Navitas Alpha Renewables raises RS 7 crore in seed funding
- ByStartupStory | September 15, 2022
Navitas Alpha Renewables Private Limited (NARPL) announced that it has raised INR 7 crore in a seed round of funding led by Niveshaay, the investment advisors, including the active participation of Madhusudan Sarda, IVY Growth associates, and so on.
The Navitas Alpha team is planning to invest fresh funds in expanding the Research & Development initiatives and further strengthen the company by adding incremental capacity. Moreover, a significant amount of the funds will be used to enhance their product’s value proposition and also to ramp-up the company’s testing capabilities.
“It is a privilege to have the support of such strong and like-minded investors at this early stage of NAPLE’s journey. With the backing from Niveshaay, in addition to our existing investors, we are well on our way to capitalising on the opportunity and becoming an industry leader,” as stated by the Director of NARPL, Akshay Agrawal.
Arvind Kothari, founder, Niveshaay said, “Given the enormous potential of the renewables sector and the NARPL team’s relentless pursuit of success, this investment seems an ideal way to support India’s transition to sustainable energy. We, at Niveshaay, are excited to help the NARPL team take advantage of the growing solar opportunities in the country.”
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