According to reports in DealCurry, Mumbai based SM Windsol India Private Limited has raised first round of funding of R50 Lakh from First Light India Accelerator.
The funds raised will be used for acquiring empanelment from The Ministry of New and Renewable Energy and scaling up operation.
Founded in 2009 by Satish Inaganti, SM Windsol provides renewable energy solutions for residences, commercial establishments and agriculture farms. The solution mainly focus on Micro and Small Wind Power for capacities upto 20KW and would extend to hybrid solutions with Solar and Micro-Hydro Power.
It focuses on customers who are power-starved and looking to reduce dependency on Mains Utility Supply, DG Sets and Backup Inverters.
Currently, the company has operations in 7 states in India. First Light Ventures was launched in 2009 as an independent seed fund affiliated with Gray Ghost Ventures. It invests in high-growth, seed-stage social enterprises. First Light and Shell Foundation launched the First Light India Accelerator to invest in seed-stage social enterprises in India in 2011.
First Light provides risk capital and support to seed-stage enterprises that either target low income consumers in India or expand access to clean energy. It invests between R50 lakh and R1.75Cr.