Ending Soon! Save 33% on All Access

Navitas Alpha Renewables Raises INR 7 Crore In Seed Funding The fresh funds will be invested to add incremental capacity and strengthen the company's R&D initiatives

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Company handout

Navitas Alpha Renewables Private Limited (NARPL), a solar EVA manufacturer and a subsidiary of Navitas Solar, has raised INR 7 crore in a Seed funding led by Niveshaay (investment advisors) along with the participation of Madhusudan Sarda, IVY Growth Associates, and others. The fresh funds will be invested to add incremental capacity and strengthen the company's R&D initiatives. The company will also use part of the capital to ramp up its testing capabilities and improve its product's value proposition.

"It is a privilege to have the support of such strong and like-minded investors at this early stage of NARPL's journey. With the backing from Niveshaay, in addition to our existing investors, we are well on our way to capitalizing on the opportunity and becoming an industry leader," Akshay Agarwal, director, NARPL.

NARPL is a joint venture between Navitas Green Solutions Private Limited (Navitas Solar) and Alpha Plastomers Private Limited (Alpha Group). With its foray into manufacturing in 2020, NARPL manufactures EVA encapsulant films, a critical input in solar module manufacturing, and markets them under the brand EVO FCP.

"Given the enormous potential of the renewables sector and the NARPL team's relentless pursuit of success, this investment seems an ideal way to support India's transition to sustainable energy. We, at Niveshaay, are excited to help the NARPL team take advantage of the growing solar opportunities in the country," Arvind Kothari, founder, Niveshaay.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
News and Trends

CoverSure and CirclePe Raise Early-Stage Funding

Here are the Indian startups that announced early-stage funding rounds.

Business Models

How to Become an AI-Centric Business (and Why It's Crucial for Long-Term Success)

Learn the essential steps to integrate AI at the core of your operations and stay competitive in an ever-evolving landscape.


Get This Handy Color Sensor for $50 Through Memorial Day

Keep your business in touch with any color that inspires you.

Business News

'Creators Left So Much Money on the Table': Kickstarter's CEO Reveals the Story Behind the Company's Biggest Changes in 15 Years

In an interview with Entrepreneur, Kickstarter CEO Everette Taylor explains the decision-making behind the changes, how he approaches leading Kickstarter, and his advice for future CEOs.