Hyderabad, April 21, 2021: Freyr Energy today 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 is using technology to change the way homeowners and MSME’s transition to solar.
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 by C4D Partners in Freyr Energy, 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.
About Total Carbon Neutrality Ventures:
Total Carbon Neutrality Ventures is the venture capital arm of Total, the global energy company. As part of Total’s commitment to a better energy future, Total Carbon Neutrality Ventures is focused on finding, funding and fostering high-potential start-ups that contribute to creating a low carbon future. Their current investment focus areas include Renewables, Distributed Energy, New Mobility, Energy Access, Energy Storage, Bioplastics, Circular Economy and Recycling. More information at https://www.ventures.total/en.
SEEAA is a 20.9M€ impact investment vehicle funded by Schneider Electric, Norfund, EDFI ElectriFI and Amundi dedicated to investing in start-ups that work towards increasing quality of life and boosting economic development in Asia. The target of SEEAA is to make investments that demonstrates: 1) contribution to the Sustainable Development Goal 7 in Asia Pacific, (2) growth potential and financial viability and, (3) clear governance and adherence to ESG criteria. Know more at: https://www.se.com/ww/en/about-us/sustainability/access-to-energy/
About C4D Partners:
Capital 4 Development Partners (C4D Partners) invests in promising, scalable, impactful small and medium enterprises, primarily in India and Indonesia. C4D Partners believes that fair economic development contributes to economic inclusion and the improvement of people’s perspectives. C4D Through investments, C4D aims for social and financial return optimization with the goal to fight poverty and social injustice. Know more at: https://www.c4dpartners.com/about-us
About Freyr Energy:
Freyr Energy was founded in 2014, with a goal of providing world class solar solutions to homeowners and businesses. Freyr Energy caters to residential and MSME sectors and has customers in 22 states in the country.
Know More at: https://freyrenergy.com/about-us/
About SunPro+: https://freyrenergy.com/sunproplus/
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