Rooftop solar startup Zunroof has raised Rs 25 crore ($2.85 million) in a new funding round. The investment was led by ANBG Enterprise LLP (Godrej Family Office), along with participation from angel investors John Diaz and S Sunil Edwards.

The company had earlier secured Rs 20 crore in December 2023 from the Godrej group and other investors.

According to filings with the Registrar of Companies (RoC), Zunroof’s board approved the issue of 47,986 equity shares at Rs 5,239 each, raising Rs 25.14 crore.

Founded in 2016, the Gurugram-based company provides rooftop solar solutions covering design, installation, and financing. It also integrates AI-driven tools to improve system performance. Since 2020, Zunroof has diversified into the smart home segment with IoT-enabled products.

So far, the company has raised over $15 million. Data from startup intelligence platform TheKredible shows that Godrej holds a majority stake of more than 70%.

In FY24, Zunroof reported an 11.46% decline in operating revenue to Rs 26.43 crore. However, its losses narrowed by 51.7% to Rs 14.24 crore.

The firm operates in a competitive residential solar market, where rivals include SolarSquare, which raised $40 million in December 2023, and Glo, which secured $30 million. Other players in the sector include Cleantech, Mysun, Oorjan, and Freyr Energy.

—----------------------

If you are a proptech company and want to promote your products for free, go to proptechbuzz.com and submit your products. For investors or proptech buyers, sign up on our platform to stay informed about exciting updates and trends in the Proptech Ecosystem.

Explore more Proptech news at proptechbuzz.com/news, for news tips and promotions, reach out to marketing@proptechbuzz.com.