IPEC eyes market growth of its EV Charging Merchandise and Options enterprise with new funding and goals to diversify into wider energy electronics area
Bengaluru-based IPEC, a first-mover and innovator within the EV charging house, has secured an funding of $3 million from Nikhil Kamath and Abhijeet Pai’s Gruhas. This funding from Gruhas in IPEC’s journey strengthens IPEC’s mission to consolidate its management standing within the EV Charging sector and speed up its development within the broader energy electronics area. Having efficiently delivered over 1 million EV charging merchandise to the highest EV OEMs in India, IPEC is now gearing as much as develop its manufacturing capacities to 50,000 items per thirty days. IPEC gives a spread of EV charging merchandise that embrace personal, moveable, and public chargers in addition to EV Connectors and Automobile Charging Inlets. These merchandise are totally compliant with numerous nationwide and worldwide requirements and the newest localisation rules, together with the PM E-Drive and PLI Scheme. Past {hardware}, IPEC additionally gives Cloud-based Charging Administration Techniques (CMS) and a user-friendly cellular app for real-time management and insights. IPEC is an accredited provider to main EV OEMs like Ather Power, Bajaj Auto, Greaves (Ampere), and extra. Recognising the rising want for energy electronics within the EV Sector and within the vitality transition, IPEC was created in 2017 by the MEHER Group, along with DEKI Electronics & Sungho Electronics, with Zohra Khan as its CEO. On the core of vitality transition is Energy Electronics – the know-how that facilitates environment friendly energy conversion in EVs, charging infrastructure, renewable vitality, vitality storage programs and inexperienced hydrogen. IPEC is driving this vitality transition in e-mobility with clever, dependable and cost-effective charging options at scale that tackle India’s particular wants and the rising demand for domestically manufactured options. Amongst its strengths is IPEC’s extremely advanced design and manufacturing experience mixed with the flexibility to seamlessly combine subtle {hardware}, superior software program and AI.
Zohra Khan, CEO of IPEC, remarked, “Historically, India’s reliance on imports for energy electronics has been excessive. At IPEC, we’re altering that by designing and manufacturing energy digital merchandise in India – for India and the world. This funding by Gruhas shall additional propel our contributions to the ‘Make In India’ mission and improve India’s EV ecosystem. IPEC has witnessed a 40% development in income in FY25 and anticipates doubling its income in FY26.
This funding additionally permits IPEC to develop our avenues and capabilities to launch IPEC into world markets. We’re excited to have Gruhas as a part of the workforce and look ahead to a terrific journey forward.” Abhijeet Pai, Co-Founding father of Gruhas, provides, “IPEC is quick rising as a changemaker in India’s EV charging ecosystem. Because the nation accelerates towards an electrical future, dependable and scalable charging infrastructure constructed on high quality parts, sub-assemblies, and sensible chargers turns into mission-critical. Collectively, Zohra and IPEC have led the way in which on this house. By already serving 4 of India’s prime OEMs, they’ve set benchmarks in manufacturing chargers, particularly for the two-wheeler section. Their deep ecosystem understanding and technical capabilities place them to develop past two-wheelers, into broader purposes. At Gruhas, we’re dedicated to backing corporations that scale in tandem with OEMs — constructing the long-term way forward for the trade collectively.”
