According to reports, Greenlight Planet has raised $4Mn from Bamboo Finance and P. K Sinha, Co-Founder of ZS Associates.
With this investment, Keith Allman from Bamboo Finance will join Greenlight’s board.
The investment will be used to expand Greenlight’s model in India, grow its global partnerships, and to innovate the next generation of high-quality, low-cost energy products specifically designed for rural consumers.
Founded by Mayank Sekhsaria, Anish Thakkar, and T. Patrick Walsh, Greenlight Planet designs and distributes solar-powered lanterns to villagers in rural India and Africa. It designs and distributes of solar-LED home lights.
Greenlight Planet designs its solar lanterns under Sun King brand with a focus on durability recognized as unique in the industry, and distributes the lights through a growing direct-sales force comprised of local community members.
The company had earlier raised funds from P.K Sinha.
Recently, Bamboo Finance invested R15.7Cr in Delhi based Vienova Education Private Limited to expand it’s services to 100 schools.
Bamboo Finance manages the Oasis Fund a Luxembourg-based investment fund with $250 Mn under management. It Invests in energy, healthcare, financial services, education, housing, water, and agriculture sectors.
Recently in this space, Duron Energy – subsidiary of US-based Distributed World Power, a maker of affordable off-grid solar energy solutions was also planning to raise $10MN to fund its expansion plans.