Gurugram-based smart energy solutions startup ZunRoof has raised $3 million in Series A round of funding from Godrej Investment Office.
According to a statement released by the startup, ZunRoof aims to resolve the affordability issue of solar rooftops in Indian homes. It will soon launch its service to improve the affordability of solar rooftops, which will save money and electricity for over 25 years.
Commenting on the investment, Founder and CEO of ZunRoof, Pranesh Chaudhary said,
“This investment will fuel our aim to put solar on the roofs of 1 million homeowners in the next five years and bring a taste of IoT to these customers. The perfect timing of the funding will help us hire and retain the best talent. Our 150+ employee strength already comprises alumni from India’s most premium companies and institutes including IITs and IIMs.”
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.
This is the second round of investment by Godrej in ZunRoof. It had invested $1.2 million in the startup in a Pre-Series A round in April last year.
Pirojsha Godrej, Executive Chairman, Godrej Properties, said,
“We are excited to increase our commitment to ZunRoof. The young dynamic team at ZunRoof has in short time carved out a leadership position in the solar rooftop space and has also identified other exciting growth opportunities. We are confident they will continue to build on this success in the years ahead and we are thrilled to be a part of their journey.”
The home-tech startup 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 US.
(Edited by Saheli Sen Gupta)