COMPANY OVERVIEW
Background: Founded in 2016, the company is a market leader in the smart electricity segment, leveraging technology (VR, IoT, analytics) to catalyse residential solar rooftops in India.
Alongside, they offer a range of IoT products for smart home energy solutions, aiming to transform energy management in residential settings.
Traction: The company has assessed >250,000 homes, designed over 30,000 rooftop solar systems in 75+ cities in India, and installed 30 MW+ of rooftop solar and sold 125,000+ IoT devices, as of last year. They experienced a ~60% QoQ revenue growth in the past 2 quarters in the residential solar rooftop segment.
Founded by IIT Kharagpur alumni, the company has raised capital from a leading family office (US$10M+ to date) and is looking to raise additional US$12M in a combination of debt, equity and / or grant capital. The company aims to IPO in 2026.
USE OF FUNDS
Blitz scaling residential solar in India. Key fund utilization areas: Branding, Sales & Operations, Supply chain financing; Small manufacturing units of solar cells & grid-tied inverters
POTENTIAL IMPACT
The company aims to accelerate the solarization of residential rooftops across pan-India, including rural areas. Thereby promoting renewable energy adoption, reducing household electricity costs, and enhancing energy access in underserved regions.
FUNDRAISE OVERVIEW
Deal Size:
Deal Type:
Financing Type:
US$11M - US$30M
Within 6 Months
Debt, Equity, Grant
ACTIVITY
Sector:
Country:
Renewables (Wind / Solar / Hydro)
India
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