Freyr Energy, an India-based full-service solar solutions firm providing access to cheap energy, has closed a US$1.5 million Series A round from Impact Partners, a crowdfunding platform for impact investing.
Operated by Singapore-based Impact Investment Exchange (IIX), Impact Partners brought together a consortium of global investors including Netherlands-based C4D Partners and India-based angel investors. According to IIX’s impact assessment, the funding will expand access to reliable and affordable solar energy to 2,275 households and 2,975 businesses, enable 675 off-grid rural villages to enjoy electricity for the first time through micro-grids, and avoid 167,270 metric tons of CO2 emissions by 2022. Read more.