InSolare Raises $8 Million in Growth Funding Led by Negen Capital
- ByStartupStory | February 27, 2024
InSolare, a prominent renewables EPC company known for its customer-centric and technology-driven solutions, has successfully raised Rs 66 crore (approximately $8 million) in a growth funding round led by Negen Capital. Mukul Mahavir Aggarwal, Anchorage Capital Fund, and Ankit Mittal of Khazana Tradelink also participated in the round.
According to a press release by the company, this investment will empower InSolare to further bolster its capabilities and accelerate its impact within the renewable energy sector. The firm is committed to advancing its technological solutions and customer-centric approach.
Navashil Sharma, the leader of InSolare, emphasized the company’s dedication to providing renewable energy solutions tailored to the needs of commercial and industrial clients across India. He stated, “We are focused on leveraging our over a decade of experience to continue delivering high-quality solutions to our valued customers.”
InSolare boasts a strong portfolio, having executed over 300MW EPC work orders and currently planning for a 500MW Solar Park. Last year, the company celebrated the successful completion of a 70 MWp Solar Park in Jalna, Maharashtra, with an AC capacity of 46.6 MW and DC capacity of 65.35 MWp.
With the support of Negen Capital, Mukul Mahavir Aggarwal, Anchorage Capital Fund, and Ankit Mittal, InSolare is poised to expand its reach and make significant contributions to India’s renewable energy landscape.
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