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Godrej Strengthens Stake in Zunroof

Rooftop solar startup Zunroof has raised ₹20 crore (approximately $2.3 million) in a new funding round. The investment comes from ANBG Enterprise LLP (Godrej Family Office) and Ravindernath Chadha, with the allocation of 75,960 equity shares at ₹2,638 each, as per regulatory filings.

Innovative Solutions: Solar and Smart Home Technology

Founded six years ago, Zunroof focuses on:

• Rooftop solar solutions: Specializing in design, installation, and financing with AI-driven efficiency improvements.
• Smart home segment: Offering IoT-enabled products since 2020, targeting home automation and convenience.

Performance and Investment Highlights

Zunroof’s growth trajectory includes:

• Total funding raised: Approximately $9 million, with Godrej maintaining its strong support.
• Stakeholder increase: Godrej Family Office boosted its stake, previously holding 51%.

FY24 Financial Highlights:

• Losses reduced by 51.7%, reflecting improved cost efficiency.
• Operating revenue decline by 11.46%, amounting to ₹29.84 crore.

Competition in the Solar Startup Sector

Zunroof competes with several players in the solar energy space, including:

• SolarSquare
• Cleantech
• Mysun
• Oorjan
• Freyr Energy

Despite limited funding in recent years, the sector is experiencing a revival with notable investments:

• $40 million raised by SolarSquare
• $30 million raised by Glow
• $8 million raised by InSolare