Comments
The family office of diversified conglomerate Godrej has invested $1.2 million in home-technology startup ZunRoof in a Pre-Series A round.
This is a first investment that Godrej has made in any startup first investment in any startup. Godrej makes most of its early stage fundings through its venture fund Omnivore Partners
ZunRoof is a smart energy solutions provider startup and plans to utilize the funds for expansion activities and capital for expansion and to further strengthen its product portfolio. It specialises in solar rooftop design, installation, and management using technology. The company uses computer vision, AI and VR to streamline the solar rooftop installation and maintenance for homeowners.
With the recent expansion in Chennai, Bangalore and Coimbatore, ZunRoof serves customers in more than 40 cities, including Delhi-NCR the region, Bangalore, Chennai, Chandigarh, Lucknow, Kanpur, Agra, Jaipur, Haridwar, Ludhiana, and Jalandhar.
The funding comes at an integral time for the company, which is working towards the fulfillment of the government's target of achieving 40 GW by 2022 for rooftop solar.
Pranesh Chaudhary, Founder & CEO, ZunRoof, said, "...the funding allows us to hire and retain great talent, scale solar rooftop operations across India and launch our home-IOT products. We are already market leaders for residential solar rooftops in 40+ cities (including Delhi, Chandigarh, Lucknow, Bangalore) and aim to build on this lead to bring smart and clean energy choices to every home in India."
ZunRoof, which has designed solar rooftops for over 10,000 residential houses, has earlier raised fundings from investors Ramakant Sharma, Founder of Livspace, Gaurav Gupta (Asia Director, Dalberg Advisors), Pradeep Tharakan, a senior energy specialist at Asian Development Bank (ADB), Vismay Sharma, managing director at L’Oréal (UK & Ireland), Ajith Pai (Paipal Ventures) and Arun Diaz of IntelleGrow and a group of IIT Kharagpur alumni based in the US.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.