Infuse Ventures, a sustainability and clean technology fund backed by IIMA, CIIE, Government of India’s Ministry of New and others has announced an undisclosed amount of seed investment into Ahmedabad-based online solar products and services marketplace startup ezysolare.com. The company will use the funding to further develop technology and expand its reach amongst vendors, users and delivery across the country. GoSolar Ventures Pvt. Ltd. which runs the portal and received the investment, was founded in April 2015 and has just launched its ecommerce portal www.solarkart.ezysolare.com which has over 45 suppliers and 500 products listed.
Founded by the Jaggi brothers - Anmol Singh Jaggi & Puneet Singh Jaggi, ezysolare.com provides an online platform for engineering and procurement for the equipment used to build solar power projects, thus connecting solar installers with the manufacturers of solar equipments. The company is concentrating on rooftop solar market to begin with.
The market size for solar installations in India is expected to touch 35,000 Cr annually if government’s target of 40 GW of solar rooftop by 2022 is to be achieved. The founders believe that the solar segment is huge but highly fragmented, non-standardized and often opaque. Ezysolare.com intends to be the neutral platform of choice for both customers looking to get solar installed and for installers looking for more support on engineering and procurement.
An alumnus of IIT Roorkee, Puneet has led consulting services at Gensol (India’s largest solar advisory firm) in the past and consequently has developed expertise in advising and designing for 2GW of solar projects in India. Puneet says, “There are a lot of online marketplaces in India. None of them, however, integrate system design & engineering guidance as a part of the buying journey like we do at our online solar marketplace."
“The online platform approach that ‘ezysolare.com’ has taken is a great way to address the pain points of the solar installers from getting customer leads to designing of solar plants to procurement of equipments. Even by conservative estimates, the country has over 1000 number of solar installers today, implementing over Rs. 1500 Cr worth of solar rooftop projects annually, who can already use ezysolare’s services, and the market is fast expanding”, said Amber Maheshwari, Vice President, Infuse Ventures.
IIMA-CIIE’s fund Infuse has been investing actively in the cleantech sector and its investments includes energy-management startup Ecolibrium Energy, Geothermal HVAC focussed startup GIBSS, thermal-energy storage startup Tessol, renewable energy services startup REConnect, solar-pumping startup SuryaPowerMagic and an industrial biochemicals startup Proklean among others. In the field of solar, India is seeing a healthy crop of technology based startups coming up which can bring out a positive change in the nation.