Hyderabad based rooftop solar company Freyr Energy raised an investment of Rs 27 crore, which is primarily a mix of equity and debt. The round was led by C4D Partners, a Netherlands-based Impact Investment Fund.
Freyr Energy in an official statement said that the company believes in making solar energy more accessible for homeowners, businesses and communities around the world. The company’s technology platform, SunPro, was developed to provide customised solutions to the customers.
The company currently has over 1,000 installations across 18 States in India and a customer
base in USA, Nigeria and Ghana.
“Freyr Energy is committed to leveraging its technology platform to accelerate growth of decentralised solar both in India and major solar markets around the world. The funds raised will be used to continue improving our technology platform, increase strength of our sales and channel partner network and support our marketing activities to fuel future growth,” said Saurabh Marda, co-founder, Freyr Energy.
Arvind Agarwal, managing director, C4D said, “The capital support from C4D Partners will help Freyr Energy to create more than 2,000 direct jobs and support more than 400 micro-entrepreneurs in the next five years. Freyr has a technology platform to scale the business and achieve wider customer base in India and internationally. We will continue to invest in Fryer in the future rounds as well to unlock synergies with other portfolio companies globally.”