IPEC eyes market expansion of its EV Charging Products and Solutions business with new funding and aims to diversify into wider power electronics domain
Bengaluru-based IPEC, a first-mover and innovator in the EV charging space, has secured an investment of $3 million from Nikhil Kamath and Abhijeet Pai’s Gruhas. This investment from Gruhas in IPEC’s journey strengthens IPEC’s mission to consolidate its leadership status in the EV Charging sector and accelerate its growth in the broader power electronics domain. Having successfully delivered over 1 million EV charging products to the top EV OEMs in India, IPEC is now gearing up to expand its manufacturing capacities to 50,000 units per month. IPEC offers a range of EV charging products that include private, portable, and public chargers as well as EV Connectors and Vehicle Charging Inlets. These products are fully compliant with various national and international standards and the latest localisation regulations, including the PM E-Drive and PLI Scheme. Beyond hardware, IPEC also offers Cloud-based Charging Management Systems (CMS) and a user-friendly mobile app for real-time control and insights. IPEC is an approved supplier to leading EV OEMs like Ather Energy, Bajaj Auto, Greaves (Ampere), and more. Recognising the emerging need for power electronics in the EV Sector and in the energy transition, IPEC was created in 2017 by the MEHER Group, together with DEKI Electronics & Sungho Electronics, with Zohra Khan as its CEO. At the core of energy transition is Power Electronics – the technology that facilitates efficient power conversion in EVs, charging infrastructure, renewable energy, energy storage systems and green hydrogen. IPEC is driving this energy transition in e-mobility with intelligent, reliable and cost-effective charging solutions at scale that address India’s specific needs and the rising demand for locally manufactured alternatives. Among its strengths is IPEC’s highly evolved design and manufacturing expertise combined with the ability to seamlessly integrate sophisticated hardware, advanced software and AI.
Zohra Khan, CEO of IPEC, remarked, “Traditionally, India’s reliance on imports for power electronics has been high. At IPEC, we are changing that by designing and manufacturing power electronic products in India – for India and the world. This investment by Gruhas shall further propel our contributions to the ‘Make In India’ mission and enhance India’s EV ecosystem. IPEC has witnessed a 40% growth in revenue in FY25 and anticipates doubling its revenue in FY26.
This investment also enables IPEC to expand our avenues and capabilities to launch IPEC into global markets. We are excited to have Gruhas as part of the team and look forward to a great journey ahead.” Abhijeet Pai, Co-Founder of Gruhas, adds, “IPEC is fast emerging as a changemaker in India’s EV charging ecosystem. As the country accelerates toward an electric future, reliable and scalable charging infrastructure built on quality components, sub-assemblies, and smart chargers becomes mission-critical. Together, Zohra and IPEC have led the way in this space. By already serving four of India’s top OEMs, they’ve set benchmarks in manufacturing chargers, especially for the two-wheeler segment. Their deep ecosystem understanding and technical capabilities position them to expand beyond two-wheelers, into broader applications. At Gruhas, we are committed to backing companies that scale in tandem with OEMs — building the long-term future of the industry together.”
