Zunroof, a startup providing solar rooftop solutions received $3million as funding in a Series-A funding round from the Godrej investment office. Last year also Zunroof received funding from the same investors.
The company provides rooftop solutions in unutilized rooftops and provides control of every appliance in one’s house through hardware enabled by the Internet of Things (IoT) and accompanying apps.
With the new funding received by Zunroof, it aims to expand its overall business and reach around 1 million homeowners and a pan for the next five years will be ready with how to utilize the funds correctly.
“This investment will fuel our aim to put solar on the roofs of 1 million home-owners in the next five years and bring a taste of IoT to these customers,” said the Chief Executive Officer of the company.
The company was founded in 2016 by two IIT Kharagpur graduates- Sushant Sachan https://www.linkedin.com/in/sushant-sachan-82284a4/ and Pranesh Chaudhary https://www.linkedin.com/in/sushant-sachan-82284a4/ with a vision of making our country become more solar and environmentally friendly.
So far, the company has successfully designed more than 30,000 rooftop solar systems in 70 different cities across the nation and has managed over 2,50,000 homes in managing rooftop solar systems. It has installed more than 15 megawatts of rooftop solar as well as over 50,000 IoT devices.
“The young dynamic team at ZunRoof has in short time carved out a leadership position in the solar rooftop space and has also identified other exciting growth opportunities,” explained Pirojsha Godrej who invested in Zunroof startup.
After this funding round, Zooftop plans to resolve the affordability problem which was becoming a hurdle in installing solar rooftops. Soon the service provided by the company will work on its efficiency and affordability which will help the customers to reduce their electricity bills.
So far the company have registered year on year growth that varied between 300 and 400 per cent, now the company is aiming to expand it and reach to the growth of completing 500 per cent by expanding its product portfolio. The next quarter of this year, the company is planning to launch some new reliable products for its customers.