IPEC raises $3M from Gruhas for EV charging expansion

What's the deal? Bengaluru-based EV charging solutions company IPECDealroom has a profile for this one. Try Dealroom → has raised $3 million in an early-stage funding round led by GruhasDealroom has a profile for this one. Try Dealroom →. The capital will support manufacturing expansion, growth in power electronics and international market opportunities.

Why it matters: IPEC designs and manufactures private, portable and public EV chargers, EV connectors and vehicle charging inlets, alongside cloud-based charging-management software. The Bengaluru-based company plans to increase its manufacturing capacity to 50,000 units per month.

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Image credit: Ivan Radic