Soleos Solar Energy has secured ₹48.5 crore ($5.82 million) in equity funding from private investors and family members. 

The funds will be utilized as working capital and renewable energy portfolio development, the company said. 

India Ahead Venture Fund, Sunil Singhania’s family office, Madhuri Madhu Kela, and Nabs Vriddhi were among the investors who took part in the funding round, Soleos said in a statement.

The fund infusion will help the company in generating its working capital, global renewable energy portfolio development, and establishing manufacturing facilities across the globe, it added.

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