Godrej’s rooftop solution subsidiary Godrej Solar is one of the companies that ZunRoof competes with, so the investment can be seen as a strategic one.
Home appliances, real estate and consumer goods conglomerate Godrej has invested $1.2 Mn in Gurugram-based home tech startup ZunRoof. Existing investors Ramakant Sharma, founder of Livspace; Gaurav Gupta, Asia director of Dalberg Advisors; and Ajith Pai of Paipal Ventures also participated in this funding round.
Founded by Pranesh Chaudhary, ZunRoof specialises in solar rooftop design, installation, and management using technologies such as computer vision, AI and VR. The startup will use the funds to hire and retain talent and expand its solar rooftop operations across India. It is also looking to launch home IOT products and to further strengthening its product portfolio.
Achievement so far
So far, ZunRoof has raised a total of $1.7 Mn in four rounds of funding since its launch in April 2016. Before the fresh round, the startup had raised a seed funding of INR 1.66 Cr in June last year.
ZunRoof helps customers reduce their electricity bills by using unutilized rooftops for solar power generation. It also offers a real-time IoT device for solar power monitoring through a companion app. The app lets customers control or modify solar power usage.
Godrej’s rooftop solution subsidiary Godrej Solar is one of the companies that ZunRoof competes with, so the investment can be seen as a strategic one.
