A solar startup based in Hyderabad, Freyr Energy, on Monday secured Rs 58 crore (USD 7 million) in a funding round. The investment was led by EDFI ElectriFI and included participation from other investors such as Schneider Electric Energy Asia Fund, Lotus Capital, Maybright Ventures and VT Capital.
This brings Freyr Energy’s total funding to USD 10.5 million. The company is focused on empowering Indian retail customers by helping them transition to solar energy. They have developed a digital platform called SunPro+ App that simplifies the entire process of exploring and owning a solar system.
In April 2021, Freyr Energy also raised Rs 18 crore in equity investment from Total Carbon Neutrality Ventures, Schneider Electric Energy Access Asia, and C4D Partners.
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