under PM E-DRIVE, and a 30% EV sales target by 2030.

Most power electronics in India are imported or assembled from kits that were not engineered for local heat, grid quality or service turnaround.

Vertical integration — in-house PCB, converter module, firmware and thermal design — cuts downtime and total cost of ownership versus waiting on overseas suppliers.

Company-reported traction is concrete: ₹30–40 Cr annual run rate and a ₹100 Cr+ order book within a year of commercialization.

Silicon-carbide expertise from IIT Bombay power-electronics research gives the founders a technical moat most assemblers lack.

Import the chip, own the system: making the converter, PCB and firmware in India while buying only semiconductors earned reliability, fast service and credibility.

As of September 2, 2026, Zenergize is based in Gurugram, manufactures at Parwanoo in Himachal Pradesh, and produces roughly 2,000 inverters and 30–40 DC fast chargers a month. The $4M Pre-Series A led by Giraffe Studios funds doubling that facility, a new Delhi NCR plant targeting 8,000–10,000 inverters and 70–100 DC chargers a month, a wider sales and service footprint, and next-generation products including hybrid and battery-storage inverters. The company reports a ₹30–40 crore annual run rate and an order book above ₹100 crore; profitability had not been disclosed.