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Last year, the Hyderabad-based company raised start-up financing from Doen-Participaties, another Dutch-based investment firm that has a proven track record of investing in the market. investment in sustainable start-ups.
"Freyr Energy is determined to leverage its technology platform to accelerate the growth of decentralized solar energy in India and the world's leading solar energy markets. The funds raised will be used to continue to improve our technology platform, strengthen the strength of our network of sales and marketing partners, and support our marketing activities to support future growth, "said co-founder Saurabh Marda. of Freyr Energy.
The company's goal is to make solar energy more accessible to homeowners, businesses and communities around the world. Freyr Energy designs systems that are specific to the customer's energy needs, the availability of areas, the availability of alternative energy sources, local solar radiation, and more. Its technology platform, SunPro, captures these details and designs a customized system for each customer and site.
The company has reported a growth of 16 times its turnover over the last four years and has been profitable for two years. Freyr Energy currently has more than 1,000 installations in 18 states in India and a customer base in the United States, Nigeria and Ghana.
Arvind Agarwal, CEO of C4D, said, "The financial support provided by C4D Partners will help Freyr Energy create more than 2,000 direct jobs and support more than 400 micro-entrepreneurs over the next five years. Freyr has a strong technology platform to evolve its business and reach a wider customer base in India and internationally. We will continue to invest in Fryer in future rounds to create synergies with other portfolio companies globally. "
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