Zenergize Technologies is a deep tech organization based in Gurugram. Zenergize Technologies has raised $4 million in a pre-Series A funding round. Giraffe Studios led the investment round. The round saw robust participation by industrial entrepreneurs and existing investors. The fresh capital structure has both equity funds and venture debt. The investment is a significant milestone in the company’s plans to expand its presence and capabilities in the clean technology sector.

Investor participation and technological innovations

The funding round was able to attract a diverse group of prominent investors supporting the growth trajectory of Zenergize Technologies. Investors in the round include Nikhil Sawhney, Varun Agarwal, Shyam Bagri, Raoul Bajaj, Sunil Kalra, Ajith Pai, Sandeep Barasia, Nitin Jain, and Hemant Daga, among others. 

This industrial backing and investment offer the Corporate the leverage in working towards its long-term commercial objectives. Zenergize Technologies is a specialized deeptech power electronics-based company established by its founders, Navneet Daga and Veer Karan Goyal. 

The business of the company produces silicon carbide (SiC)-based power electronics that are tailored for electric mobility and renewable energy applications. The Silicon Carbide technology provides a more advanced capability in power management and allows more efficiency and better thermal performance than conventional silicon-based devices in the hardware system.

Zenergize Technologies has a wide product range for clean energy integration. The existing portfolio includes solar inverters and alternating current (AC) as well as Direct current (DC) electric vehicle (EV) chargers. 

Its chargers are designed to support high-capacity charging demands reaching up to 240 kW. Beyond its existing portfolio of products, Zenergize is also working on a range of new hardware developments, including hybrid inverters and battery energy storage systems (BESS), which address the changing requirements in the energy market.

Capital deployment and market growth

The fresh funds of $4 million will be applied to several key operating areas to strengthen the company’s infrastructure. Zenergize Technologies intends to use these funds to increase production capacity to address increasing market demand. Much of the revenue will be directed into a new signature engineering value chain, increased Research and Development (R&D) activities, and a robust sales and service network across the country to support customer deployment.

It will also provide the necessary capital to continue development of the next generation of hardware products, enabling the company to proceed with the rollout of successive generation products. Operational expansion and widened engineering bandwidth will strengthen Zenergize’s ability to deliver enterprise, original equipment manufacturer (OEM), and larger commercial client energy storage and power conversion solutions.

Since its product launch, Zenergize Technologies has shown commercial success in a short period of time. The firm has reported an annual revenue run rate of ₹30 crores. This development marks a trend toward sustainable, consistent commercial uptake in its product lines, as the industry progresses in its efforts to incorporate electric vehicle charging stations and solar energy systems for powering electrical grids.

In addition to its revenue run rate, the deeptech startup has a strong commercial pipeline. Zenergize Technology has already achieved an order book of over ₹150 crore in a span of 1 year in the commercial market. The order pipeline is substantial, representing the growth in market demand for its Silica Carbide power electronics solutions in the two primary sectors of renewable energy and electric mobility.

Conclusion

The $4 million investment in the pre-Series A round by Giraffe Studios was the necessary investment for Zenergize Technologies. The company is poised for continued expansion through the use of its proprietary Silicon Carbide power electronics in solar inverters, high-capacity EV Charging Stations up to 240 kW, hybrid inverters, and BESS (Battery Energy Storage Systems).

The annual revenue run rate is at ₹30 crore, and the order book touches ₹150 crore in 1 year of commercialisation; Zenergize plans to use the funding to grow its manufacturing, R&D, and sales service infrastructure to meet the increasing demand of the market.