Solar Ladder, a supply chain platform for solar installation companies, has raised Rs 11 crore in seed funding from Axilor Ventures, Titan Capital, DeVC, Stride Ventures, and angels from Atha Group, NIPHA group, Varun Alagh (Founder, Mamaearth), Subin Mitra and Aditya Bandi of Groyyo, Deepak Jain (Partner, Bain and Co.) among others.
The funds will be utilized to distribute software that automates processes for solar installers, allowing them to expand their business tenfold and aims to become the go-to ecosystem for solar installation companies, the company said in a press release.
Solar Ladder is a full-stack supply chain platform helping solar Installation companies to deploy rooftop solar faster. The company’s SaaS tool provides end-to-end, sales-to-project management to operations and maintenance resources to solar installation companies looking to grow their business. Its procurement layer assists with the acquisition of solar modules, inverters, structures, balance of system, and other necessary materials while the financing layer offers both short-term and long-term loans for end customers.
Founded by Manan Mehta, Abhishek Pillai and Farhan Ahmed, Solar Ladder claims to have achieved profitability while being bootstrapped. The company said that it has over 250 customers, including major players such as Mahindra Solarize and Fourth Partner Energy.
According to recent reports, India’s potential for rooftop solar is estimated at 200 GW. In FY22, the country added 1.7 gigawatt (GW) of rooftop solar capacity. Elevation Capital-backed SolarSquare and Blume Ventures-backed Aerem also work in the same domain.