Rooftop solar firm Freyr Energy has raised ₹58 crore in a Series-B round led by EDFI ElectriFI.
While the EU-funded impact investment facility, managed by EDFI Management Company, led with $3 million, other investors were Schneider Electric Energy Asia Fund (SEEAA), Lotus Capital LLC, Maybright Ventures and VT Capital.
“This strategic investment will allow us to make investments in building our team, product development and marketing to continue scaling at a rapid pace,” Freyr Energy co-founders Radhika and Saurabh said.
“The solar market for the retail sector in India is highly fragmented... in this context, we do see an opportunity to team up with Freyr Energy in bringing solar solutions combined with technology and consumer financing to allow retail customers to transition seamlessly to solar power,” said Rodrigo Madrazo, CEO of EDFI Management Company.
