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In recent past, numerous multilevel architectures came into existence. In this background, cascaded multilevel inverter (CMLI) is the promising structure. This type of multilevel inverters synthesizes a medium voltage output based on a series connection of power cells which use standard low-voltage component configurations. This characteristic allows one to achieve high-quality output voltage and current waveforms. However, when the number of levels increases switching components and the count of dc sources are also increased. This issue became a key motivation for the present paper. The present paper is devoted to investigate different types of CMLI which use less number of switching components and dc sources and finally proposed a new version of Multi-cell based CMLI. In order to verify the proposed topology, MATLAB – simulations and hardware verifications are carried out and results are presented.