Solar Ladder Secures Seed Funding from Axilor, Titan Capital and Other Investors

• ByStartupStory     |    May 3, 2023

Solar Ladder, a platform that manages the supply chain for solar installation firms, has secured Rs 11 crore in seed funding from prominent investors including Axilor Ventures, Titan Capital, DeVC, Stride Ventures, and angel investors from Atha Group, NIPHA group, and Varun Alagh (Founder of Mamaearth). Other investors include Subin Mitra and Aditya Bandi of Groyyo, and Deepak Jain, a partner at Bain and Co. The funding will aid the company in expanding its operations and improving its services.

According to a press release, Solar Ladder plans to utilize the recently raised Rs 11 crore seed funding to distribute software that automates processes for solar installation firms. The platform aims to enable these companies to expand their business by up to tenfold. The ultimate goal of Solar Ladder is to establish itself as the primary ecosystem for solar installation firms.

Solar Ladder is a comprehensive supply chain platform that assists solar installation companies in expediting the deployment of rooftop solar. With Solar Ladder’s SaaS tool, solar installation firms can access end-to-end solutions, from sales and project management to operations and maintenance resources, that can aid in expanding their businesses. The platform’s procurement layer facilitates the acquisition of solar modules, inverters, structures, balance of system, and other critical materials, while the financing layer offers short-term and long-term loans to end customers. Overall, Solar Ladder offers a one-stop-shop solution for all aspects of solar installation.

Solar Ladder, founded by Manan Mehta, Abhishek Pillai, and Farhan Ahmed, claims to have achieved profitability without external funding. The platform boasts a customer base of over 250, which includes major players like Mahindra Solarize and Fourth Partner Energy. Recent reports suggest that India’s rooftop solar potential is around 200 GW, with the country adding 1.7 GW of rooftop solar capacity in FY22. Other companies in this domain include Elevation Capital-backed SolarSquare and Blume Ventures-backed Aerem.

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