Renewable Energy Transition Platform SafEarth receives Rs 35 Million Funding
SafEarth, an India-based technology system for the green energy transition, completed a funding round of Rs 35 million ($426,755) to support the business's product growth plans and expansion into new industrial belts across the country. The funding round was led by Anthill Ventures, Third Derivative, and Mumbai Angels. SafEarth is an energy transition system assisting commercial and industrial (C&I) consumers in evaluating solar transition options and savings.
According to the company, it has supported over 100 industrial solar projects with a deployed capacity of 171 MW, saving over 300,000 tonnes of carbon emissions, and has assisted enterprises in making a large-scale transition from thermal power to solar energy. According to Harshit Poddar, co-founder of SafEarth, "SafEarth is leading the transition to renewable energy sources and assisting enterprises cut their carbon emissions at scale with our entire portfolio of goods and innovative tech stack. The most recent fundraising round permits us to expand to additional industrial belts across India and expedite product development in addition to validating our purpose.
The company said the platform’s marketplace offers a streamlined, clean energy procurement process for industries, reducing time by 50%, cost by 10%, and eliminating errors. This efficiency translates into over 20% increased project returns for businesses. Solar Flow, the platform’s project management automation tool, ensures efficient implementation and quality assurance, boasting a 0% project failure rate. Furthermore, Solar Flow monitors real-time electricity consumption, providing recommendations for cost reduction and long-term sustainable savings.
The company has collaborated with industry giants such as Everest Industries, Ather Energy, and Mondelez India. SafEarth attests its platform has generated business worth over Rs 8 billion (~$97.5 million) for solar installers, reinforcing its impact on the renewable energy ecosystem. At the ‘Mercom India Renewables Summit 2023,’ an exclusive event on April 26-27 in New Delhi, industry experts gathered to discuss critical issues, opportunities, and emerging trends related to the use of renewables by industries.
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