Elecbits Raises USD 5.5 Mn in Series A Funding Led by Nexus Venture Partners The round also included participation from SE Ventures Energy, the investment arm of Schneider Electric, and Singapore based, India focused fund Riverwalk Holdings.
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Elecbits, an electronics design and manufacturing startup, has raised USD 5.5 million in a Series A funding round led by Nexus Venture Partners.
The round also included participation from SE Ventures Energy, the investment arm of Schneider Electric, and Singapore based, India focused fund Riverwalk Holdings.
The company said the new capital will be used to scale Elecbits XOR, its AI enabled electronics engineering and manufacturing platform. It also plans to expand its engineering capabilities and build in house manufacturing capacity to support rising demand from enterprise customers.
Founded in 2019 by Saurav Kumar Singh and Nikhil Rawat, Elecbits is headquartered in Gurugram. The startup provides end to end electronics product development services through a single platform, covering design, prototyping, manufacturing and quality control. Its work includes printed circuit board design, firmware development and full product assembly.
Elecbits manufactures electronics products such as industrial motor and inverter drivers, electronic payment devices, and low power e ink display solutions. These products are used across sectors including retail, logistics, automation and industrial applications.
The company said it serves more than 200 enterprise clients, including Panasonic, Schneider Electric, Motherson, Urban Company, Zetwerk, Maruti Suzuki, Ola and Valeo. Elecbits plans to scale its manufacturing capacity as global companies increasingly diversify supply chains beyond China.
Co-founder Nikhil Rawat said the investment would help reduce the time required to move hardware ideas from concept to production.
