IAN Fund backs Nocca Robotics
Pune-based Nocca Robotics has raised Rs 12.4 crore in a funding round led by early stage investor IAN Fund.
Angel investors from the Indian Angel Network also participated in the round, a statement from the startup said.
Nocca Robotics will use the funds to set up a manufacturing facility for robots with improved quality control. The company will also use the funding to bolster its research and development and strengthen the production team.
Nocca Robotics was founded in April 2017 by IIT Kanpur graduates Harshit Rathore and Nikhil Kurele.
The startup leverages technologies like artificial intelligence (AI), machine learning (ML), deep learning and robotics to provide automated, waterless and shareable solar panel cleaning solution for utility-scale solar parks.
Through this solution, Nocca is aiming to address the sustainability challenge of solar energy operations. Cleaning solar panels are not only expensive but also comes with high environmental costs.
The company is also planning to launch a robot dedicated to clean rooftop solar panel installations. The proposed manufacturing facility will cater to 1GW of solar power per year.
“Our waterless and shareable robotic solar panel cleaning solution enables plant owners to operate at peak efficiency while generating attractive ROIs by curbing unnecessary spends on manual cleaning and increasing the power generation,” said Rathore, chief technology officer, Nocca Robotics.
“Nocca Robotics is an innovative, tech-based unique solution which will address the auxiliary challenges associated with solar energy operations. IAN Fund is confident of the venture’s potential to achieve exponential growth and scale, and is committed to helping it drive unparalleled disruption in India and abroad in its chosen market segment,” said Saurabh Srivastava, controlling & designated partner, IAN Fund.