ZunRoof raises Rs 16.6 million in the second round of angel funding

ZunRoof, an Indian solar rooftop start-up, has raised an amount of Rs 16.6 million in the second round of angel funding from the I3N (intellecap impact investment network). The funding was led by representatives from the Asian Development Bank, L’Oreal (UK & Ireland), Paipal Ventures, Dalberg Advisors and a group of IIT Kharagpur alumni based in the US. According to ZunRoof, the company’s sales run rate is approximately Rs 411.6 million and the funds raised in this round will be deployed to triple the sales in a 12-month time frame. In addition, part of the funds will be used to scale up technology, especially the internet of things (IOT)-based sense and monitoring devices developed by the company.

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