Freyr Energy Bags Rs 27 Crore Investment
Hyderabad based rooftop solar company Freyr Energy has announced that it has raised an investment of Rs 27 crore, primarily a mix of equity & debt. The round was led by C4D Partners, a Netherlands-based Impact Investment Fund.The start-up will use the funds to strengthen its technology platform, increase the sales and channel partner network & some product marketing.Besides, Freyr Energy commits to create more than 2,000 direct jobs and support more than 400 micro-entrepreneurs in the next five years.
Freyr Energy believes in making solar energy more accessible for homeowners, businesses and communities around the world. Freyr Energy’s technology platform, SunPro, was developed to provide customised solutions to the customers. The Company has recorded a 16x growth in revenue in the last four years and has been profitable for the last two years. Freyr Energy currently has 1000 plus 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 decentralized 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”, says Mr. Saurabh Marda, Co-Founder, Freyr Energy.
“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 strong 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”, says Mr. Arvind Agarwal, Managing Director, C4D.
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