IPEC, an EV charging startup, has raised $3 million from Nikhil Kamath and Abhijeet Pai’s Gruhas.
The funds raised will be used to strengthen its leadership in the EV charging segment and accelerate its growth in the broader power electronics domain. This investment also enables IPEC to expand in other avenues and capabilities to launch IPEC into global markets.
Zohra Khan, CEO of IPEC, said, “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, said, “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.”
Founded in 2017 by the MEHER Group in partnership with DEKI Electronics and Sungho Electronics, IPEC is led by CEO Zohra Khan.
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.
Having successfully delivered over 1 million EV charging products to the top EV OEMs in India, IPEC plans to expand its manufacturing capacities to 50,000 units per month.
