Freyr Energy raises INR 18 crore in equity funding

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Freyr Energy 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 uses technology to change the way homeowners and MSME’s transit to solar system.

A few months ago, Freyr Energy launched its revolutionary 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.

Florian Temime, Principal, Total Carbon Neutrality Ventures (the venture capital arm of Total) commented “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.”

Gilles Vermot Desroches, President of SEEA Asia and SVP at Schneider Electric also believes that “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, Arvind, Partner, C4D Partners commented “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.