India: Solar Rooftop Firm Raises INR 18 Crore

Apr 2021
India, April, 21 2021 - Solar rooftop solutions provider Freyr Energy on Wednesday said it has raised INR 18 crore from Total Carbon Neutrality Ventures, Schneider Electric Energy Access Asia and C4D Partners.

The funds will be used to accelerate growth and further enhance customer experience, a release on the equity investment said. Managing Director Saurabh Marda sought to highlight how the company stood to gain from the capital as well as global experience in the energy sector of the investors. For C4D Partners, the Netherlands-based Impact Investment Fund, this is a follow-on investment. It had led the Series A funding round in the firm in November 2018. Freyr Energy had then raised INR 27 crore through a mix of equity and debt.

Investors in the latest round were buoyant about the growth prospects from the SunPro+ customer app Freyr had launched a few months ago towards making the process of owning a solar system simple and seamless for customers.

Florian Temime, principal, Total Carbon Neutrality Ventures, said the “innovative software will ease the acquisition of rooftop solar customers and facilitate the entire customer journey from acquisition to after sales service. Gilles Vermot Desroches, president of SEEA Asia said with the app Freyr Energy can contribute to mass-market adoption of solar energy.

Source : The Hindu

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