Renewable energy company Aurora Solar which helps customers by providing them an automated feature which helps them figure out the cost of the installations on the roof has secured a $20 million in Series A round fundraising. The round was led by Energize VC (formerly Invenergy Future Fund) and S28 Capital led the investment round with participation from Pear Ventures. Energize Ventures' managing director Amy Francetic will be joining the board of Aurora as part of the investment.
Started in 2013 by Christopher Hopper and Samuel Adeyemo, the company offers an automated process to figure out the cost which could be a huge sum if a third party comes out to figure that out. That was the amount which customers were losing prior to having Aurora Solar and the amount would turn big if the installation was for some commercial property. The fresh capital will help the company double their current staff of 50 and bring new tools to the market.
Adeyemo, the co-founder of the company said that when they were working on the installation of solar in a Kenya school, they realized the problem and that's how Aurora Solar was born. According to Adeyemo, the software was not up to the date.
Francetic commenting on the investment from his company said, "We see a tremendous market opportunity for software to drive efficiency across every aspect of the solar project lifecycle as the industry continues to grow, and Aurora is best-positioned to build it. Aurora's LIDAR-enabled digital solution will be instrumental in making solar energy more affordable and reliable. In addition to capital, we look forward to bringing our energy industry network and experience in scaling industrial SaaS companies to help accelerate Aurora's growth."
Hopper, the other co-founder of the company talking about the partnership with Energize said, "We are thrilled to be partnering with Energize to bring the best-in-class sales and design platform to solar professionals in the US and all over the world. Transitioning to a world powered by sustainable energy is one the biggest challenges facing our generation and we are looking forward to enabling more solar installers to sell and install more solar."
As the solar installation continues to attract the Americans, it is a great time for Aurora to expand themselves really quick.
Image Courtesy : Aurora Solar