Zenergize Bags $4 Mn To Scale Production Of Its EV Chargers

Clean tech startup Zenergize, which manufactures chargers for electric vehicles (EVs), has raised $4 Mn (nearly ₹38 Cr) in its Pre-Series A funding round led by Giraffe Studios. 

The round also saw participation from Triveni Turbine’s Nikhil Sawhney, Varun Agarwal of Ellenbarrie, Bagrry’s Holdings’ Shyam Bagri and Raoul Bajaj of Trafigura. 

The fundraise also saw participation from Sunil Kalra, former Delhivery COO Ajith Pai, ex-Delhivery CBO Sandeep Barasia, Neo Group managing director Nitin Jain, New Bank CEO Hemant Daga, alongside other angel investors and existing backers.

Speaking with Inc42, Zenergize cofounder and chief executive Navneet Daga said that the startup plans to use the fresh capital to enhance its production capacity, scale research and development (R&D) and expand its sales and servicing team in India.

“We have already started working on hybrid inverters, which we believe would be a product that the market will gravitate towards in the next 12 months,” Daga said.

Founded in March 2025 by IIT Bombay alumni Daga and Veer Karan Goyal, Zenergize manufactures AC (alternating current) and DC (direct current) chargers and solar inverters at its manufacturing facility in Himachal Pradesh’s Parwanoo.

Daga told Inc42 Zenergize currently produces close to 2,000 inverters and around 30 to 40 chargers a month at its existing production unit. It also plans to set up another facility in Delhi NCR soon. 

“Over the next couple of months, we plan to double the capacity of our facility in Parwanoo. We are also setting up another facility in and around Delhi NCR, which will add capacity for around 5,000 more inverters. Together, the two facilities will take our production capacity to around 8,000 to 10,000 inverters a month and approximately 70 to 100 DC chargers a month, apart from AC chargers, which will also be fulfilled from these facilities,” added Daga. 

The startup claims that its products are designed and manufactured in India, including printed circuit boards (PCBs) and the core power converter module (PCM) that converts AC power into DC. The only major component that it sources from overseas is semiconductors.

On the financial front, the startup claims to be clocking an annual run rate (ARR) in the range of ₹35 Cr to ₹40 Cr. It plans to scale the number to ₹80 Cr to ₹90 Cr by the 2026-end.

This is the second fundraise by the startup in the past year. Prior to this round, Zenergize secured $2 Mn in a seed round in May last year to ramp up hiring and scale R&D and production.

Zenergize’s expansion comes amid the rapid build-out of India’s charging ecosystem. As of December 2025, the country was home to 29,151 EV charging stations, including 8,805 fast-charging stations. To fuel the local public charging infrastructure, the Centre has also allocated ₹2,000 Cr under the PM E-DRIVE scheme.

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