IPEC Raises USD 3 Million Funding to Scale EV Charger Production and Expand Globally

Electric vehicle (EV) charging startup IPEC has secured USD 3 million in funding from Gruhas, the investment firm led by Nikhil Kamath and Abhijeet Pai.

The funding marks a major milestone for IPEC, enabling the company to scale its manufacturing operations to 50,000 units per month and expand its footprint across India and international markets.

Founded in 2017, IPEC specializes in a wide array of EV charging solutions, offering private, public, and portable chargers, along with connectors and inlets. These hardware offerings are supported by a cloud-based charging management system and mobile application that provides real-time analytics and control.

The company has established itself as a key supplier to leading original equipment manufacturers (OEMs) such as Ather Energy, Bajaj Auto, and Greaves, having already delivered over one million charging products. With a 40 percent revenue growth recorded in FY25, IPEC is targeting to double this growth in FY26, reinforcing its position in India’s growing EV ecosystem.

CEO Zohra Khan highlighted the startup’s commitment to reducing dependence on imports by designing and manufacturing power electronics in India. IPEC also aims to strengthen grid-connected EV infrastructure and promote battery-integrated charging systems.

This investment underscores rising momentum for domestic innovation in clean mobility, bringing IPEC closer to becoming a global leader in EV charging technology.