IPEC has received funding of US$3 million from Nikhil Kamath. The funds will be allocated to exploring opportunities in international markets, expanding IPEC’s manufacturing capacity, and reinforcing its standing within the power electronics sector.
Funding for IPEC
IPEC (Intelligent Power Electronics Company) was founded in 2017 by the MEHER Group in partnership with DEKI Electronics and Sungho Electronics. Since its inception, the company has focused on creating solutions that support the development of India’s electric vehicle charging infrastructure.
Along with EV connectors and vehicle charging inlets, its product line also includes home, portable, and public EV chargers. A variety of needs from many areas of the electric car ecosystem are met by these goods.
Several well-known EV manufacturers in India, such as Ather Energy, Bajaj Auto, and Greaves Electric Mobility (Ampere), have purchased IPEC’s goods over the years. The company reports that it has already supplied over one million electric vehicle charging components to these original equipment manufacturers (OEMs) and others.
Plans to Increase Capacity
IPEC intends to greatly expand its manufacturing capacity with the new cash. In the near future, the company wants to boost output to 50,000 units each month. This IPEC provides hardware alternatives as well as a cloud-based charge management system (CMS). Through a mobile application, this technology enables operators and EV customers to keep an eye on and manage charging operations in real time. The coordinated strategy that combines
The goal of hardware with digital monitoring is to solve operational issues with EV charging.
Overview of Investors: Gruhas’s Wider Perspective
The primary investor in this round, Gruhas, is a venture capital firm that funds early and growthstage businesses in industries like consumer goods, sustainability, and real estate (proptech).
EV Infrastructure Requirements Keep Increasing
Growing legislative and financial support for EV-related enterprises is a result of India’s drive for cleaner transportation. Although the production of electric vehicles has received a lot of attention, the creation of dependable charging infrastructure is just as important.
In an effort to close this gap, startups such as IPEC are providing scalable and standardized solutions to satisfy the needs of a growing number of EV users. The demand for extensive and effective charging infrastructure is anticipated to increase quickly as more electric automobiles and two-wheelers are predicted to be on the road in the upcoming years.
The funding round indicates that investors are still interested in tackling these infrastructural issues, particularly in fields that demand both production scalability and technological dependability.
