MoneymintMoneymint
    • ABOUT
    • BANK
    • CRYPTO
    • MONEY
    • TIPS
    • DISCLOSURE
      • DMCA
      • Terms and Conditions
      • Privacy Policy
    Subscribe
    MoneymintMoneymint
    Home»SOCIAL ENTREPRENUERSHIP

    Boond secures Series A Investment

    By ADITYAUpdated:August 8, 2020
    boond-engineering
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Opes Impact Fund (Fondazione Opes) joined by two other members of the Ennovent Circle – Rianta Capital and Sumantra Roy – have closed a Series A equity investment round in North India-based clean energy access company, Boond Engineering & Development.

    This investment in Boond led by Opes is the seventh deal facilitated by the Ennovent Circle – an exclusive group of investors, mentors, and entrepreneurs that collaborates to accelerate innovations for low-income markets – since its launch in 2012.

    Boond secures Series A Investment

     

    Around 500 million people in India receive less than 8 hours of power a day. In states like Rajasthan and Uttar Pradesh, this figure is over 100 million with 30% of the population living in un-electrified or badly electrified areas. There is a severe shortage of renewable energy product service centers in these areas where the dismal distribution, storage, and transmission of conventional power compounds the energy crisis.

    Boond is an enterprise working towards providing affordable, clean energy access to the remote, rural parts of India. Along with servicing solar power centers, Boond also designs high-quality products for rural markets such as solar light systems, solar light bulbs, biomass gas stoves, solar AC inverter systems, and solar water pumps.

    Boond Engineering & Development Pvt. Ltd

    Currently, Boond has six energy hubs across districts in Rajasthan and UP, enabling 10 million people to access to customized solar solutions. The company also aims to create awareness in the sustainable enterprise sector and facilitate public and private partnerships with inclusive business models.

    With this Series A investment, Boond plans to build a more stronger and reliable service infrastructure in the form of energy hubs, demonstration units, inventory, and trained technicians.

    boond-founder

    Founder Rustam Sengupta (extreme right) at the installation of a Boond solar panel.

    Speaking about the investment, Rustam Sengupta, Founder – Boond, says, “We are very excited to have Opes and Ennovent Circle Members on board as our investors. This investment will help fast-track our plans for the future and using this capital Boond will expand to over 20 hubs in the two states that we work in reaching over 1 million people. The funding will also help sustain our organization while penetrating virgin areas with low energy access.”

    boond engineering clean energy access clean tech india ennovent circle opes impact fund rianta capital
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    ADITYA

    Aditya is a talented content writer with a passion for crafting engaging and informative content that resonates with readers. With 10 years of experience in the industry, he has honed his writing skills to produce high-quality content across a wide range of topics.

    Keep Reading

    Legislations affecting Microfinance Institutions in India

    Legislations affecting Microfinance Institutions in India

    MFI’s in Kerala come together to form Kerala Association of Microfinance Institutions

    MFI’s in Kerala come together to form Kerala Association of Microfinance Institutions

    FundingSources

    Main Sources of Funding for a Social Enterprise – India Social Business Survey

    hemant-kumar-handinhand

    Hemantha Kumar – CEO of Hand in Hand Microfinance speaks on Social Entrepreneurship

    Orissa Govt. Asks Banks to Meet Their Targets

    Ujjivan Microfinance forays into Haryana

    Ujjivan Microfinance forays into Haryana

    Latest Articles
    Bhushan Kumar Net Worth, Income, Property
    March 18, 2023
    What do Public Utilities Jobs Pay? Full List of Jobs
    March 18, 2023
    Ulta Credit Card Payment Process
    March 17, 2023
    Best Weekend Side Jobs to Earn Extra Income
    March 17, 2023
    Sunil Shetty Net Worth, Hotels, Property
    March 16, 2023
    How many Jobs are available in Consumer Services? Full List
    March 16, 2023
    How to Find the History of a Property Online? Full Guide
    March 15, 2023
    A Comprehensive Govt ITI Courses List
    March 15, 2023
    Chiranjeevi Net Worth, Salary, House Price
    March 14, 2023
    20 Best Paying Jobs in Transportation with Salaries
    March 14, 2023

    Subscribe to Moneymint

    Every Sunday we email people like you with top tips, insights and opportunities to manage your finances and build your online business.

    The form collects name and email so that we can add you to our newsletter list for updates. Check out our privacy policy
    Please enter a valid email address
    That address is already in use
    The security code entered was incorrect
    Thanks for signing up
    Moneymint
    Moneymint is a personal finance website that offers a variety of resources and tools to help individuals earn money online, save money, and create passive income streams. The site aims to empower users to take control of their finances and achieve their financial goals.

    Moneymint™ | Corporate Park, D-21, Sector 21, Dwarka, Delhi 110077
    Categories
    • Bank
    • Business
    • Credit Cards
    • Crypto
    • Loan
    • Money
    • Net Worth
    DISCLAIMER

    The content on this site is for informational and educational purposes only and should not be construed as professional financial advice. Should you need such advice, consult a licensed financial or tax advisor. References to products, offers, and rates from third party sites often change. While we do our best to keep these updated, numbers stated on our site may differ from actual numbers. See our Privacy Policy & Disclaimer for more details.

    © 2023 Framed Media
    • About
    • Contact us
    • DMCA
    • Terms
    • Privacy Policy

    Type above and press Enter to search. Press Esc to cancel.