Mumbai based kWatt Solutions Pvt. Ltd. (kSPL), which working towards economizing renewables, has raised worth $500 K funding from a real estate house in Indore.
The proceeds will be utilized towards team building, enhancing business and expanding exponentially in the verticals.
Started in 2013 by Chetan Solanki, kWatt Solutions is a company incubated in Society for Innovation and Entrepreneurship (SINE) at the renowned institute, Indian Institute of Technology (IIT) Bombay. The company, which engaged in providing inimitable products and services to congregate the needs of nation in bridging the electricity deficit, has now grown into six verticals capturing the length and breadth of the domains in the field of solar energy.
Currently, kSPL has six verticals in sync with its vision; S-Park, S-Life, S-SparQ, S-Entrepreneur, S-Rooftop and S-Lab. Using S-Park, one can ‘own’ and ‘invest’ in a solar power plant. In addition to these, kSPL has also developed a range of low cost solar battery chargers under the banner “battery solarizer”.
Applied Solar Technologies, a Delhi based solar power company has raised R256.36 Cr ($40 Mn) in a new round of funding led by Australian government’s sovereign wealth fund Future Fund, alongwith existing investors Bessemer Venture, Capricorn Investment and IFC.
UTI Ventures Funds Management Company Private Limited, the private equity investment subsidiary of UTI Asset Management Co Pvt Ltd, has sold its stake in Ascent Capital Pvt Ltd to the management of the firm, which is headed by Raja Kumar.