Zolt Energy has successfully completed their seed funding round for an undisclosed amount with participation from 7 angel investors.
Launched in early 2014, Zolt Energy, a rooftop solar installation and distribution venture, has remained in stealth mode until Oct 2015 while it built the market canvas, understood customer dynamics and refined the product & service offerings. The 10 member team at Zolt is led by the founders Abhishek Dabas and Harsha Yadav. The venture, nested in the Gurgaon co-working hub of 91springboard, which also advised them in the fundraising process. Zolt Energy had also received grants from Department of Science & Technology via JSSATE to boost its innovative work towards creating India’s first Solar Social Network as more and more residential solar power plants go online.
Zolt, winners of the ‘Top innovator of 2015- IIT Delhi Alumni association, is tapping in to capture the niche unobstructed and shadow free residential rooftop market, which constitutes to 49% of the solar suitable rooftop space in Delhi with a solar potential of 1242 MW. Simultaneously, it is also venturing into Hyderabad as its primary target market. It plans to further expand to Chandigarh, Maharashtra & Karnataka sensing the latent consumer demand, tariffs and govt. initiatives. So far they have executed 8 projects with orders in hand worth Rs. 97.5 Lakhs from 12 projects, 7 projects would be executed within this month and the rest by April 2016.
Solar is the way forward to address the ever increasing demand for energy in our country with decentralized solar assets sitting on your rooftops instead of mammoth power plants on a salt bed, quips Abhishek, sharing remarks from some of the early customers.
“Finally an affordable proposal and a demo system to see all those equipments working, I’ve been using the system for over an year now, the service and maintenance has been prompt and I have no complaints at all” – Mr. Venkata Rao, Hyderabad
“I haven’t had to switch on my generator for the last 3 months!” – Anuj Jain, Gurgaon
The monies raised will be used to spread awareness, reach a wider customer base and strengthen their logistics, monitoring and service offerings.
Website: www.zoltenergy.co