Solavio Labs raises funding from Canadian province New Brunswick
Coimbatore: Solavio Labs, a clean-technology startup focused on the solar panel cleaning industry, has raised funding from Canadian province New Brunswick, it said on Friday.
Coimbatore-based Solavio Labs has raised Rs 40.6 lakh from the province, taking the total capital it has raised to Rs 2 crore (around $275,774).
Through this latest fundraise, the company will expand to the West Asian and North American markets, as well as scale its manufacturing capabilities in India through the production of 12,000 units by the end of the next financial year.
Solavio Labs, operated by Solavio Labs Pvt Ltd, was set up by Suraj Mohan and Prashant Goel. The company says it is developing artificial intelligence-based solutions to enable autonomous solar panel cleaning.