Elecbits Raises $5.5 Mn In Series A To Scale Electronics Manufacturing

Electronics design and manufacturing startup Elecbits has announced the raise of $5.5 Mn (about INR 49.4 Cr) in its Series A funding round led by Nexus Venture Partners. VC firms SE Ventures and Riverwalk Holdings also partook in the round. 

The startup plans to deploy the fresh scale to scale its electronics engineering and manufacturing platform, Elecbits XOR, deepen in-house competencies and support international market expansion. 

Founded in 2019 by Saurav Kumar Singh and Nikhil Rawat, Elecbits specialises in providing comprehensive supply chain services and advanced technical expertise for the electronics industry. It simplifies logistics and manufacturing with core offerings like component sourcing, PCB assembly and fabrication, and tailored electronics consultation. 

Its engineering solutions cover the full spectrum of development, including detailed PCB designing, complex firmware development, industrial designing and embedded testing. 

The startup has partnered with over 200 companies including Panasonic, Schneider Electric, Motherson, Urban Company, Zetwerk, Maruti Suzuki, OLA, Valeo.

It claims that its proprietary platform, Elecbits XOR, leverages AI to streamline hardware development, offering instant quotes, transparent supply chains, and risk management features.

With this round, the startup aims to build the digital and physical infrastructure required to make India a global electronics powerhouse, it said in its statement. Elecbits positions itself as a vertically integrated “China+1” electronics partner, catering to global supply chain diversification needs amid industry shifts toward Indian sourcing.

“Electronics powers every modern innovation, yet building hardware has always been painfully slow. At Elecbits, we aren’t just driving the change – we’re engineering the operating system for India’s electronics future,” Rawat said.

The development comes at a time when startups are playing a vital role in boosting India’s electronics-manufacturing capabilities by filling in critical gaps in design, component manufacturing, and supply-chain execution. 

As the country rolls out incentives and infrastructure under schemes like Production‑Linked Incentive (PLI) Scheme and Electronics Component Manufacturing Scheme (ECMS), many electronics startups take advantage of lower entry barriers to build PCBs, camera- and display-modules, and sub-assemblies. 

Earlier this year, IT minister Ashwini Vaishnaw said that the ECMS received investment proposals to the tune of INR 1.15 Lakh Cr, nearly double compared to the scheme’s original target of INR 59,350 Cr.

In October, the government approved the first batch of seven projects under the Electronic Components Manufacturing Scheme (ECMS). The selected companies will invest INR 5,500 Cr under the scheme to indigenously produce key components, such as PCBs, camera modules, laminates and polypropylene films.