EV Charging Startup IPEC Bags $3 Million from Nikhil Kamath’s Gruhas — And It’s Just Getting Started
India’s booming EV space has just found another rising star — and it has the backing of one of the country’s most prominent investors. Nikhil Kamath, co-founder of Zerodha, along with Abhijeet Pai, has invested $3 million in Bengaluru-based EV charging startup IPEC through their investment platform, Gruhas.
As EV adoption accelerates across India, the demand for reliable and scalable charging infrastructure is exploding. And IPEC is positioning itself as a key player ready to meet that demand — with fresh funding, growing partnerships, and serious ambitions to scale.
Who Is IPEC and What Do They Do?
Founded in 2017, IPEC is not just another EV hardware company. They’re one of the few Indian startups offering a full-stack EV charging solution, from chargers and connectors to cloud-based control systems.
Their product line includes:
- Private EV chargers for home or personal use
- Portable chargers designed for on-the-go convenience
- Public charging units for large-scale infrastructure
- EV connectors and vehicle charging inlets
All of IPEC’s products are compliant with Indian and international safety and quality standards, including regulations under the PM E-Drive initiative and the PLI Scheme.
But they aren’t stopping at hardware. The startup also offers a Cloud-based Charging Management System (CMS) and a user-friendly mobile app that gives users real-time control, analytics, and insights into their EV charging experience.
Scaling Up: IPEC’s Big Manufacturing Push
With this new funding, IPEC plans to ramp up its production capacity significantly. The company is aiming to expand its manufacturing output to 50,000 units per month, a major step up from current levels.
Why does this matter? As India races toward electrifying its transportation sector, the need for mass-scale, locally manufactured EV chargers is more urgent than ever. IPEC is stepping into this gap with ready-made solutions that are already being used by some of the country’s top EV brands.
Trusted by the Biggest Names in the EV Game
IPEC isn’t just talking the talk — they’re already working with some of India’s top EV original equipment manufacturers (OEMs). The company claims to have delivered over 1 million charging products to leading players such as:
- Ather Energy
- Bajaj Auto
- Greaves Electric (Ampere)
- And several others
Being an approved supplier to these heavyweights speaks volumes about IPEC’s credibility, product reliability, and market demand.
Backed by Industry Giants: Who’s Behind IPEC?
IPEC isn’t a standalone startup — it’s a joint venture formed by three major electronics players:
- MEHER Group
- Deki Electronics
- Sungho Electronics
Together, these companies bring deep expertise in manufacturing, electronics design, and large-scale production — giving IPEC the technical foundation and industry support it needs to scale quickly and deliver high-quality solutions.
Why Did Gruhas Invest?
This isn’t Gruhas’s first bet on innovation, but it might be one of the most strategic. Nikhil Kamath and Abhijeet Pai are known for investing in high-potential startups shaping India’s future economy, and EV infrastructure is clearly high on that list.
The investment signals growing investor confidence in the EV infrastructure segment, which often lags behind vehicle innovation but is crucial to making electric mobility viable for the masses.
With the Indian government pushing hard on EV adoption, including subsidies and infrastructure support, IPEC is in the right place at the right time — and now with the right capital to fuel its growth.
What’s Next for IPEC?
With $3 million in new funding and a product line already proven in the market, IPEC’s next steps include:
- Expanding production facilities to meet growing demand
- Onboarding more OEM partners
- Enhancing software and analytics features for better customer experience
- Building out public charging infrastructure in urban and rural areas
As the EV race heats up, companies like IPEC will be critical to solving the last-mile challenge of EV adoption — ensuring users have easy access to fast, reliable, and affordable charging options.
Final Thoughts
In an industry flooded with EV hype, IPEC stands out as a startup solving real, foundational problems in charging infrastructure. With trusted partners, top-tier clients, and fresh funding from Gruhas, the company is primed for a massive leap forward.
This isn’t just another funding story — it’s a glimpse into the future of India’s EV revolution, powered by companies that are building the backbone of tomorrow’s clean transportation network.
Keep an eye on IPEC — it might just become one of the most important companies in India’s electric mobility story.
