Solar company Ellipsol has raised Rs 2.5 crore in a seed funding round led by Capital A. The funding round also saw participation of the Grand Anicut Fund and other investors.
The proceeds will be utilised to take the prototype to the production level, develop pilot projects, and expand capacities, Ellipsol said in a press release.
Co-founded in 2022 by Samarth Jain and Kaustubh Tyagi, Ellipsol develops a retrofittable solution to double the energy yield of conventional photovoltaic panels. Ellipsol has come up with a patented technology that enables users to harness 100% more energy from the installed solar panels by ensuring precise control over the amount of solar radiation falling on them.
According to the Gurugram-based company, it provides clean and green energy to its end customers at an affordable price by applying critical technologies to generate more green power and at the same time store more green power. It tackles the problem of rising pollution levels and their adverse effect on our lives and climate.
In the past 12 months, a clutch of solar tech companies including Aerem, SolarLadder and SolarSquare have raised funds. Zunroof, Cleantech, Mysun, Oorjan, Loom Solar also compete in the space.
