IPEC India Secures $3 Million from Gruhas for EV Expansion

Bengaluru-based EV charging startup IPEC has secured a $3 million investment from Gruhas, the investment platform co-founded by Nikhil Kamath and Abhijeet Pai. Founded in 2017 as a joint venture between MEHER Group, Deki Electronics, and Sungho Electronics, IPEC supplies a wide range of EV charging products—including private, portable, and public chargers—to leading EV manufacturers in India. The company has delivered over 1 million charging products and is preparing to scale up manufacturing to 50,000 units per month. IPEC’s offerings also include cloud-based charging management systems and a mobile app for real-time insights, all compliant with major national and international standards. The new funding will help IPEC consolidate its leadership in the EV charging sector, accelerate growth in power electronics, and expand into global markets. CEO Zohra Khan highlighted the company's mission to support the 'Make In India' initiative and reduce reliance on imports for power electronics.