Rooftop Solar Startup ZunRoof Secures INR 20 Cr From Godrej

Rooftop solar startup Zunroof has raised ₹20 crore (around $2.3 million) from ANBG Enterprise LLP (Godrej Family Office) and a small contribution from Ravindernath Chadha.

According to regulatory filings, the company issued 75,960 equity shares at ₹2,638 each to secure the funding.

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This investment shows Godrej's commitment to sustainable energy and growing its green technology portfolio. With this funding the solar firm's total raised capital has surpassed $9 million since its launch. Godrej which already holding a 51% stake, is expected to increase its majority ownership and gain more control over Zunroof's assets.

ZunRoof recently shared its FY24 results, showing a 51.7% reduction in losses, but its revenue dropped by 11.46% to ₹29.84 crore for the year ending March 2024. The company competes with SolarSquare, Cleantech, Mysun, Oorjan, and Freyr Energy. While solar startups have faced limited funding in recent years, the sector is seeing renewed interest, with major investments like $40 million for SolarSquare, $30 million for Glow, and $8 million for InSolare.

About ZunRoof

Gurugram-based ZunRoof was founded in 2016 by IIT Kharagpur alumni Pranesh Chaudhary and Sushant Sachan; it focuses on designing, installing, and managing solar rooftops using AI and virtual reality (VR). It also provides IoT devices with a companion app to monitor power usage.

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