Freyr Energy raises Rs 27 cr

​Hyderabad: Freyr Energy, a Hyderabad-based rooftop solar company on Monday announced that is has raised an investment of Rs 27 crore. This investment is primarily a mix of equity and debt. The round was led by C4D Partners, a Netherlands-based Impact Investment Fund.

Last year, Freyr Energy had secured seed funding from Doen-Participaties, another Netherlands-based investment company that has a strong track record of investing into innovative and sustainable start-ups. 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. 

The Company has recorded a 16X growth in revenue in the last four years and has been profitable for the last two years. Freyr Energy currently has 1000+ installations across 18 States in India and a customer base in USA, Nigeria and Ghana. 

Commenting on the investment received, Saurabh Marda, Co-Founder, Freyr Energy said, “Freyr Energy is committed to leveraging its technology platform to accelerate growth of decentralized solar both in India and major solar markets around the world. The funds raised will be used to continue improving our technology platform, increase strength of our sales and channel partner network and support our marketing activities to fuel future growth.”