Freyr Energy has announced an equity investment of INR 18 Cr from Total Carbon Neutrality Ventures, Schneider Electric Energy Access Asia and C4D Partners. Freyr Energy is one of India’s leading solar rooftop companies that is using technology to change the way homeowners and MSME’s transition to solar.
Freyr Energy was founded in 2014, with a goal of providing world class solar solutions to homeowners and businesses. Freyr Energy caters to residential and MSME sectors and has customers in 22 states in the country.
A few months ago, Freyr Energy launched its customer App – SunPro+. With SunPro+, the whole process of owning a solar system is simple and seamless. Funds raised in this round will be used to accelerate growth and further enhance customer experience.
“Freyr Energy has fully digitalized the customer journey thanks to its proprietary software environment SunPro+. We are convinced that this innovative software will ease the acquisition of rooftop solar customers and facilitate the entire customer journey from acquisition through to financing, execution and after sales service. We see SunPro+ as a key success factor for Freyr’s development,” said Florian Temime, Principal, Total Carbon Neutrality Ventures (the venture capital arm of Total).
Gilles Vermot Desroches, President of SEEA Asia and SVP at Schneider Electric, added, “Through the innovative and scalable SunPro+ solution, Freyr Energy can contribute to mass-market adoption of solar energy, generating significant environmental impact while creating employment opportunities within their network of vendors.”
Commenting on the follow-on investment by C4D Partners in Freyr Energy, Arvind, Partner, C4D Partners said, “Through their technology, Freyr Energy has the potential to change how rooftop solar is sold and managed in India and other countries. Freyr Energy could bring much-needed consolidation in the sector”.
“Along with our existing investor C4D Partners, strategic investors like Total Carbon Neutrality Ventures and Schneider Electric Energy Access Asia provide us not only capital but global experience in the energy sector”, said Saurabh Marda, Managing Director of Freyr Energy.