Private Equity PE-VC Fund Investments
Solar PV cells maker Waaree Energy raises Rs.325-Cr led by Niveshaay
Source Waaree Energy Storage Systems (opens in a new tab)Yourstory (opens in a new tab)
Mumbai-based Waaree Energy Storage Systems , the battery arm of Waaree Group, has raised INR 325 crore (as part of its INR 1,000 fundraise) led by Niveshaay (INR 128 crore) with participation from Vivek Jain (Action Tesa) and Saket Agarwal.Waaree provides energy storage solutions through lithium-ion battery energy storage systems (BESS) for energy power station, commercial ESS, and street lamp systems.The fresh funds will be used by the company for expansion of its cell and pack manufacturing, strengthening its engineering and validation, and scaling containerised BESS across India and select global markets.