Ellipsol Raises INR 2.5 Crore in Seed Funding for Innovative Solar Technology
- ByStartupStory | September 6, 2023
Ellipsol, an innovative solar company, has successfully raised INR 2.5 crore in a seed funding round led by Capital A, with participation from the Grand Anicut Fund and individual investors. This funding infusion will be instrumental in advancing Ellipsol’s prototype to production and initiating pilot projects.
The company will also focus on expanding capacities, and is set to raise more funds during the expansion stage, it said.
“Renewable energy sources are a way to achieve the greener, healthier world we deserve. Despite their prevalence, they are difficult to control. At Ellipsol, we aim to bridge this gap and make renewable energy available at will. Our patented technology will help harness 100% more energy from the solar panels installed in your premises,” said Samarth Jain, CEO and co-founder, of Ellipsol.
“We are thrilled to back Samarth and Kaustubh in their journeys to build a much-needed space of solar energy. The combination of hardware and technology is supremely critical to harness the power of the sun in a scientific manner. At Capital-A, we are committed to enabling startups to develop cleantech solutions utilizing renewable energy. Our purpose is to strengthen the climate ecosystem in India through these strategic deep-tech investments,” said Ankit Kedia, founder and lead investor, of Capital A.
Founded by former CERN scientists and with the backing of reputable Indian institutes, Ellipsol is a climate tech startup dedicated to delivering clean and affordable green energy to its customers. The company achieves this by developing innovative technologies that not only generate more green power but also enhance energy storage capabilities.
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