Ellipsol Raises INR 2.5 Crore In Seed Funding The investment raised would be utilized to take the prototype developed by Ellipsol to the production level and for some of the pilot projects in the initial stages
By Teena Jose
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Ellipsol, a next-generation solar company, has raised INR 2.5 crore in a Seed funding round led by Capital A. The funding round also saw the participation of the Grand Anicut Fund. Other individuals also contributed to the funding round. The investment raised would be utilized to take the prototype developed by Ellipsol to the production level and for some of the pilot projects in the initial stages.
The company will also focus on expanding capacities, and is set to raise more funds during the expansion stage, it said.
"Renewable energy sources are a way to achieve the greener, healthier world we deserve. Despite their prevalence, they are difficult to control. At Ellipsol, we aim to bridge this gap and make renewable energy available at will. Our patented technology will help harness 100% more energy from the solar panels installed in your premises," said Samarth Jain, CEO and co-founder, Ellipsol.
Ellipsol has come up with a patented technology that enables users to harness 100% more energy from the installed solar panels by ensuring precise control over the amount of solar radiation falling on them, as per the company.
"We are thrilled to back Samarth and Kaustubh in their journeys to build a much-needed space of solar energy. The combination hardware and technology is supremely critical to harness the power of the sun in a scientific manner. At Capital-A, we are committed to enabling startups developing cleantech solutions utilizing renewable energy. Our purpose is to strengthen the climatech ecosystem in India through these strategic deeptech investments," said Ankit Kedia, founder and lead investor, Capital A.
Founded by Former CERN scientists and backed by esteemed institutes of India, Ellipsol is currently a climate tech focused startup focused on providing clean and green energy to its end customers at a super affordable price by inventing novel technologies to generate more green power and at the same time store more green power.
