Greenlight Planet raises $10m in funding


Greenlight Planet has risen over $10 million in its most recent round of funding.

The funding, which was led by Fidelity Growth Partners India, is the second round of fundraising for the off-grid company, following a first round in 2012 which raised $4 million. The news comes as Greenlight Planet launches Sun King Eco Easy Buy, its new pay-as-you-go platform which allows customers to purchase its solar lamps in installments.

Anish Thakkar, co-founder of Greenlight Planet, said in a statement, “As a result of this financing, we’re building the world’s largest rooftop solar consumer base in emerging markets, and we’re investing especially to expand distribution in India and Southeast Asia.”

The Easy Buy system allows customers to make a $2.75 up-front payment at the time of purchase, followed by successive weekly payments of $1.00 after which the lamp is owned fully by the customer. Greenlight Planet’s ambitions for its Easy Buy scheme are to begin sales through its direct sales network before a later worldwide launch.

Popular content

Other participants in the second round of funding included Deutsche Bank and investment firm Global Partnerships. The funds in question will be used for expanding the distribution network of Greenlight Planet and product research. As part of the deal, Kabir Narang, managing director of Fidelity Growth Partners India, is to joint Greenlight Planet’s board.

Greenlight Planet was formed in 2007 and sells its products across India and sub-Saharan Africa. In that time, the firm says, it has sold almost 3 million devices.

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact:


Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.