Ellipsol, a solar energy company, raised Rs 2.5 crore in a seed funding round that was headed by Capital A. The Grand Anicut Fund and other investors took part in the funding round as well.
According to a press release from Ellipsol, the money will be used to expand capacity, develop pilot projects, and move the prototype into production.
Samarth Jain and Kaustubh Tyagi co-founded Ellipsol in 2022 with the goal of doubling the energy output of standard photovoltaic panels. By providing precise control over the amount of solar radiation falling on the installed solar panels, Ellipsol has developed a patented technology that enables users to harness 100% more energy from them.
The Gurugram-based company claims that by utilizing essential technologies to increase green power generation and storage, it offers clean, green energy to its end customers at a reasonable cost. It addresses the issue of increasing pollution levels and their detrimental effects on our lives and the environment.
A number of solar technology companies, including Aerem, SolarLadder, and SolarSquare, have raised money over the past 12 months. In the same market as Zunroof are Cleantech, Mysun, Oorjan, and Loom Solar.
