Solarad.ai Raises Undisclosed Funding in Seed Round Led by India Quotient
- ByStartupStory | June 13, 2023
Solarad.ai, a pioneering company specializing in energy forecasting for solar plants and battery storage, has successfully secured an undisclosed amount of funding in a seed round led by India Quotient. The investment will be utilized to fuel the company’s expansion, enhance technology infrastructure, and accelerate product development, reinforcing Solarad.ai’s mission to deliver world-class energy forecasting models.
The funds will be allocated towards strengthening the deep-tech models and algorithms used for energy generation forecasting, expanding the cloud infrastructure for increased scalability, and conducting research and development to improve forecast accuracy. Solarad.ai also plans to expand its solution offerings in Europe and the US, attract top talent across various domains, and automate energy scheduling and trading processes to provide enhanced value to customers.
Ravi Choudhary, Co-Founder of Solarad.ai, expressed his enthusiasm about the funding, stating, “The funding from India Quotient will have a significant impact on our operations, projects, and growth. We’re poised to achieve a high margin, ensuring long-term sustainability. Moreover, this will help us accelerate our research and development initiatives, scale up our sales and marketing efforts, and develop automated energy scheduling and trading processes, bringing additional value to our customers.”
Anand Lunia, Founding Partner at India Quotient, highlighted the importance of Solarad.ai’s contribution in the renewable energy sector, stating, “Their commitment to leveraging advanced technology for creating reliable and accurate forecasting models has been exceptional. This funding will propel them to new heights, and we are excited to support them in their mission to transform the energy sector.”
The funding aligns with Solarad.ai’s long-term strategy to expand into new markets, enhance its product offering, reinforce data security, and establish itself as a leading solution provider in the renewable energy industry. The company also aims to attract strategic partnerships and further investments to drive growth and innovation.
About Solarad.ai: Solarad.ai is a deep-tech company that specializes in energy generation forecasting for solar plants and battery storage. Founded by Ravi Choudhary, Bhramar Choudhary, and Haider Abbas, Solarad.ai leverages advanced technologies to deliver accurate forecasting solutions, contributing to a sustainable and efficient energy future.
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