The Business Bytes
TBB BUREAU
HYDERABAD, OCT 17, 2023
Freyr Energy, a leading tech-enabled rooftop solar company in India, has secured an equity investment of INR 58 Crores. Freyr Energy is at the forefront of sustainable change accelerating the transition to solar energy for the retail customers (Homeowners and Micro, Small, and Medium Enterprises) in India.
The round was led by EDFI ElectriFI, an EU-funded impact investment facility managed by EDFI Management Company which invested USD 3 million. Other investors who participated in the round included Schneider Electric Energy Asia Fund (SEEAA), Lotus Capital LLC, Maybright Ventures and VT Capital.
“We are excited about this fund raise and bringing on-board likeminded investors. This strategic investment reinforces Freyr Energy’s commitment to empower Indian retail customers and will allow us to make investments in building our team, product development and marketing to continue scaling at a rapid pace,” said Radhika Choudary and Saurabh Marda, Co-Founders, Freyr Energy.
