Solar Ladder, a startup that serves in the B2B space in the energy and environment technology sector, has bagged Rs 11 crore in its recent seed funding round. The funding was raised from firms which include Axilor Ventures, Titan Capital, DevVC, Stride Ventures and angel investors including Atha Group, NIPHA group, Varun Alagh – Founder, Mamaearth – Subin Mitra and Aditya Bandi, Groyyo and Deepak Jain, Partner Bain and Co.
Commenting on this, Manan Mehta, co-founder, Solar Ladder, said, “We aim to facilitate faster scaling of solar installers by providing them with appropriate financial, procurement, and software tools.”
Prachi Sinha, principal, Axilor Ventures said, “Solar Ladder is building a digital flywheel in one of the fastest growing sectors in the economy, globally.”
She further added, “The India opportunity alone in residential and commercial solar installations is well above $50 billion. We are confident in the founding team to scale the company as a key enabler, bringing procurement transparency and credit availability in a highly fragmented and broken supply chain.
The Mumbai based startup was founded in 2021 by Abhishek Pillai, Farhan Ahmed, and Manan Mehta. The platform offers to focus on providing cost effective and sustainable energy solutions to rural and remote areas. Solar Ladder has been working towards bring reliable and affordable energy access to millions of people living off the grid in India.
According to its official press release, Solar Ladder stated, “The funds will be used to distribute software that automates processes for solar installers, allowing them to expand their business 10-fold and aims to become the go-to ecosystem for solar installation companies.”
The company further added, “Solar Ladder aims to establish a robust marketplace that enables cheaper procurement, provides short term embedded credit and insurance products to meet installers working capital requirements and offers long term financing options for end customers of solar installers.
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