The Chennai Angels (TCA) last week announced an investment in Fourth Partner Energy, a Hyderabad-based company focused on distributed solar power. This round of investment was led by TCA investor members, Shankar V, Kayar Raghavan and Narayanan R. The details were not disclosed.
Fourth Partner Energy was founded in 2010 by Vivek Subramanian, Saif Dhorajiwala and Vikas Saluguti. The company has completed 300 solar installations across the country and provides end-to-end solutions including design, turnkey execution, servicing and financial structuring of captive solar assets. It aims to finance, build, develop and manage a large operating portfolio of de-centralised solar power assets in India by positioning itself as full-services renewable energy services company. "We are convinced that the distributed power segment will see explosive growth over the next few years. This disruptive application will call for financial engineering and execution skills, both of which 4PEL possesses in abundance," said Narayanan.
Scroll.in gets Omidyar's funding
US-based digital publishing company Scroll Media Inc, which runs a digital daily under the name Scroll.in, has raised an undisclosed amount from Omidyar Network, the philanthropic VC firm set up by eBay founder Pierre Omidyar, with participation from New York-based Media Development Investment Fund, reports VC Circle.
Appdra raises $1.5 million
Bangalore and US-based app development startup Appdra Software Solutions has raised $1.5 million in a Series-A round of funding through US-based crowd-funding platform Becovillage, reports VCCircle. The investors who participated in this round include John Harris, founder of International Barter-Business, a consulting and intermediary firm that evaluates, analyses, models and restructures financial projects to raise capital for its clients.
If you have any information to share, please write to bsreporter@bsmail.in