The company posted annual revenues of $ 7.8 Million for the financial year 2018. Pic for representation only

Cygni Energy Private Limited; an innovative Solar-DC solutions startup announced that it has raised funds of $ 6.4 Million through a combination of Equity and Debt. The equity funding is led by Endiya Partners, a leading early stage venture capital firm that invests in product startups and the debt by IndusInd Bank, a leading Private Bank in India. The funds will help the startup in expanding capacity, strengthening R&D capabilities and increasing market reach.

Cygni manufactures one of the most efficient solar controllers and had raised an initial funding in 2014. It was the first company to be recognized under Startup India program. The company is also boosting its leadership team and has roped in Paramjit Singh as Chief Operating Officer, who was earlier serving as Circle Chief Technology Officer with Airtel. The startup has received a grant from Millennium Alliance (FICCI in partnership with USAID, TDB and World Bank) for developing Solar-DC microgrid systems. The company posted annual revenues of $ 7.8 Million for the financial year 2018, and is looking at a buoyant growth of 300-400% in the next fiscal.    

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