Soleos Solar Energy raises $12M led by GVFL
The newly raised capital will be used to expand the company’s development pipeline, funding construction across priority geographies, strengthening investor governance systems, and scaling energy models.
Renewable energy company Soleos Solar on Thursday said it raised $12 million in a funding round led by GVFL, which saw the venture capital firm investing $2.5 million in the company.
The round also saw participation from financial services conglomerate Tipsons Group, Navin Dalmia, and select family offices, along with commitments from other existing investors.
According to the company, the newly raised capital will be used to expand its development pipeline fund construction across priority geographies, strengthen investor governance systems, scale group-captive and consumer-led energy models, and build integrated solar and storage capability.
The company has also begun manufacturing in-house battery energy storage systems, with the latest fundraise expected to support its transition from a solar execution specialist to becoming a renewable solutions provider.
Soleos, founded in 2017, operates a platform that combines project development, consumer sourcing, investor onboarding, capital structuring, EPC (Engineering, Procurement, and Construction) delivery and long-term asset management under a single system.
The firm has delivered projects in India, Ghana, Uganda, and Portugal, including the development of solar parks, smart city programmes, and building a portfolio of consumer-led energy solutions.
“From the beginning, our mission has been to bridge both the energy gap and the investment gap through reliable, investor-grade renewable infrastructure. This successful fundraise strengthens our ability to build ready-to-deploy assets, expand our consumer and investor networks, and accelerate our move into round-the-clock renewable capability. The participation of GVFL and other premier investors is an important validation of our approach and long-term institutional focus,” said Bhavesh Rathod, Founder of Soleos.
The company plans to expand its footprint across India and selected international markets over the next year. It is also targeting to build storage-led, grid-supportive solutions that will support peak demand management and commercially efficient renewable supply.
Edited by Jyoti Narayan