LONDON--(BUSINESS WIRE)--Kohli Ventures, the global technology investment company, and Zynergy Group [“Zynergy”], an Indian solar projects and services company, has announced today the launch of its fund-raising plans, targeting USD$100m over the next three years. The investment will go towards expanding the business and driving the rapid growth of the solar energy sector across India, Africa, The Middle East and Asia.
A specialist in disruptive technologies, Tej Kohli, Chairman and CEO of Kohli Ventures, said: “This is both an essential part of the solution to moving the world away from non-renewable sources of energy and a key to unlocking greater economic growth for emerging and developing countries. Technology will continue to advance and push the dial in the renewable energy sector. The key is in finding those at the cutting edge to ensure first mover advantage”
The $100m investment drive has been launched by Kohli Ventures and Zynergy to further fund and support ground-breaking technology within the renewable energy sector by providing Zynergy with working capital to help it build the business, expand into new markets, and further develop its manufacturing and R&D capabilities. This is based on Zynergy’s successful track record of achieving path breaking technologies and solar based applications for home solutions in rural communities.
The announcement follows the launch of the partnership between Kohli Ventures and Zynergy in December 2015, at which Kohli Ventures invested $10m into Zynergy to support its new manufacturing plant in Tamil Nadu, India. Here, Zynergy will manufacture Cells, PV Modules, Inverters (Power Control Units) and other solar-based applications, supporting the Indian Government’s solar energy initiatives and helping to change the daily lives for many thousands of families living in India’s rural communities. The investment by Kohli Ventures is the first tranche of funding with further tranches of funding confirmed to take place to support Zynergy’s growth into the overseas markets.
Rohit Rabindernath, serial entrepreneur and Founder of Zynergy, added “At the COP21 UN climate summit more than 500 organisations worldwide, representing over $3.4trn in assets, pledged to new commitments. With energy demands only set to increase, these assets need to remain within the energy sector and shift towards renewables. Technology is a differentiator in the global market, and at the same time is bringing costs down, which means it is possible to bring increasingly affordable power on-line. With the biggest demands in emerging and developing countries, solar is the primary energy and investment solution.”
NOTES TO THE EDITORS
About Kohli Ventures
Kohli Ventures is a global investor in innovative ideas, disruptive technology and dynamic businesses. Founded by Tej Kohli, a visionary technology entrepreneur and global businessman, Kohli Ventures’ focus is on collaborating with entrepreneurs and organisations that require investment and advice in order to achieve their true potential. Its mission is to invest smart capital in innovative ideas, disruptive technology and dynamic businesses that have the potential to change the lives of many around the world.
Over the past 15 years, Kohli Ventures has invested multi million dollars in innovative disruptive technology start-ups and high-growth companies across the globe, including but not limited to, Grafix Softech, Elegant Technology, Cedars Online, Dynacart Solutions, and Ozone Real Estate. Kohli Ventures has offices in Abu Dhabi, Buenos Aires, Delhi, London, Miami, San Jose and Vancouver.
About Zynergy Group
Zynergy Group is a business enterprise operating in the rapidly growing solar arena in India. Formed in 2011 by Mr. Rohit Nath, a first generation serial entrepreneur, it offers a full range of solar energy solutions, services and support. In particular, Zynergy has developed unmatched expertise in installing ‘mass-scale’ home lighting systems and as with 80,000 solar-lit homes already delivered, Zynergy is the largest installer of such systems in the world. With a technical staff strength in excess of 200, Zynergy’s team is capable of installing solar equipment right from 100W (off-grid) to Multi-MW grid-tied and Utility scale