Smart energy solutions provider ZunRoof has raised $1.2 million (Rs 8.3 crore) in a pre-Series A round of funding from the family office of business conglomerate the Godrej Group.
The company will use the fresh capital for expansion and to further strengthen its product portfolio, it said in a statement.
Founded by IIT Kharagpur alumni Pranesh Chaudhary and Sushant Sachan, ZunRoof specialises in solar rooftop design, installation, and management using technology. The company uses computer vision, artificial intelligence and virtual reality to streamline the solar rooftop installation and maintenance for homeowners.
Users can place requests for rooftop installations on the ZunRoof mobile app or website upon which its engineers visit the location who will estimate the amount of electricity that can be generated and will provide an optimum design for maximum power generation. Once the design is finalised, the startup will gather a list of price quotations from its network of vendors listed on the platform. Customers can opt for the vendor and then the solar panels will be installed.
"Our pre-Series A and backing from Pirojsha Godrej comes at the perfect time - allows us to hire and retain great talent, scale solar rooftop operations across India and launch our home-IoT products,” co-founder Chaudhary, who is also the startup's chief executive, said in the statement.
The mobile app allows potential clients to visualise their site for installation of the rooftop solar system, make analysis of their bills and confirm their order. It also allows its customers to control and modify their solar usage.
The company claims to be the market leader for residential solar rooftops with presence in over 40 cities including Delhi, Chandigarh, Lucknow, and Bengaluru. As per the company, it has designed solar rooftops for over 10,000 residential houses.
ZunRoof 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, managing director at L’Oréal, UK & Ireland; Ajith Pai of Paipal Ventures; Arun Diaz of IntelleGrow and a group of IIT Kharagpur alumni based in the US.
"We are delighted to support ZunRoof's exciting plans in the home IoT and solar rooftop spaces. The founders' exciting vision combined with the passion, knowledge and the leadership they've demonstrated in the space makes us very excited to be a part of their journey," Pirojsha Godrej, executive chairman, Godrej Properties, said.
Owned and operated by ZunRoof Tech Private Limited, ZunRoof currently serves customers in more than 40 cities.