India, Mar 30 : Bacancy Systems Private Limited a Gujarat-headquartered embedded electronics and power systems company focused on next-generation Electric Vehicle (EV) and Railway Electronics solutions, today announced the successful close of its INR 400 Million Series A funding round led by Sabre Partners and Greenstone Capital. Both investors have acquired minority stakes in the company through primary investments.
The capital infusion will support Bacancy’s next phase of growth, with a focus on scaling its manufacturing capabilities, accelerating product development, strengthening Research and Development (R&D), and expanding into international markets. The company also reiterated its commitment to the government’s “Make in India” initiative through continued investment in domestic innovation and production.
Founded in 2021 by Binal Patel along with his school friends (Krunal Patel (COO) and Hardik Sheth (CTO), Bacancy operates at the intersection of hardware, firmware, and cloud technologies, with a strong focus on IP-led power electronics and control systems. The company has built a differentiated portfolio of products for EV OEMs and charging infrastructure players, particularly in DC charger controllers and associated systems.
In addition to its EV focus, Bacancy is expanding into India’s rapidly growing Railway Electronics segment where it is developing a comprehensive suite of Train Control and Management System (TCMS) solutions, Control systems for traction converters and auxiliary converters, TRDP-based embedded modules, PA/PIS Systems and remote monitoring platforms, aimed at enhancing operational efficiency and reliability in the modern rail systems.
The newly raised capital will be deployed towards expanding manufacturing infrastructure, enhancing product capabilities, and deepening R&D investments.
Commenting on the development, 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.”
Representatives from Sabre Partners and Greenstone Capital also expressed confidence in Bacancy’s growth trajectory and its positioning within high-growth sectors such as Electric mobility and Railway modernization.
Commenting on the investment, Tanushree Agarwal, Partner at Sabre Partners, added,
“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, added,
“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.”
With this funding, Bacancy aims to strengthen its position as a leading Indian player in Embedded Electronics and power systems for EVs and railways, while expanding its presence in global markets.
