Navitas Alpha Renewables Raises INR 7 Crore In Seed Funding

Opinions expressed by Entrepreneur contributors are their very own.

You are studying Entrepreneur India, a global franchise of Entrepreneur Media.

Navitas Alpha Renewables Personal Restricted (NARPL), a photo voltaic EVA producer and a subsidiary of Navitas Photo voltaic, has raised INR 7 crore in a Seed funding led by Niveshaay (funding advisors) together with the participation of Motion Tesa Group, Madhusudan Sarda, IVY Development Associates, and others. The recent funds will likely be invested so as to add incremental capability and strengthen the corporate’s R&D initiatives. The corporate may also use a part of the capital to ramp up its testing capabilities and enhance its product’s worth proposition.

Firm handout

“It’s a privilege to have the help of such robust and like-minded buyers at this early stage of NARPL’s journey. With the backing from Niveshaay, along with our current buyers, we’re nicely on our strategy to capitalizing on the chance and turning into an trade chief,” Akshay Agarwal, director, NARPL.

NARPL is a three way partnership between Navitas Inexperienced Options Personal Restricted (Navitas Photo voltaic) and Alpha Plastomers Personal Restricted (Alpha Group). With its foray into manufacturing in 2020, NARPL manufactures EVA encapsulant movies, a essential enter in photo voltaic module manufacturing, and markets them below the model EVO FCP.

“Given the large potential of the renewables sector and the NARPL staff’s relentless pursuit of success, this funding appears an excellent strategy to help India’s transition to sustainable power. We, at Niveshaay, are excited to assist the NARPL staff reap the benefits of the rising photo voltaic alternatives within the nation,” Arvind Kothari, founder, Niveshaay.

Source link

Leave a Reply

Your email address will not be published.