Solar Ladder Raises 11 Crores to Revolutionize Solar Installation Supply Chain

Fueling Growth in India’s Rapidly Expanding Rooftop Solar Market

!Image of a rooftop solar panel installation on a modern home - ideally with a bright, sunny sky. (This is a placeholder - a real image would be used here.)

Mumbai, Maharashtra, India – Solar Ladder, a supply chain platform designed to transform the solar installation landscape, has secured 11 crores in seed funding from a prestigious group of investors including Axilor Ventures, Titan Capital, DeVC, Stride Ventures, and a range of angel investors. The funding will propel Solar Ladder’s mission to become the go-to ecosystem for solar installers, aiming for a tenfold increase in their business scale.

Key Takeaways & Features:

  • Significant Funding: Raised 11 crores in seed funding from leading venture capital firms.
  • Ambitious Growth Target: Aims to enable solar installers to expand their business tenfold.
  • Comprehensive Platform: Offers SaaS, procurement, financing, and value-added services.
  • Rooftop Solar Focus: Capitalizes on India's booming rooftop solar market, estimated at 200 GW potential.
  • Strategic Partnerships: Already serves over 250+ customers, including major players like Mahindra Solarize and Fourth Partner Energy.

Solar Ladder's platform directly addresses the fragmented nature of the solar installation supply chain. The SaaS tool provides end-to-end support – from sales and project management to operations and maintenance – for solar installation companies. Its procurement marketplace streamlines the acquisition of critical components like solar modules and inverters, while the financing layer delivers both short-term working capital loans and long-term financing options for end-customers, empowering installers to execute projects swiftly and confidently. This is particularly critical given India’s rapid growth in rooftop solar, driven by government initiatives and increasing awareness of renewable energy’s benefits. India added 1.7 gigawatts (GW) of rooftop solar capacity in FY22, the highest ever recorded, and 456 MW in Q1 FY23.

The company's approach is rooted in a deep understanding of the industry, gained through on-field experience. Founded in 2021 by Manan Mehta, Abhishek Pillai, and Farhan Ahmed, Solar Ladder achieved profitability while bootstrapping, demonstrating the team’s efficient product development and strategic focus. The team’s dedication has earned them recognition through programs like the YCombinator Startup School, London School of Economics, and grants from the Government of India and Facebook. Investors are particularly excited about Solar Ladder's capital efficiency and the founders’ passion for the sector. "Solar Ladder is one of the most capital-efficient and frugally innovative teams we’ve invested in," notes Bipin Shah, Partner at Titan Capital.

The funding round was led by Axilor Ventures, a top 3 most active seed fund in India, backed by tech pioneers including Kris Gopalakrishnan and SD Shibulal. “Solar Ladder is building a digital flywheel in one of the fastest-growing sectors in the economy, globally,” said Prachi Sinha, Axilor Ventures.

Solar Ladder is poised to play a vital role in unlocking the full potential of India’s solar energy revolution.

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