Solar Ladder raises Rs 11 crore in seed funding round
Axilor Ventures, Titan Capital, DeVC, Stride Ventures, and angel investors provided Rs 11 crore in seed funding to Solar Ladder, a solar supply chain startup based in Mumbai. The business, which was established in 2021, is a full-stack supply chain platform that aids solar installation companies in hastening the deployment of rooftop solar.
The money will be used to deploy software that automates procedures for solar installers, enabling them to increase their businesses tenfold, and aiming to become the go-to ecosystem for solar installation businesses, according to the official press release. Atha Group, NIPHA Group, Varun Alagh, the founder of Mamaearth, Subin Mitra, and Aditya Bandi of Groyyo, as well as Deepak Jain, a partner at Bain and Company, were among the angel investors in the investment round.
"Solar Ladder aims to establish a robust marketplace that... enables cheaper procurement, provides short-term embedded credit and insurance products to meet installers' working capital requirements, and offers long-term financing options for end customers of solar installers," it continued.
SaaS, procurement, financing, and other value-added services are among the offerings of the business. The financing layer provides both short-term and long-term loans, with the former being available for platform purchases and the latter being available to end users.
Manan Mehta, co-founder of Solar Ladder, stated, "We seek to allow faster scaling of solar installations by providing them with relevant financial, procurement, and software solutions. According to Prachi Sinha, principal at Axilor Ventures, Solar Ladder is developing a digital flywheel in one of the industries with the fastest global growth rates.
"The market for home and business solar installations in India alone is well over $50 billion. We have faith in the founding team's capacity to grow the business as a critical facilitator, providing credit availability and procurement transparency to a severely disjointed and fractured supply chain, she continued. One of the top three most active seed funds based in India is Axilor Ventures. It finances early-stage startups across all industries.
The money will be used to deploy software that automates procedures for solar installers, enabling them to increase their businesses tenfold, and aiming to become the go-to ecosystem for solar installation businesses, according to the official press release. Atha Group, NIPHA Group, Varun Alagh, the founder of Mamaearth, Subin Mitra, and Aditya Bandi of Groyyo, as well as Deepak Jain, a partner at Bain and Company, were among the angel investors in the investment round.
"Solar Ladder aims to establish a robust marketplace that... enables cheaper procurement, provides short-term embedded credit and insurance products to meet installers' working capital requirements, and offers long-term financing options for end customers of solar installers," it continued.
SaaS, procurement, financing, and other value-added services are among the offerings of the business. The financing layer provides both short-term and long-term loans, with the former being available for platform purchases and the latter being available to end users.
Manan Mehta, co-founder of Solar Ladder, stated, "We seek to allow faster scaling of solar installations by providing them with relevant financial, procurement, and software solutions. According to Prachi Sinha, principal at Axilor Ventures, Solar Ladder is developing a digital flywheel in one of the industries with the fastest global growth rates.
"The market for home and business solar installations in India alone is well over $50 billion. We have faith in the founding team's capacity to grow the business as a critical facilitator, providing credit availability and procurement transparency to a severely disjointed and fractured supply chain, she continued. One of the top three most active seed funds based in India is Axilor Ventures. It finances early-stage startups across all industries.
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