ZunRoof Bags INR 20 Cr To Offer Rooftop Solar Solutions

Rooftop solar solutions startup ZunRoof has raised INR 20 Cr (nearly $2.3 Mn) in a funding round led by the Godrej family office, ANBG Enterprise LLP. The round also saw participation from angel investor Ravindernath Chadha.

As per its regulatory filings with the Registrar of Companies (RoC), ZunRoof’s board recently passed a resolution to issue 75,960 equity shares at an issue price of INR 2,638 per share.

The development was first reported by Entrackr.

Founded in 2016 by IIT Kharagpur alumni Pranesh Chaudhary and Sushant Sachan, ZunRoof specialises in solar rooftop design, installation, and management using technologies such as AI and virtual reality (VR). The startup also offers IoT devices for power usage monitoring through a companion app.

Prior to the current fundraise, the startup had raised $3 Mn in its Series A funding round from Godrej’s investment arm, Godrej Investment Office. ZunRoof had also raised $1.2 Mn from Godrej in its Pre-series A round in April 2021. 

The development comes at a time when growing demand and adoption of green energy is fuelling the rise of new cleantech startups in the country. More than a half a dozen startups were funded this year in the cleantech sector. 

Earlier this month, rooftop solar solutions startup SolarSquare raised $40 Mn (about INR 340 Cr) in its Series B funding round led by Lightspeed. 

In September, cleantech startup Exposome bagged INR 15 Cr in its Pre-Series A funding round led by Colossa Ventures. In August, Kazam raised $8 Mn in its Series A3 funding round led by Vertex Ventures Southeast Asia and India.

In May, EcoRatings, a cleantech startup, secured $1 Mn (INR 8.3 Cr) in its Pre-Seed round in a combination of equity and grants from the likes of We Founder Circle, 888 VC, Vinners, Indigram Labs Foundation, and Google.