Prozeal Infra Engineering raises $4 million in Series A funding led by Alchemie Ventures for renewable energy projects in India

• ByStartupStory     |    April 5, 2023

Prozeal Infra Engineering Pvt Ltd has secured $4 million in a Series A funding round led by Alchemie Ventures, the family office arm of Chandrakant Gogri. The funding will be utilized to scale operations and carry out developer-model projects for energy and utility companies. With the help of the funds, the company aims to increase its market share in the Indian renewable energy sector, which is vital to meeting the country’s climate change commitments.

Prozeal Infra, founded by Manan Thakkar and Shobit Rai, has an order book worth Rs 1,000 crore, which is expected to be fulfilled over the next 12 months. The company offers engineering and construction solutions for utility-scale solar projects, and it claims to have a strong track record in executing complex projects on time and within budget.

Commenting on the investment, Chandrakant Gogri, Founder and Chairman Emeritus of Aarti Group of Industries, said, “Solar energy and decarbonisation are the backbone of India’s climate change commitment. Prozeal Infra, through its engineering capabilities, is well positioned to capture a lion’s share of this energy transformation.” He added that he was impressed with the company’s performance and the potential of its engineering expertise in the renewable energy space.

According to Incorp Advisory, the exclusive investment banker for the transaction, the successful fundraise is a testament to Prozeal Infra’s strong reputation and growth potential in the Indian energy sector. The investment is expected to help the company strengthen its market position and expand its capabilities to cater to the increasing demand for renewable energy solutions in India.

With the Indian government’s ambitious target of achieving 450 GW of renewable energy capacity by 2030, Prozeal Infra’s engineering capabilities and successful track record are expected to play a crucial role in the country’s energy transformation. The funding from Alchemie Ventures will help the company take advantage of the growing demand for renewable energy and contribute to India’s transition to a low-carbon economy.

Calling all entrepreneurs, investors and business owners! The wait is finally over. The 2nd edition of Startup Story B2B Connect is back with a bang – and this time, we’re taking it up a notch. With more startups, more investors and bigger opportunities than ever before, this is your chance to connect, collaborate and take your business to the next level. Get ready for an unforgettable networking experience that’s set to change the game. Stay tuned for all the exciting updates! Register Now Here.

Follow Startup Story