Sustainable Energy-Tech Startup Urja Sathi Gets a ₹3.5 Million Seed Funding Boost Revolutionize the Clean Energy Sector in India
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The funds will be used mainly for team-building, customer support enhancement, marketing and growth
05 March 2024, New Delhi: Lucknow-based Urja Sathi, a pioneering, one-stop sustainable energy-tech platform for buying and selling renewable energy solutions in India, has raised seed funding of INR 3.5 Million from visionary entrepreneurs-cum-investors Ankitt Jain and Sharlee Jain. The seed investment has been facilitated by Neeraj Kumar Pawar and Ayu Sharma, Co-Founders of Pror In Pvt Ltd. Notably, Urja Sathi’s founder had recently pitched his business idea at the PROR India Wealth Summit.
This marks Urja Sathi’s maiden fundraising round; prior to this, the startup had remained bootstrapped since its inception in 2023. Urja Sathi (www.urjasathi.com) has introduced India’s first-of-its-kind, privately-owned online marketplace portal exclusively dedicated to renewable energy-based, environment-friendly products and services, with an emphasis on solar at the moment. The groundbreaking e-commerce portal, launched in January this year, aims to democratize access to various types of clean energy technologies for today’s end-users, making it simpler, seamless and highly sustainable for both individuals and businesses to embrace solar and other forms of sustainable energy at scale.
Speaking on the fundraise, Anurag Srivastava, Founder, Urja Sathi said, “We are excited to announce our first funding round, and would like to thank our esteemed investors Ankitt Jain and Sharlee Jain for putting their faith in us, and endorsing Urja Sathi’s mission and efforts. This investment marks a significant new chapter in Urja Sathi’s journey, and fuels our long-term vision of bringing all buyers, sellers, and a diverse range of key ecosystem players of the clean energy segment in India under one roof via our platform, and eventually becoming the biggest, most efficient and credible marketplace in India catering to renewable energy. Through the Urja Sathi marketplace portal and upcoming app, we are committed to streamlining the adoption of solar and clean energy for both residential and commercial customers in India. This in turn shall be instrumental in elevating the entire industry to new heights and aiding India’s sustainability goals in terms of becoming global clean energy leader by the end of this decade and moving towards Net Zero by 2070”.
Urja Sathi would utilize the newly acquired seed capital to acquire talent, improve customer support, and to enhance marketing, branding and visibility amongst its potential B2B and B2C audiences.
Ankit Jain and Sharlee Jain, Co-Founders of Paper Arizona, and investors at Urja Sathi commented, “Harnessing renewables and solar for meeting our country’s energy needs and improving energy security have never been more important; and Urja Sathi, with its focus on marketplace, technology, and solar, is poised to positively transform and revolutionize the clean energy business in India. We were impressed by Anurag and his team’s vision and dedication to make sustainable and clean energy more accessible, profitable and efficient for everyone, and therefore decided to back Urja Sathi in fast-tracking their growth journey.”
Saurabh Jain, Co-Founder, FSV Capital, and advisor & mentor at Urja Sathi added, “In the present-day era defined by eco-consciousness and technological advancements, Urja Sathi is fostering the best of both ideals, and gaining rapid traction in India’s emerging yet highly potent solar business landscape. Their steadfast commitment towards sustainability and innovation is commendable, and I am confident of their ability to catalyze the green energy ecosystem”.
India is already embracing and promoting solar, clean-tech, and sustainable energy solutions in a major way, in a bid to achieve its ambitious target to secure 50 percent of the nation’s power requirements using renewable energy sources by 2030. However, amongst the notable ongoing challenges vis-à-vis India’s clean energy adoption include low awareness amongst end-users, as well as lack of financial viability and credibility on the business side.
Urja Sathi, the platform, was conceptualized and created with the vision to bridge these market gaps and thereby accelerate India’s clean energy transition. Bolstered by the latest fundraise, the company is now looking forward to launch its flagship ‘Urja Sathi mobile app’ by April 2024, and aims to onboard 5000+ solar manufacturers, EPC players, and sustainable energy solutions provider companies pan India, alongside at least one lakh B2C end-users, on its burgeoning e-commerce platform within the next one year or so. In the near future, apart from solar, the platform will also be focusing on Green Hydrogen, EV, wind and other emerging segments within the broader green energy landscape in our country.
