Renewables Energy Focused InSolare Raises INR 66 Cr Led by Negen Capital The Bengaluru-based startup aims to use the raised funds to further improve its capabilities and accelerate its impact in the renewable energy sector.
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Solar energy EPC (Engineering, Procurement And Construction) solutions provider Insolare has announced raising of INR 66 crore (approximately USD 8 million) in a growth funding round led by Negen Capital.
Mukul Mahavir Aggarwal, Anchorage Capital Fund and Ankit Mittal, Khazana Tradelink also participated in the round.
As per the official release, the startup will use the raised funds to further improve its capabilities and accelerate its impact in the renewable energy sector.
Navashil Sharma, Founder of InSolare, said, "Insolare is committed to providing state-of-the-art renewable energy solutions to commercial and industrial clients across India. With over a decade of experience and a track record of excellence, we are excited to play a key role in India's journey towards achieving its 500GW goal by 2030."
Founded in 2009, Insolare is a customer-centric and result-oriented technology-driven renewable energy solution provider with over a decade of experience in delivering solutions to commercial and industrial clients pan India.
The startup claims to have a strong portfolio of executing over 300MW EPC work orders and planning for a 500MW Solar Park.
Last year, InSolare announced the completion of a 70 MWp Solar Park in Jalna, Maharashtra.
Neil Bahal, Founder and CEO of Negen Capital, stated, "We believe in the invertibility of Insolare's technology-driven approach and its potential to revolutionize the renewable energy sector. This partnership aligns with our commitment to supporting innovative companies that are driving positive change and sustainability."
