Soleos Solar Energy secures Rs 48.5 crore funding

Soleos Solar Energy on Wednesday said it has secured Rs 48.5 crore in funding, which will be utilised as working capital and renewable energy portfolio development. India Ahead Venture Fund, Sunil Singhania's family office, Madhuri Madhu Kela, Nabs Vriddhi, Pawan Agarwal, Head of PCG at InCred Capital, Faruk G Patel - CMD (KP Group) and several other HNI investors participated in the funding round, Soleos Solar Energy said in a statement.

The fund infusion will help the company in generating its working capital, global renewable energy portfolio development and establishing manufacturing facilities across the globe, it added.

The company holds Rs 450 crore orders in hand for setting up approximately 140 MW projects.

Soleos Solar Energy Pvt Ltd is an EPC service provider in the solar energy sector.

Bhavesh Rathod, founder and Director of Soleos Solar Energy, said, "This funding will enable us to achieve our expansion goals and bolster our capabilities in delivering cutting-edge solar solutions. This investment will further strengthen our foothold in domestic and international markets".