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Freyr launches mobile app, to raise $3 mn

Freyr launches mobile app, to raise $3 mn


City-based startup and a full spectrum service provider in the distributed solar photovoltaic market, Freyr Energy, which has raised Rs 10 crore in the last 18 months from both institutional and angel investors, has launched its SunPro mobile application that will help individuals and companies run their rooftop solar business. In the near future, the company looks to raise $3 million. The existing funds will be used towards meeting working capital needs, introducing new features besides market expansion. The application which can be used on both iOS and Android devices uses complex algorithms and data analytics to streamline the entire process of getting the end user’s solar requirements fulfilled. The app replaces the need of having a five-member team comprising a design engineer, pricing specialist, customer management, supply chain and project management.

Founded by Saurabh Marda and Radhika Choudary, with operations in India and Ghana, Freyr has completed over 770 installations in 14 States across India. The company’s proprietary mobile application SunPro works on iOS and Android devices, the application helps in narrowing down to the requirement of a customer and the budget. The application which was accessible for only registered channel partners will be made available now. Saurabh Marda said, “The mobile application will become a key differentiator for the company’s services. This will help provide access to the rural population besides tapping tier 2 and tier 3 towns. The business could be scaled up at a low cost with the potential to increase revenues by three times. We are looking at introducing the application in other languages too. We will try out Telugu and Hindi soon and may explore African languages too.”

The company which has an order book worth Rs 60 crore will make installations with a cumulative capacity of 5-7 MW. It has already delivered so far Rs 23 crore worth of projects with a cumulative capacity of about 3 MW. Freyr is seeing majority of the orders coming from industrial and commercial users. While State government initiatives are pushing the government contracts, private projects are also growing gradually. As of now the government projects constitute a major chunk at about 60 per cent. In term of the growth markets, Telangana, Karnataka, Andhra Pradesh, Haryana and Punjab are the key drivers for growth. In North East too, several States are encouraging solar installations with higher subsidies. The company has operations in India and Ghana. Freyr which turned profitable last year, is planning to establish presence in 25 countries in the next three years.

Anand Gupta Editor - EQ Int'l Media Network


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