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Startup

GOI Initiative Research/Innovation Showcase

  • ReNew Power

    Gurugram-based cleantech startup ReNew Power was founded in 2015 by Sumant Sinha, a former investment banker. Sumant Sinha is the son of former Finance Minister of India Yashwant Sinha and brother of Jayant Sinha, Minister of State for Civil Aviation. The renewable energy startup provides solar and wind energy solutions to boost the adoption of clean energy. It claims to have more than 200 distributed solar installation sites across 35 cities in 16 states and two union territories in India. Earlier this year in July, ReNew Power raised $300 million (around ₹2,050 crores) via rights issues from Goldman Sachs, Abu Dhabi Investment Authority and Canada Pension Plan Investment Board. So far, this clean energy startup has raised a total of $2.3 billion, according to CrunchBase.

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  • CleanMax Solar

    Mumbai-based solar energy startup CleanMax Solar was founded by Sushant Arora, Kuldeep Jain, and Andrew Hines in 2011. The startup provides solar energy solutions like rooftop solar for its clients, in order to help them reduce energy costs, reduce carbon footprint, and achieve sustainability goals. According to CrunchBase, CleanMax last raised ₹275 crores in a funding round from UK Climate Investments in April 2019.

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  • Azure Power

    New Delhi-based clean energy startup Azure Power was founded by Inderpreet Wadhwa in 2008. It offers affordable and clean solar energy to its customers through utility-scale solar power projects. The cleantech startup claims to have more than 190 rooftop portfolio across 23 states in India. Azure Power last raised $75 million in a post-IPO equity funding round from Caisse de Depot et Placement du Quebec in November 2019.

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  • Fourth Partner Energy

    Hyderabad-based cleantech startup Fourth Partner Energy was founded by Saif Dorajiwala, Vikas Saluguti, and Vivek Subramanian in 2010. It provides turnkey rooftop solar energy solutions to its customers, to help them reduce energy costs and provide sustainable energy solutions. In December 2019, Fourth Partner Energy secured ₹356.5 worth Line of Credit from Bank of America. Earlier in June 2018, Fourth Partner Energy raised $70 million in series B round from The Rise Fund in June 2018.

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  • Cygni Energy

    Hyderabad-based solar energy startup Cygni Energy was founded in 2015. It offers a novel solar DC solution to provide green solar energy and dc power at affordable costs to its customers. The startup has powered more than 20,000 homes across 10 states in India. Cygni Energy last raised $6.4 million in a mix of equity and debt funding in 2018. The equity funding was led by venture capital firm Endiya Partners and the debt funding was led by Induslnd Bank.

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  • MYSUN

    Noida-based online rooftop solar startup MYSUN was founded by Gagan Vermani and Gyan Prakash Tiwari in 2015. It provides a platform to connect highly-rated solar installers to deliver high quality and best priced solar systems to its customers. In October 2016, MYSUN raised $2.5 million in series A round led by early and growth stage investment firm General Catalyst.

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  • Orb Energy

    Renewable energy startup Orb Energy was founded by Damian Miller and NP Ramesh in 2006, with its headquarter in Bengaluru. It provides affordable off-grid and grid-tied solar rooftop solutions to its customers. It helps small and medium enterprises along with low-income individuals to reduce their electricity bills through their affordable solutions complemented by the collateral-free solar loan. Earlier this year in October, Orb Energy raised an undisclosed amount of funds from Shell Ventures. In January 2018, Orb Energy raised $15 million in a combination of debt and equity funding.

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  • Claro Energy

    New Delhi-based solar pumping solution provider Claro Energy was founded by Kartik Wahi, Soumitra Mishra, and Gaurav Kumar in 2011. It provides solar-powered water pumping solutions to cater to the agricultural needs of rural farmers like irrigation and drinking water to foster productivity and economic growth. In January 2019, Claro Energy raised an undisclosed amount of funds from Samridhi Fund. Previously in February 2015, Claro Energy raised $1 million in debt funding.

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  • Oorjan

    Mumbai-based rooftop solar startup Oorjan Cleantech was founded by IIT Bombay alumni Roli Gupta and Gautam Das in November 2014. The startup provides rooftop solar panels to help its customers bring down energy costs. It also helps its low-income customers to secure easy solar loans through its partnership with IDBI Bank and other banks. Oorjan Cleantech last raised $450,000 in seed funding led by online venture capital firm Globevestor in October 2017.

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  • Oriano Solar

    Mumbai-based cleantech startup Oriano Solar was founded by Sachin Jain, Sameer Shah, and Yeshwant Rao in 2015. It offers turnkey EPC (Engineering, Procurement and Construction) for utility-scale solar power plants, solar farms, and rooftops, to help businesses implement clean solutions and reduce their energy costs.

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