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Zenergize Technologies, an R&D-driven deep-tech company developing indigenous Silicon Carbide (SiC)-based power electronics, has raised $4 million (around ₹35 crore) in a Pre-Series A funding round. The round, comprising equity and venture debt, was led by Giraffe Studios, with participation from several prominent industrial entrepreneurs. The fundraise comes after the company achieved an annual revenue run rate of ₹30 crore and built an order book exceeding ₹150 crore within a year of commercialisation.
According to the company, the fresh capital will be used to expand manufacturing capacity, strengthen its sales and service network across India and develop globally competitive power electronics products. The company will also strengthen its engineering and R&D capabilities and build operational capacity to serve large enterprise and OEM customers.
The funding round was led by Giraffe Studios, which also increased its existing investment in Zenergize. The investor group includes Nikhil Sawhney of Triveni Turbine, Varun Agarwal of Ellenbarrie Industrial Gases, Shyam Bagri of Bagrry’s Holdings, Raoul Bajaj of Trafigura, angel investor Sunil Kalra, former Delhivery COO Ajith Pai, former Delhivery CBO Sandeep Barasia, Neo Group Managing Director Nitin Jain and New Bank CEO Hemant Daga, along with other investors.
The investors bring experience across industrial manufacturing, engineering, supply chains, financial services and the power sector. Beyond capital, they are expected to support Zenergize in scaling manufacturing operations, strengthening supplier partnerships and building long-term relationships across India’s renewable energy and electric mobility ecosystem.
Zenergize has developed India’s first indigenous SiC-based DC fast charger and solar inverter platforms, which are now being commercially deployed. The company’s chargers have received automotive certification, while its solar inverters have received BIS certification. It is now expanding its technology portfolio into hybrid inverters and Battery Energy Storage Systems (BESS) inverters.
The fresh capital will primarily be deployed towards increasing manufacturing capacity, strengthening the engineering team, expanding the company’s nationwide service network and sales footprint, and accelerating R&D. Zenergize aims to achieve an annual revenue run rate of more than ₹100 crore during its next phase of growth.
Himanshu Aggarwal, Co-founder, Giraffe Studios, said, “Giraffe Studios is focused on driving deep-tech innovation in India. We back and support teams building core technology, capturing a substantial part of the value chain and addressing large market gaps. Zenergize fits right in. We believe this round will establish Zenergize as not only India’s first high-voltage power electronics company but also a formidable player in India.”
Navneet Daga, Co-founder & CEO, Zenergize Technologies, said, “The past year has demonstrated that world-class power electronics can be designed, manufactured and commercially viable in India. Our next phase is about building the manufacturing scale, engineering capability and customer partnerships required to make Indian technology globally competitive.”
Dr Veer Karan Goyal, Co-founder & CTO, Zenergize Technologies, said, “India’s energy transition requires power electronics designed for Indian conditions — its grid conditions, climate and operating environments not products adapted from other markets. Zenergize has innovated to use cutting-edge Silicon Carbide technology to not only build products for Indian conditions, but also make them more efficient and price competitive.”
He added that the company experience is accelerating its product pipeline, with hybrid inverters, Battery Energy Storage Systems (BESS) and other next-generation power electronics platforms expected to be introduced in the coming period.
As the global power electronics industry undergoes a significant transition towards Silicon Carbide and next-generation semiconductor technologies, Zenergize aims to position India as a creator rather than just a consumer of advanced power electronics.
By combining indigenous intellectual property with world-class manufacturing, the company is working to build globally competitive products that are designed, engineered and manufactured in India. The company’s focus on SiC-based technology is also expected to support its expansion across renewable energy, EV charging and energy storage applications.
