Zenergize Raises USD 4 Million to Expand Power Electronics Manufacturing in India

Zenergize Technologies, an R&D-driven deep-tech company developing indigenous Silicon Carbide (SiC)-based power electronics, has raised USD 4 million in a Pre-Series A round, following strong commercial traction that has seen the company reach an annual revenue run rate of INR 30 crore and build an order book exceeding INR 150 crore within a year of commercialisation. The round, comprising equity and venture debt, was led by Giraffe Studios with participation from prominent industrial entrepreneurs.

The fundraise follows a hectic year of rapid product iteration followed by commercialisation for Zenergize and will support the company's next phase of growth as it expands manufacturing capacity, expands its sales and service network across India. The capital will also help deepen the company's capabilities as it builds globally competitive power electronics products designed and manufactured in India.

The round was led by Giraffe Studios, which increased its existing investment in Zenergize, reflecting continued conviction in the company’s technology, execution and vision for building advanced power electronics in India. The round brought together a distinguished group of strategic and accomplished investors, including Nikhil Sawhney of Triveni Turbine; Varun Agarwal of Ellenbarrie Industrial Gases; Shyam Bagri of Bagrry’s Holdings; Raoul Bajaj of Trafigura; prominent angel investor Sunil Kalra; Ajith Pai, former COO of Delhivery; Sandeep Barasia, former CBO of Delhivery; Nitin Jain, Managing Director of Neo Group; and Hemant Daga, CEO of Neo Bank, alongside other angel investors and continued participation from existing investors.

The investor group brings decades of experience across industrial manufacturing, engineering, supply chains, financial services and the power sector. Beyond capital, these investors will support Zenergize in scaling manufacturing operations, strengthening supplier partnerships and building long-term relationships across India's renewable energy and electric mobility ecosystem.

Zenergize has built India’s first indigenous SiC-based DC fast charger and solar inverter platforms, bringing advanced power electronics technology to commercial deployment in India. With automotive certifications for its chargers and BIS certification for its solar inverters, Zenergize is now scaling manufacturing and expanding its technology platform into hybrid and BESS inverters.

The fresh capital will primarily be deployed towards expanding manufacturing capacity, strengthening engineering, growing its nationwide service network and sales footprint, accelerating research and development, and building the operational capabilities required to serve large enterprise and OEM customers. Zenergize expects the investment to support its ambition of scaling to an annual revenue run rate exceeding INR 100 crore over the next phase of growth. 

Himanshu Aggarwal, Co-founder, Giraffe Studios, said, “Giraffe Studios is focused on Driving Deep Tech innovation in India. We back and support teams building core technology, capture a substantial part of the value chain and address large market gaps. Zenergize fits right in. We believe this round will establish Zenergize as not only India’s first high voltage power electronics company and a formidable player in India.”

Navneet Daga, Co-Founder and CEO, Zenergize Technologies, said, "The past year has demonstrated that world-class power electronics can be designed, manufactured and commercially viable in India. Our next phase is about building the manufacturing scale, engineering capability and customer partnerships required to make Indian technology globally competitive."

Dr. Veer Karan Goyal, Co-Founder and CTO, Zenergize Technologies, said, "India's energy transition requires power electronics designed for Indians – its grid conditions, climate and operating environments—not products adapted from other markets. Zenergize has innovated to use cutting edge Silicon Carbide technology to not only build products for Indian conditions, but also be more efficient and price competitive. Our experience is accelerating our product pipeline with Hybrid Inverters, Battery Energy Storage Systems (BESS) and other next-generation power electronics platforms coming soon."