GVFL Leads USD 12 Mn Funding Round in Soleos Solar Energy Additional participation came from Tipsons Group, investor Navin Dalmia, select family offices, and several existing backers.

Soleos Solar Energy, a renewable energy company based in Ahmedabad, has raised USD 12 million in a new funding round. The round was led by GVFL, which invested USD 2.5 million.

Additional participation came from Tipsons Group, investor Navin Dalmia, select family offices, and several existing backers.

The company said the funds will be used to expand its project development pipeline and support construction in key regions. The capital will also help strengthen investor governance systems, scale group-captive and other consumer-focused energy models, and build capability in solar projects supported by battery storage.

Founded in 2017 by Bhavesh Rathod, Soleos provides a range of services that include engineering, procurement and construction solutions for commercial, industrial and ground-mounted solar projects. Its operations also cover solar finance, insurance, investor services, and long-term maintenance. The company manufactures its own solar modules as well.

Soleos runs an integrated platform that brings together project development, consumer acquisition, investor onboarding, capital structuring, EPC execution, and asset management. This structure aims to lower risks related to development, performance and scalability.

In recent years, the company has delivered projects in India, Ghana, Uganda and Portugal. It has also worked on solar parks, smart city initiatives and consumer-driven energy models for commercial and industrial users.

Soleos has begun producing battery energy storage systems and plans to grow across India and select global markets. It aims to offer solutions that support peak-demand management and reliable renewable supply.

Waaree Energies, Tata Power Solar and Vikram Solar are some of its competitors in the renewable energy space.