Gurgaon-based Smart Energy solutions provider ZunRoof announced that they managed to raise $1.2 million in its pre-Series A round from Godrej Industries. The solar focused startup plans to utilize the new round of funding for expansion and further strengthen its product portfolio.
Pranesh Chaudhary, Founder & CEO, ZunRoof, said, “Our pre-Series A and backing from Pirojsha Godrej comes at the perfect time – allows us to hire and retain great talent, scale solar rooftop operations across India and launch our home-IOT products.”
SOLAR ROOFTOPS IN INDIA
Zunroof was Founded in 2016 by Pranesh Chaudhary and Sushant Sachan, ZunRoof main goal is to invest all the investment for building up more resources and to launch more innovative products and solutions for its customers.
ZunRoof has already designed solar rooftops for over 10,000 residential homes across the country. The company had earlier managed to get funding 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, MD at L’Oréal (UK & Ireland); Ajith Pai, Paipal Ventures, and Arun Diaz of IntelleGrow, and a group of IIT Kharagpur alumni based in the United States.
Pirojsha Godrej, Executive Chairman, Godrej Properties, said, “We are delighted to support ZunRoof’s exciting plans in the home IOT and solar rooftop spaces. The Founders’ exciting vision combined with the passion, knowledge and the leadership they’ve demonstrated in the space makes us very excited to be a part of their journey.”
INDIAN GOVERNMENT SOLAR PANEL SCHEME
Founded in 2016 by Pranesh Chaudhary and Sushant Sachan, ZunRoof specializes in solar rooftop design, installation, and management using technology. It uses computer vision, Artificial Intelligence and Visual Reality to organize, implement and execute the solar rooftop installation and maintenance for homeowners.
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The company helps customers reduce their electricity bills by using their underutilized rooftops which are idle for solar power generation, providing sense and control of every appliance in the house. ZunRoof also offers an mobile application for customers to control, manage and modify solar usage.
It recently made big bang entry by expanding in cities like Chennai, Bengaluru and Coimbatore, and serves customers in more than 40 cities, including Delhi-National Capital Region, Chandigarh, Lucknow, Kanpur, Agra, Jaipur, Haridwar, Ludhiana, and Jalandhar in India.
Solar power generation is one of the main initiatives of the Indian government in last 5 years and all the efforts are made to boost to increase its renewable energy capacity. In March this year, the government allocated a huge amount of fund INR 11,814 Cr to encourage Phase-II of the grid-connected rooftop solar programme. Solar Rooftop https://solarrooftop.gov.in
ZunRoof said that it is working towards the fulfillment of the government’s target of achieving 40 Giga Watt by 2022 for rooftop solar.
The solar rooftop industry in India is at the initial stage and is currently is facing couple of challenges before it can transform further. The biggest problem Solar Industry is facing lack of Investment from Government and Private sector companies and other challenge is that home-owners and Small Medium Enterprises are unknown of solar rooftop advantages and benefits.