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Freyr Energy to raise $2-3 million this yr

According to reports, Hyderabad-based Freyr Energy, a full service solar solutions provider that raised Rs 10 crore in the last 18 months from institutional and angel investors, is now planning to raise around $2-3 million this year, Freyr Energy co-founder and managing director Saurabh Marda said. “The funds will be used mainly to meet the working capital requirements, product development and marketing activities,” said Marda while speaking on the sidelines of the launch of the Freyr SunProTM (SunPro) mobile app that helps individuals and companies (that do not have a sound understanding of the solar or electrical sector) run their rooftop solar businesses and even scale it up.

The app uses algorithms and data analytics to streamline the entire process of fulfilling the customer’s solar requirements.

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