Location
Kanpur, UP
Year Founded
2020
Sector
Electric Vehicles
Seafund Entry
January 2024
SUBSector
Wireless Charging
cOINVESTORS
Thinkuvate, EV2 Ventures
Company Overview
Simactricals pioneers innovation in charging of electric vehicles, unmanned aerial vehicles, and high voltage products. They develop wireless chargers that offer cross compatible and hassle free charging for 2/3/4 wheeler EVs and UAVs, while reducing the carbon footprint. The team has innovated on charger designs, materials used and electromagnetics to ensure higher charging speeds, product efficiency and advanced thermal management.
PROBLEM STATEMENT
The current state of charging infrastructure for electric vehicles is underwhelming to say the least. They are constrained by physical limitations of the wired connections. Moreover, existing EV charging infrastructure has compatibility issues in plug types and charging speeds. These factors lead to charger performance being inefficient, battery damage and fires. Lastly, wired chargers are prone to wear and damage from surge current issues.
investment rationalE
Wireless charging market is large is US, Europe with Asia catching up to the trend. As EV adoption increases, the wireless market will see a sharp rise too. There are few large global players like Electreon and Witricity, however only one other smaller player in India. Simactricals was much further ahead compared to its Indian competitor in both product development and POC phases. Both the founders have a strong pedigree in EV domains with the right mix of technical and business skills to grow this. Early conversations with OEMs / late stage funds showcased strong interest in this technology at scale.
FOUNDER BACKGROUND
Mihir Mishra
CEO
Bachelor of Technology (BTech) in Mathematics and Computer Science. Spent 5 year working and researching on EV ecosystem in India, building products from scratch.
Balaji Sriram
CTO
A doctoral researcher at IIT Kanpur in the domain of High Voltage Engineering. First hand experience in Design of Electrical Insulation systems for Medium & High Voltage power apparatus AIS/ GIS.