Bacancy Systems Private Limited, a company working in embedded electronics and power systems, has raised INR 40 crore ( US$4.2 million ) in a Series A funding round. The investment was led by Sabre Partners and Greenstone Capital, who have taken minority stakes in the company.
The company will use this funding to expand its manufacturing, improve its products, and strengthen its research and development (R&D).
Bacancy is also supporting the “Make in India” initiative by investing in local production and innovation within the country.
Along with its electric vehicle (EV) business, the company is now also entering the railway electronics sector, which is growing quickly.
Binal Patel, Founder and CEO of Bacancy Systems, said “Closing our first fund raise is indeed a defining moment for Bacancy Systems. This milestone validates what we have believed from day one — that deep, purpose-built R&D in Electric mobility, Railways, is not just the future, but an urgent necessity, and local manufacturing of the same under the Make in India initiative is equally essential to empower India and build a reliable supply chain. With over two decades of industry experience, I am more confident than ever that the innovations we are building will define the next generation of India’s industrial backbone. This capital empowers us to push the boundaries of what’s possible in EV infrastructure, Railways, and beyond — and we are just getting started.”
Tanushree Agarwal, Partner at Sabre Partners, said “Bacancy represents a compelling play on India’s electrification and indigenization themes. The company has built strong capabilities in power electronics and controller systems, with a clear focus on IP-led product development. We believe Bacancy is well-positioned to benefit from the rapid growth in EV infrastructure and railway modernization, and we are excited to partner with the management team to support the next phase of growth and scale.”
Paresh Thakkar, Managing Partner at Greenstone Capital, said, “Bacancy’s strong engineering capability and focus on indigenized embedded systems position it well within India’s evolving EV and railway electronics ecosystem. We are pleased to collaborate with the company in driving its upcoming phase of growth and transformation.”
Founded in 2021 by Binal Patel, along with Krunal Patel and Hardik Sheth, Gujarat-based Bacancy Systems specializes in building embedded electronics and power systems for electric vehicles and railway applications.
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