Soleos Solar Energy Secures ₹26.5 Crore Equity Funding to Power Growth Trajectories

• ByStartupStory     |    April 25, 2024

Soleos Solar Energy Pvt Ltd, a distinguished provider of Solar Engineering, Procurement, and Construction (EPC) solutions, has successfully raised approximately ₹26.5 crore in equity funding. The infusion of capital, spearheaded by leading financial advisor Swastika Investmart Ltd, marks a significant milestone for the renewable energy company as it gears up to fuel its expansion plans and meet burgeoning demand in the solar energy sector.

The funding round attracted a consortium of investors, including India Ahead Venture Fund, Sunil Singhania’s family office, Madhuri Madhu Kela, Nabs Vriddhi LLP, and Pawan Agarwal, Head of PCG at InCred Capital, among others. This strategic investment underscores the confidence of high net-worth individuals (HNIs) and institutional backers in Soleos Solar Energy’s innovative approach and robust business model.

Bhavesh Rathod, Founder and Director of Soleos Solar Energy, expressed gratitude for securing the funding, emphasizing its pivotal role in propelling the company towards higher growth trajectories. Rathod stated, “This funding will enable us to achieve our expansion goals and bolster our capabilities in delivering cutting-edge solar solutions.”

Established in 2012, Soleos Solar Energy specializes in providing turnkey solar solutions for Commercial and Industrial (C&I) rooftops, ground-mount solar projects, and solar parks. The company has garnered recognition for its expertise in EPC services and has successfully executed projects in Spain, the UK, Germany, and Portugal.

Sunil Nyati, Managing Director of Swastika Investment Ltd, highlighted the transformative potential of the funding, stating, “This investment will unlock new opportunities for Soleos Solar Energy to capitalize on its existing projects and tap into the immense potential of the renewable energy market.”

The infusion of funds will facilitate Soleos Solar Energy in meeting its working capital requirements, driving project execution, expanding its team, venturing into international markets, and venturing into Independent Power Projects (IPPs). Currently, the company boasts an impressive order book worth ₹450 crore, encompassing approximately 140 MW projects, indicative of its strong market position and growing demand for its services.

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