Bacancy Systems Private Limited has successfully raised INR 400 million in a Series A funding round led by Sabre Partners and Greenstone Capital. Both investors have acquired minority stakes through primary investments, marking a significant milestone in the company’s growth journey.
Headquartered in Gujarat and founded in 2021 by Binal Patel along with Krunal Patel and Hardik Sheth, Bacancy Systems specializes in embedded electronics and power systems for next-generation Electric Vehicle (EV) and railway applications. The company operates at the convergence of hardware, firmware, and cloud technologies, with a strong focus on intellectual property-led product development. Its portfolio includes advanced solutions for EV OEMs and charging infrastructure providers, particularly in DC charger controllers and associated systems.
The newly secured capital will be utilized to scale manufacturing operations, accelerate product innovation, strengthen research and development capabilities, and expand into international markets. The company has also reaffirmed its commitment to India’s “Make in India” initiative by continuing to invest in domestic innovation and localized production.
In addition to its EV focus, Bacancy is expanding into the rapidly evolving railway electronics sector. The company is developing a comprehensive suite of solutions, including Train Control and Management Systems (TCMS), control systems for traction and auxiliary converters, TRDP-based embedded modules, passenger information systems, and remote monitoring platforms. These technologies are designed to enhance operational efficiency, safety, and reliability across modern rail networks.
Binal Patel, Founder and CEO, described the funding as a defining moment that validates the company’s focus on deep R&D and indigenous manufacturing. He emphasized that the investment will enable Bacancy to accelerate innovation in electric mobility and railway systems, contributing to the development of a resilient industrial ecosystem in India.
Tanushree Agarwal, Partner at Sabre Partners, noted that Bacancy represents a strong opportunity aligned with India’s electrification and indigenization trends, highlighting its capabilities in power electronics and controller systems. Paresh Thakkar, Managing Partner at Greenstone Capital, added that the company’s engineering strengths and focus on sustainability position it well within India’s evolving clean mobility landscape.
With this investment, Bacancy Systems aims to strengthen its position as a leading Indian player in embedded electronics while expanding its footprint in global markets Sabre Partners is a Mumbai-based mid-market private equity firm established in 2002. The firm focuses on partnering with high-growth businesses across sectors including healthcare, financial services, and climate and sustainability. With more than two decades of investment experience, Sabre Partners emphasizes operational value creation and works closely with management teams to scale businesses through strategic guidance, financial support, and strong governance practices.
Greenstone Capital is a growth equity fund focused on sustainability, investing in Indian companies operating in climate-driven sectors such as clean energy, clean mobility, circular economy, and sustainable agriculture. The firm collaborates with founders to build resilient, future-ready businesses that deliver both strong financial performance and measurable environmental impact.
Steer Advisors is an established investment banking and corporate advisory firm with a presence in India and international markets. Operating across multiple industry sectors, the firm has been an early participant in India’s sustainability and electric vehicle ecosystem since 2017. Steer Advisors has played a key role in facilitating joint ventures, mergers and acquisitions, and growth capital transactions, supporting the expansion of businesses within the sustainability and EV landscape.
