Jungle Ventures has co-led a USD 5 million (INR 44.9 crore) seed funding round in Enerzolve Smart Technologies, a deep-tech energy solutions company developing semiconductor-powered systems for smart grids, renewable energy, and battery storage. The round was co-led alongside Kae Capital, marking Jungle Ventures’ latest investment in India’s growing deep-tech hardware ecosystem.
The funding round also attracted participation from prominent angel investors, including Zetwerk co-founders Amrit Acharya and Srinath Ramakrrushnan, Livspace co-founder Ramakant Sharma, Unacademy founders Roman Saini and Gaurav Munjal, Urban Vault co-founder Amal Mishra, and Panthera Peak’s Nikhil Bhandarkar.
The capital infusion will enable Enerzolve to accelerate the development of its core intellectual property across silicon, embedded systems, and firmware, expand its engineering and product teams, and scale pilot manufacturing for its smart grid and energy storage product portfolio.
Commenting on the investment, Rishab Malik, Managing Partner at Jungle Ventures, said that India’s power sector is undergoing a once-in-a-generation modernization, creating strong opportunities for companies building proprietary hardware IP and end-to-end solutions for utilities.
“Enerzolve stands out as a full-stack, IP-led hardware company re-designing the foundational systems powering India’s energy infrastructure,” Malik said, adding that the company has the potential to emerge as a category-defining player at the intersection of semiconductors, embedded systems, and power electronics.
Abhay Adya, Founder and CEO of Enerzolve Smart Technologies, said the partnership with Jungle Ventures would provide access not only to capital but also to global networks and operational expertise, supporting the company’s ambition to position India as a global hub for intelligent power electronics.
Gaurav Chaturvedi, General Partner at Kae Capital, noted that Enerzolve’s founding team brings deep on-ground experience in power, manufacturing, and infrastructure, enabling it to develop products that can move efficiently from laboratory to field deployment. He added that Enerzolve is well positioned to become a trusted technology partner for utilities and energy developers as India’s energy systems grow increasingly complex.
India’s energy transition is being driven by regulatory reforms, large-scale grid upgrades, and record deployment of renewable energy and storage projects. Key initiatives include the rollout of 250 million smart meters, a ₹3.04 lakh crore grid-modernization program, privatization of Union Territory DISCOMs, and a rapidly expanding pipeline of battery energy storage system (BESS) tenders.
Against this backdrop, Enerzolve is building localized, reusable intellectual property across two primary verticals: smart grid and embedded systems, including protection relays, smart meters, and analyzers; and energy storage and power electronics, covering batteries, battery management systems, power conversion systems, inverters, and energy management systems for utility-scale and commercial applications.
The company’s founding team is led by Abhay Adya and Anupam Kumar Bhatt, who together bring over 30 years of experience across organizations such as Zetwerk, L&T, Adani, Sterling & Wilson, and Tata.
With the seed funding, Enerzolve plans to deepen its core technology IP, expand engineering and product teams, establish pilot manufacturing and certification processes, and strengthen its go-to-market efforts with utilities, EPC players, private DISCOMs, and energy storage developers.
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