Jungle Ventures Co-Leads $5 Mn Seed Round in Silicon-Based Energy Startup Enerzolve

Jungle Ventures has co-led the USD 5 million (INR 44.9 crore) seed round in Enerzolve Smart Technologies, a semiconductor-powered energy solutions company building power-electronics systems for smart grids, renewables, and battery storage.

In a press release, Jungle Ventures explained that the round, co-led with Kae Capital, marks Jungle’s latest high-conviction bet in India’s emerging deep-tech hardware ecosystem.

The round also saw participation from leading angel investors, including Zetwerk co-founders Amrit Acharya and Srinath Ramakrrushnan, Livspace’s Ramakant Sharma, Unacademy’s Roman Saini and Gaurav Munjal, Urban Vault’s Amal Mishra and Panthera Peak’s Nikhil Bhandarkar.

Jungle’s investment will enable Enerzolve to accelerate core IP development across silicon, embedded systems, and firmware; deepen its engineering and product capabilities; and scale pilot manufacturing for its smart grid and storage product lines.

Grid Systems And Energy Storage

Against this backdrop, Enerzolve is building full-stack, reusable, and deeply localized IP across smart grid systems and energy storage:

• Smart Grid & Embedded Systems: Advanced protection relays, smart meters, analyzers, and detectors, built on shared hardware and firmware IP blocks optimised for India’s regulatory, safety, and cost environment.

• Energy Storage & Power Electronics: A comprehensive architecture covering Battery, BMS, PCS, inverters, and EMS, tailored for utility-scale and C&I applications, with optional ODM/R&D solutions and system integration capabilities.

By architecting its organisation around shared IP and specialised domain teams, Enerzolve is uniquely positioned to translate policy tailwinds into certified, field-ready products for utilities, EPC players, and developers.

This investment also aligns with Jungle Ventures’ strategy of backing high-calibre, second-time founders and experienced industry operators who bring deep domain expertise and executional maturity. The Enerzolve founding team, with decades of experience across power, infrastructure, and manufacturing, fits squarely into this thesis.

Along with Abhay, the Enerzolve team is led by its other co-founder, Anupam Kumar Bhatt, who together bring over 30 years of experience across organisations such as Zetwerk, L&T, Adani, Sterling & Wilson, and Tata.

With the seed round, Enerzolve aims to deepen core technology IP across silicon, firmware, and power electronics. It also aims to scale engineering and product teams focused on smart grid and storage, and setup pilot manufacturing with certification for key product lines. Moreover, it strengthens go-to-market and business development for utilities, private DISCOMs, EPCs, and storage developers

Leadership View

India’s energy transition is being driven by sweeping regulatory reforms, mandated grid upgrades, and record renewable and storage deployment. With the rollout of 250 million smart meters, a ₹3.04 lakh crore grid-modernization program, privatisation of Union Territory DISCOMs, and a rapidly expanding tender pipeline for Battery Energy Storage Systems (BESS), the country is entering a long-term, recession-resistant investment cycle. Jungle views this environment as fertile ground for new-age hardware companies that combine silicon-level innovation with robust manufacturing and productisation.

On this announcement, Rishab Malik, Managing Partner, Jungle Ventures said, “As India’s power sector undergoes a once-in-a-generation modernization cycle, we see a significant opportunity for deep-tech companies that can build proprietary IP, manufacture at scale, and deliver end-to-end solutions for utilities,” He added, “Enerzolve stands out as a full-stack, IP-led hardware company that is re-designing the foundational systems powering India’s energy infrastructure. We believe the team has the potential to build a category-defining company at the intersection of semiconductors, embedded systems, and power electronics.”

“India is at an inflection point in its energy journey,” said Abhay Adya, Founder & CEO, Enerzolve. “Partnering with Jungle Ventures gives us access not just to capital, but to global networks, operational expertise, and a long-term partner aligned with our ambition to make India a global hub for intelligent power electronics.”

“We are excited to back Enerzolve at a stage where strong engineering choices and disciplined execution matter most,” said Gaurav Chaturvedi, General Partner at Kae Capital. “The team brings rare on-ground experience in power, manufacturing, and infrastructure, and is building products that can move from lab to field with speed and reliability. We see Enerzolve emerging as a trusted technology partner for utilities and energy developers as India’s energy systems become more complex.”