Freyr Energy, a Hyderabad-based rooftop solar company, has raised Rs 27 crore in Series-A round led by C4D Partners, a Netherlands-based Impact Investment Fund.
The investment is a combination of debt and equity, Freyr Energy said in a statement.
Last year, Freyr Energy had secured seed funding from Doen-Participaties, another Netherlands-based investment firm that focuses on innovative and sustainable start-ups.
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The funds raised will be used to improve the technology platform and increase the strength of sales and channel partner network.
It has over 1,000 installations across 18 states in India and customers in USA, Nigeria and Ghana.
Freyr Energy believes in making solar energy more accessible for homeowners, businesses and communities around the world. Freyr Energy’s technology platform, SunPro, was developed to provide customised solutions to the customers.
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C4D Partners was earlier known as ICCO Investments. C4D Partners is headquartered in Utrecht and the firm has investment offices in India, Indonesia and the Philippines.
Freyr Energy was founded in 2014 by Saurabh Marda and Radhika Choudary. The company provides turnkey solutions for distributed solar energy generation systems ranging from 1-200 kW. It focuses on rooftop systems (commercial and residential), solar-powered water pumps and petrol pumps, and microgrids.
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