Bengaluru-based electric vehicle charging startup IPEC has raised $3 million in fresh funding from Gruhas, a venture co-founded by Nikhil Kamath and Abhijeet Pai. The company plans to use this investment to scale its manufacturing operations and accelerate its growth in the electric mobility space.
Founded in 2017, IPEC designs and manufactures a wide range of EV charging products, including portable chargers, private and public charging units, EV connectors, and vehicle charging inlets. With this funding, IPEC is preparing to increase its manufacturing capacity to 50,000 units per month. The startup has already delivered over one million EV charging products to top Indian electric vehicle (EV) manufacturers, and it aims to scale its production and presence further.
IPEC Funding For EV Charging Product Line
IPEC’s products follow both Indian and international standards, complying with government policies such as the PM E-Drive initiative and the Production-Linked Incentive (PLI) Scheme. In addition to hardware, IPEC also offers a Cloud-Based Charging Management System and a mobile app for real-time monitoring and control. This makes its solutions suitable for both end-users and large OEMs. IPEC’s clients include leading EV companies such as Ather Energy, Bajaj Auto, and Ampere by Greaves.
Zohra Khan, CEO of IPEC, said that the company is committed to reducing India’s dependency on imported power electronic components by manufacturing them domestically. She emphasized that IPEC’s mission aligns with the Make in India initiative, and the new investment will help them contribute more effectively to India’s growing electric vehicle ecosystem. Khan added that IPEC has seen 40 percent revenue growth in FY25 and expects to double its earnings in FY26.
Prepares to Expand into Global Markets
The investment from Gruhas will also enable IPEC to explore opportunities beyond India. The company plans to enter international markets and grow its presence globally. Co-founder of Gruhas, Abhijeet Pai, praised IPEC for being a driving force in India’s EV charging space. He noted that IPEC’s strength lies in its ability to deliver reliable and high-quality chargers, particularly for two-wheelers, and that it has the potential to grow into other vehicle segments as well.
With the latest funding and a strong vision, IPEC is on track to become a major player in the global EV charging sector while supporting India’s clean energy goals.
