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Infuse Ventures, a sustainability and clean tech fund backed by IIMA's Centre for Innovation, Incubation and Entrepreneurship, New & Renewable Energy Ministry, Telecom Development Board, IFC, BP, Godrej Industries, ICICI Bank, Sidbi, BoI and Union Bank have made an undisclosed seed investment in Ahmedabad-based online solar products and services marketplace startup ezysolare.com.
Founded in April this year by IIT Roorkee graduate Puneet Singh Jaggi and his brother Anmol Singh Jaggi, ezysolare.com provides an online platform for engineering and procurement for equipment used to build solar power projects, thus connecting solar installers with manufacturers of solar equipment. The startup concentrates on rooftop solar market to begin with.
Ezysolare.com wants to make it easy for people to go solar with the aim of becoming the back office for every solar installer and installation. In the market, ezysolare.com expects to touch Rs 35,000 crore annually in the next two years if government's target of 40 GW of solar rooftop by 2022 is to be achieved. The company believes that although huge growth is expected in the solar rooftop market, it still remains fragmented, non-standardized and often opaque in nature, which makes it ripe for disruption.
Ezysolare.com intends to be the neutral platform of choice for both customers looking to get solar installed and for installers looking for more support on engineering and procurement, by providing efficiency, credibility and transparency.
"The online platform approach that 'ezysolare. com' has taken is a great way to address the pain points of the solar installers, from getting customer leads to designing of solar plants to procurement of equipment. Even by conservative estimates, the country has over 1000 number of solar installers today, implementing over Rs 1500 crore worth of solar rooftop projects annually, who can already use ezysolare's services, and the market is fast expanding," said Amber Maheshwari, vice president, Infuse Ventures.
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