MYSUN Raises ₹320 Million For Rooftop Tech Platform

In Clean Fund, News, Products, Renewable Energy, Technology
MYSUN

Delhi-based technology platform for rooftop solar energy solutions, MYSUN has raised ₹320 million (~$4.2 million) from its existing investors in a structured equity deal. This is a part of its pre-series A round.

The company’s pre-A series has a target of raising $10 million (₹751million), and the amount of $4.2 million (₹320 million) raised recently is a part of the target.

As the company plans to venture into new markets and business models to step up its technology, it is also looking to raise another ₹2.5 billion (~$35 million) over the next few quarters.

According to the company statement, MYSUN is planning to use the capital to further improve its technology infrastructure, scale up the service offerings, and expand to new locations, both in India and across the world, including parts of the Middle East, Asia Pacific, and Africa.

As the energy landscape, as well as the overall economic landscape, is changing rapidly due to the recent global events, thye foresee higher and higher demand for independent solar energy systems across the B2B and B2C consumer segments around the globe over the next many years.

With its innovative technology, business model, and a highly experienced team, MYSUN is well placed to leverage this demand into a sustainable growth business.

With this new investment, MYSUN will also foray deeper into its in-house SMEs financing solutions. The company aims to cater to the unique solar financing needs of SMEs as well as that of individuals, making solar ownership a hassle-free experience.

Reference- Mercom India, MYSUN PR & website, Economic Times

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