Nikhil Kamath and Abhijeet Pai’s Gruhas have invested $3 million in IPEC, an EV charging startup.
According to a press release from IPEC, the money will be utilized to further its goal of solidifying its position as a leader in the EV charging industry and boosting expansion in the larger power electronics field.
With Zohra Khan serving as its CEO, IPEC was established in 2017 by the MEHER Group in collaboration with DEKI Electronics and Sungho Electronics. The platform provides a variety of EV charging products, such as vehicle charging outlets, EV connectors, and private, portable, and public chargers. These products are completely compliant with the most recent localization laws, such as the PM E-Drive and PLI Scheme, as well as a number of national and international standards.
Cloud-based Charging Management Systems (CMS) and an intuitive mobile app for real-time control and insights are additional services that IPEC provides in addition to hardware. Ather Energy, Bajaj Auto, Greaves (Ampere), and other top EV OEMs have approved IPEC as a supplier.
In order to meet India’s unique needs and the growing demand for locally produced alternatives, the Bengaluru-based company hopes to propel the energy transition in e-mobility with intelligent, dependable, and affordable charging solutions at scale.
According to IPEC, revenue increased by 40% in FY25, and the company expects to double its revenue in FY26. Additionally, the company intends to broaden its capabilities and opportunities in international markets. Furthermore, it asserts that it has supplied more than a million EV charging devices to leading EV manufacturers in India and is preparing to increase its production capacity to 50,000 units per month.
