Lucknow-based Urja Sathi raises Rs 35 lakh In seed funding round

Lucknow's Urja Sathi, a sustainable energy-tech platform, has raised Rs 3.5 million in a seed funding round led by entrepreneurs Ankitt Jain and Sharlee Jain. The funding aims to bolster Urja Sathi's mission to unify the clean energy market in India, enhancing its services and reach to both B2B and B2C segments.

The vision behind the funding

Anurag Srivastava, founder of Urja Sathi, said, “This investment marks a significant new chapter in Urja Sathi’s journey and fuels our long-term vision of bringing all buyers, sellers, and a diverse range of key ecosystem players of the clean energy segment in India under one roof via our platform, and eventually becoming the biggest, most efficient and credible marketplace in India catering to renewable energy.”.

The role of investors

The Jain duo, co-founders of Paper Arizona and now investors in Urja Sathi, shared their enthusiasm for the platform's potential to transform India's clean energy sector. They highlighted the importance of renewable energy in enhancing the country's energy security and praised Urja Sathi for its innovative approach to addressing market gaps. Their investment is seen as a vote of confidence in the platform's ability to fast-track India's transition to sustainable energy.

Future plans and expansion

With the fresh influx of funds, Urja Sathi is set to expand its offerings and reach. The startup plans to launch a mobile app by April 2024, aiming to onboard over 5000 solar manufacturers, EPC players, and sustainable energy solution providers across India. Additionally, it seeks to attract at least one lakh B2C end-users within the next year.

Beyond solar, Urja Sathi intends to explore other renewable energy segments like green hydrogen, EV, and wind, further contributing to India's green energy landscape.

Addressing challenges and setting goals

India faces significant challenges in clean energy adoption, including low awareness and financial viability. Urja Sathi's platform was designed to overcome these obstacles, facilitating a smoother transition to renewable energy.

With the country's ambitious target to meet 50% of its power needs through renewable sources by 2030, Urja Sathi's innovative marketplace and upcoming app are poised to play a crucial role in achieving these objectives, driving India towards its Net Zero goal by 2070.