Solar module manufacturer Waaree Energies has raised about $121 million (Rs 1,000 crore) from various investors and promoters through primary funding. Separately, HR-tech SaaS startup HROne and agri-tech platform Falca have also secured funding.
Waaree Energies raises $121m
Solar module manufacturer Waaree Energies has raised about $121 million (Rs 1,000 crore) from various investors and its promoters through primary funding, it announced on Thursday.
Waaree will use the funds to expand its manufacturing capabilities in India from 2GW to 9GW for PV modules, of which 5GW is already operational and the balance 4GW is expected to be operational by January 2023.
The company is also looking at backward integration by manufacturing solar cells with an installed capacity of 5.4 GW.
Apart from manufacturing solar PV panel manufacturer, Waaree also provides EPC services, project development, rooftop solutions and solar water pumps. The company is present in over 388+ locations nationally and 19 countries globally.
Insitor Partners backs HROne
HROne, an HR-tech SaaS startup, has raised $4 million in its Series A funding round led by Insitor Partners, with participation from Prudent Investment Managers.
The company will use the funds to drive expansion into newer and existing markets. With this inflow, the company intends to 10x its revenue growth in the next three years, it said in a statement.
Founded in 2016 by Karan Jain, HROne is a cloud-based HR automation platform that helps companies eliminate mundane and repetitive HR tasks. By automating 80+ processes, HROne claims to have simplified HR operations.
IPV leads funding in Falca
Agri-tech platform Falca has raised over $ 3 million in its pre-Series A round led by Inflection Point Ventures in a combination of debt and equity funding.
The round also saw participation from LetsVenture and Mumbai Angels, among other HNIs, the startup said in a statement.
The funds raised will be used in scaling services beyond the current geographies, acquiring talent for growth and focusing on building tech infrastructure for the platform.