Claro Energy raises Pre-Series A investment

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claroIndia: Claro Energy, India’s leading innovative solar solutions company has announced that it has raised its first round of funding from a group of Angel Investors in India, Singapore, USA, and Canada.

Claro Energy offers solar powered water pumping solutions to meet the irrigation requirements and rural drinking water needs. Claro Energy was founded by Kartik Wahi and Soumitra Mishra after their MBA at Kellogg School of Management, USA.  Later Gaurav Kumar from Punj Lloyd joined and since then the trio has established Claro Energy as the leading solar energy based water-pumping company in India today.

Solar irrigation holds huge potential in India, where rural regions face severe shortage of power.  There is a high power deficit in several agrarian states and conventionally, farmers have been using diesel generators and mostly dependent on monsoon rains. Claro’s design, centrifugal AC/DC pump, knowledge of middleware, motor operations and engineering of an off-grid solar PV irrigation pump provides farmers an optimal and integrated solution.

Since its inception, the company has expanded its operations from Bihar into UP, Punjab, Jharkhand, Chhattisgarh and Tamil Nadu.  Over the last few months the company has been awarded key projects to install several hundred solar pumpsgiving it a very robust order book. Although a large fraction of its business is with government, Claro is aiming a unique method to sell its solution directly to farmers.  Claro is also a certified MNRE (Ministry of New & Renewable Energy) channel partner and is able to directly disburse subsidies to individuals.