Mumbai-based rooftop solar platform, Oorjan has raised $450,000 in seed funding led by Globevestor.
The funding round also saw participations from a group of senior directors in banks and financial services companies, including Sayandev Chakravartti, Aditya Sharma, Nisha Pillai and Mayur Bhat.
The startup will use the funds to scale operations, augment sales efforts, and further build its technology advantage, reports Business World.
Founded by Roli Gupta and Gautam Das in 2014, Oorjan is a team that hails from IIT Bombay, Stanford, Berkeley and ISB, and has over 40+ years of experience at Areva Solar, Citigroup, Schlumberger and OpenTable. Oorjan was also selected among the top-10 women-led startups last year by the Anita Borg Foundation and Government of India.
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The company already has operations in 4 cities, namely Mumbai, Pune, Bengaluru, and Chennai, has completed around 70 projects till date, and estimates revenues for 2017-18 at Rs 15 crores.
A customer just needs to connect with Oorjan, and they take care of the design, installation, financing, approvals, ongoing monitoring and maintenance of the solar system.
“The current fundraise will enable us to invest in making the customer experience seamless. We’re building a core technology moat across lead generation, pre-sales experience, smart CRM and engagement, as well as in leveraging solar data at scale,” said Roli Gupta.
Globevestor, Inc. was founded in 2013 and is based in San Mateo, California, which operates a hybrid of micro-funds and an online platform to invest in startups in the US and India.
It provides an end-to-end solution for cross-border early stage investments for investors and startups; and allows investors to browse startup deals, interact with founding teams, take investment decisions, e-sign legal documents, make payments, and keep connected with their portfolio companies.
Some of its investments include self-drive car rental startup Zoomcar, ed-tech firm Flintobox, test preparation platform OnlineTyari, financial products marketplace Rubique Finance, and ed-tech startup Springboard to name a few.