[Funding alert] Godrej invests $1.2M in home-tech startup ZunRoof
Gurgaon-based smart energy solutions provider ZunRoof announced that it has raised $1.2 million in its pre-Series A round from Godrej. The company plans to utilise the fresh capital for expansion and further strengthen its product portfolio.
Pranesh Chaudhary, Founder & CEO, ZunRoof, said,
"Our pre-Series A and backing from Pirojsha Godrej comes at the perfect time - allows us to hire and retain great talent, scale solar rooftop operations across India and launch our home-IOT products."
ZunRoof designed solar rooftops for over 10,000 residential houses. The company had earlier raised funding from investors Ramakant Sharma, Founder of Livspace; Gaurav Gupta, Asia Director, Dalberg Advisors; Pradeep Tharakan, a senior energy specialist at Asian Development Bank (ADB); Vismay Sharma, MD at L’Oréal (UK & Ireland); Ajith Pai, Paipal Ventures, and Arun Diaz of IntelleGrow, and a group of IIT Kharagpur alumni based in the U.S.
Pirojsha Godrej, Executive Chairman, Godrej Properties, said,
"We are delighted to support ZunRoof's exciting plans in the home IOT and solar rooftop spaces. The Founders' exciting vision combined with the passion, knowledge and the leadership they've demonstrated in the space makes us very excited to be a part of their journey."
Founded in 2016 by Pranesh Chaudhary and Sushant Sachan, ZunRoof specialises in solar rooftop design, installation, and management using technology. It uses computer vision, AI and VR to streamline the solar rooftop installation and maintenance for homeowners.
The company helps customers reduce their electricity bills by using their unutilised rooftops for solar power generation, providing sense and control of every appliance in the house. ZunRoof also offers an app for customers to control and modify solar usage.
It recently expanded to Chennai, Bengaluru and Coimbatore, and serves customers in more than 40 cities, including Delhi-NCR, Chandigarh, Lucknow, Kanpur, Agra, Jaipur, Haridwar, Ludhiana, and Jalandhar.
ZunRoof said that it is working towards the fulfilment of the government's target of achieving 40 GW by 2022 for rooftop solar.
Also Read: What’s the future of smart home technology?