Bengaluru-based power electronics startup Dynolt Technologies has raised $1.7 million in a seed funding round led by Transition VC, with participation from angel investor Yashovardhan Shah. The company plans to use the investment to expand its product portfolio in mobility, renewable energy, and hydrogen applications.
Founded in 2022 by engineers Rajesh Sura and Teja Kumar, Dynolt develops power conversion solutions for sectors such as battery energy storage systems (BESS), electric vehicle (EV) charging, renewables, and hydrogen. The company produces software-defined power converters for on-board and off-board EV chargers, as well as battery swapping stations.
Dynolt has deployed over 14,000 power converters across India, supporting more than 30 million charging cycles. Its clients include EMO Energy, Sandhar, Bounce, International Battery Company, Numeros Motors, Yulu, Yuma Energy, and River.
The company plans to expand its presence in EV charging infrastructure with higher power chargers incorporating wide bandgap semiconductors. Additionally, it intends to develop power conversion technologies for solar and hydrogen applications, including high-frequency inverters and DC-DC converters.
Dynolt operates an R&D center in Bengaluru with a team of over 50 engineers. Co-founder and CEO Rajesh Sura stated that the funding will support the company’s expansion into new sectors while strengthening its capabilities in power electronics. Transition VC’s co-founders Raiyaan Shingati and Shoeb Ali emphasized the role of power electronics in India’s energy transition and highlighted Dynolt’s approach to power conversion technology.
The company aims to enhance its capabilities in power semiconductor solutions to support the growing demand for clean energy technologies in India.