Solar Ladder secures Rs 110 million in seed funding round

Solar Ladder, a Mumbai based comprehensive supply chain platform for solar installation companies received an initial fundraising round of Rs 110 million. According to the company, the raised capital will be deployed to distribute software that automates processes for solar installers, allowing them to scale up their business.

Furthermore, Solar Ladder aims to build a strong marketplace that enables lower-cost procurement, offers short-term embedded credit and insurance products to meet installers’ working capital needs, and provides long-term financing options for solar installers’ end customers.

Recently, Navitas Solar, based in Gujarat received $5 million in financing which will be used by the company to enhance its manufacturing capacity by 1.2 GW. A group of high-net-worth individuals advised by RSM-Lemon Consultech participated in the investment round. The promoters of Parishi Diamond Group functioned as the anchor investor in the round, contributing more than 50 per cent of the overall capital. The funding round was also attended by Lemon Emerging Ventures LLP and other investors.