Electronics Manufacturing Startup Bacancy Systems Raises ₹40 Cr

Electronic systems manufacturer Bacancy Systems has raised ₹40 Cr ($4.2 Mn) in its Series A funding round led by Sabre Partners and Greenstone Capital. The startup, which manufactures a portfolio of products for EV OEMs and charging infrastructure players, intends to utilise the fresh capital to expand its manufacturing infrastructure, enhance product capabilities, and deepen its research and development (R&D). 

Founded in 2021 by Binal Patel, Krunal Patel and Hardik Sheth, Bacancy Systems offers a range of embedded system services. 

It specialises in embedded hardware and software systems across categories like e-mobility solutions (EV charging infrastructure), healthcare (remote health monitoring device controllers) and railway focused smart grid solutions.

The Ahmedabad-based startup plans on penetrating deeper into the Indian railway electronics segment, to enhance operational efficiency and reliability in the modern rail systems.

It claimed to be developing a suite of train control and management system (TCMS) solutions, control systems for traction converters and auxiliary converters, TRDP-based embedded modules, PA/PIS Systems and remote monitoring platforms.

“This milestone (funding round) validates what we have believed from day one — that deep, purpose-built R&D in Electric mobility, Railways, is not just the future, but an urgent necessity, and local manufacturing of the same under the Make in India initiative is equally essential to empower India and build a reliable supply chain. With over two decades of industry experience, I am more confident than ever that the innovations we are building will define the next generation of India’s industrial backbone,” CEO Patel said.

In a statement, Bacancy claimed that it closed its maiden round of funding on the back of the market potential of electric mobility and railway modernisation, its target business. Important to note that the Centre has also been roping in companies and electronics manufacturers to modernise the operations of Indian Railways.

In this light, Railways minister Ashwini Vaishnaw announced the launch of a dedicated tech policy “Rail Tech portal”, where startups can propose solutions directly to the Railways and the ministry would offer up to 50% of the funding once the project is approved. 

Betting on the growing interest, startups and companies operating in the electronics manufacturing segment like Indigrid and Six Sense Mobility have recently been garnering investments to strengthen their production capabilities as well as R&D initiatives.

Additionally, finance minister Nirmala Sitharaman proposed to increase the outlay of the existing Electronics Component Manufacturing Scheme (ECMS) to ₹40,000 Cr during the budget speech in February. As of October last year, the Centre approved the first batch of seven projects under the ECMS and committed an investment of ₹5,500 Cr under the scheme.

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