Total amount raised
₹110 Million
Latest funding date
05/01/2023
Location
Solar Ladder has successfully raised 1.3 million USD in seed funding, supported by 11 investors including DevCo Partners and Aditya Bandi. The platform offers a comprehensive suite of tools designed to streamline and enhance the operations of solar businesses.
Keep reading to explore the intricacies of Solar Ladder's fundraising journey and the investors backing this innovative platform.
What Is Solar Ladder?
Solar Ladder is a supply chain platform that helps solar installers automate, outsource, and simplify solar panel installations. The company operates in the solar energy and supply chain management industries and is located in Andheri, Maharashtra, India.
Founded in Andheri East, Saki Naka, Mumbai, Solar Ladder has a small team of 1-10 employees. The platform offers a range of software solutions, including project management, proposal creation, design software, task management, and financial services, aimed at helping solar businesses grow and manage their operations efficiently.
How Much Funding Has Solar Ladder Raised?
- Seed Round
- Amount Raised: 11 crore INR (approximately 1.3 million USD)
- Date: May 2023
- Lead Investors: Axilor Ventures, Titan Capital, DeVC, Stride Ventures, and several angel investors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: The funds will be used to distribute software that automates processes for solar installers, enabling them to expand their business significantly. Solar Ladder aims to become the go-to ecosystem for solar installation companies by providing a robust marketplace for cheaper procurement, short-term embedded credit, insurance products, and long-term financing options.
Total amount raised: 1.3 million USD. Current valuation: Not publicly disclosed.
Key Investors
- Axilor Ventures
- Details: Axilor Ventures is an accelerator and venture capital firm founded in 2014. It is among the top three most active seed funds in India.
- Investment Focus Areas: Early-stage startups, supply chain/B2B commerce, Enterprise SaaS, Healthtech, AgriTech, Fintech, consumer internet.
- Notable Investments: FreshToHome, HealthifyMe, UrbanPiper.
- Titan Capital
- Details: Titan Capital is an investment firm that provides seed and early-stage funding. It has a strong focus on technology startups and consumer internet.
- Investment Focus Areas: Technology startups, consumer internet, financial services.
- Notable Investments: Ola, UrbanClap, Mamaearth.
- DeVC
- Details: DeVC is a venture capital firm that focuses on early-stage technology companies. Specific details about the firm are not widely disclosed.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Not specified.
- Stride Ventures
- Details: Stride Ventures provides venture debt to startups across various sectors. It aims to support high-growth startups with both debt and equity funding.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Pocket Aces, Miko, SUGAR Cosmetics.
- Varun Alagh (Founder, Mamaearth)
- Details: Varun Alagh is the founder of Mamaearth, a consumer goods company. He is also an active angel investor in various startups.
- Investment Focus Areas: Consumer goods, technology startups.
- Notable Investments: Mamaearth.
What's Next for Solar Ladder?
Solar Ladder stands at the cusp of a significant opportunity, with the Indian market for residential and commercial solar installations estimated to be well above $50 billion. The company aims to facilitate faster scaling for solar installers by providing a comprehensive suite of financial, procurement, and software tools. This includes a robust marketplace for cheaper procurement, short-term embedded credit, insurance products, and long-term financing options for end customers.
Given the vast market potential, future fundraising opportunities seem promising. The initial success and significant market size suggest that there may be future rounds of funding to further scale the business. Solar Ladder's growth ambitions align well with the increasing demand for residential and commercial solar installations, driven by government initiatives and a growing focus on sustainable energy solutions.
However, the path ahead is not without challenges. Navigating a highly fragmented and broken supply chain, ensuring procurement transparency, and managing the financial and operational risks associated with providing credit and financing options are some of the hurdles Solar Ladder might face. Additionally, the company will need to compete with other players in the rapidly growing solar energy sector while maintaining service quality and efficiency.
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