Gurugram-based rooftop solar energy startup ZunRoof has raised an undisclosed amount in its third round of angel funding from angel investors Ramakant Sharma, Founder of Livspace as well as Arun Diaz of IntelleGrow. Existing investors Pradeep Tharakan, Gaurav Gupta, Vismay Sharma and others also participated in the funding round.
In a press release statement, Pranesh Chaudhary, founder and CEO of ZunRoof, said, “This funding round comes at the exact right time for us as we are at a clear inflexion point to grow at unheard-of speed in solar rooftops. We have a very potent and unique mix of VR, ML and image processing backing our operations which has led us to already the highest number of solar rooftops in India and we aim to build on this lead further.”
Earlier in June 2018, the startup raised ₹1.66 crores from Paipal Ventures’ Ajith Pai, Dalbergr’s Asia Director Gaurav Gupta, i3N and a clutch of angel investors from the United States. Prior to that in December 2016, ZunRoof raised ₹49 lakhs in seed round from executives of Morgan Stanley, FICO and Facebook.
Ajith Pai, Partner, Paipal Ventures, said, “ZunRoof today has used technology in VR and image processing to break down the usual barriers to adoption of Roof Top Solar. I continue to be impressed with what they achieved in the short period of time since invested back in April 2018. My repeat investment in the second round of funding is an affirmation of my belief in their tech prowess, their business plan, their company and their team. I have no doubt that this is one investment that will pay off.”
Founded by Kartik Marwah, Pranesh Chaudhary and Sushant Sachan in June 2016, the startup designs and delivers the right Solar PhotoVoltaic (PV) solution for urban homeowners in Delhi (NCR). It installs solar PV systems on rooftops to produce and sell electricity to the grid.
The company also provides elevated structures if you do not want to spare any part of your roof. ZunRoof has developed proprietary tools, which help it to come up with accurate size and design of the system as well as all techno-economic feasibility metrics of the roof within minutes.