Axilor Ventures, Titan Capital, DeVC, Stride Ventures, and angel investors have invested Rs 11 crore in Solar Ladder, a supply chain platform for solar installation businesses. The money will be used to disperse software that streamlines procedures for solar contractors, enabling them to tenfold the size of their businesses.
The mission of Solar Ladder is to build a strong market that enables more affordable procurement, gives end users of solar installers long-term financing choices, and offers short-term integrated credit and insurance products. SaaS, procurement, finance, and other value-added services are all part of its service offering.
Currently, the business serves over 250 clients, including well-known companies like Mahindra Solarize and Fourth Partner Energy. With government programs and a rising awareness of the benefits of renewable energy, India’s solar rooftop industry has seen a steady increasing trend in recent years.
India has a 200 GW rooftop solar potential, according to estimates. The nation’s rooftop solar capacity increased by 1.7 gigawatts (GW) in FY22, the most in a fiscal year. The second-highest for a quarter, 456 MW of rooftop solar capacity was installed in the first quarter of FY23.
Manan Mehta, a co-founder of Solar Ladder, claimed that India has a rare opportunity to decentralize its electricity supply and improve the standard of living for all residents.
With the right financial, purchasing, and software solutions, Solar Ladder wants to help these installers scale more quickly. By providing local installers in every location with cutting-edge services and technology, Solar Ladder is dedicated to helping solar installers grow their businesses ten times.