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July 24, 2014

Deal Alert: Chennai Angels invests in Hyd-based solar products firm Fourth Partner Energy

Hyderabad-based renewable energy services start-up Fourth Partner Energy (4PEL) has raised a series-A funding of Rs 3 crore from the Chennai Angels. The start-up, co-founded by Vivek Subramanian, who earlier co-founded PE firm Avigo Capital, focuses on solar power. It provides end-to-end solar energy services, both technological and financial, to its clients and manages decentralised solar power assets across India. The company has over 300 solar installations across India, with companies such as Indian Oil, EY and ICICI bank. The company hopes to raise Rs 18-30 crore in the next two years and is looking to target the B2B segment. 

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