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Gagan Vermani, Founder CEO, MYSUNRooftop solar power company MYSUN has just raised Rs 32 crore from investors. In an exclusive interview with ETEnergyworld, Founder CEO Gagan Vermani shares the larger growth plan. Edited excerpts.

The company is going to announce a new round of fund raising today. Can you share the details

Yes. We had done a small seed funding round of $2.5 million a cover s8 moschino, COACH NEW YORK RED WHITE Cover Samsung Galaxy S8 few years back. Now we have raised $4.5 million, around Rs 32 crore, from an existing investor. We have just closed its documentation. This is pre series A funding. The existing investor helped us with this $4.5 mn. They are happy with progress and optimistic about the business model cover s8 samsung originale, CNCO GROUP 3 Cover Samsung Galaxy S8 and the focus areas of SMEs and technology platform going ahead. We will go to the market very soon for the balance amount.

What is the significance of this fund raising in the lager growth plan

It is a big amount for us and cover s8 originale, CLUB AMERICA BATCH LOGO Cover Samsung Galaxy S8 represents a glimmer of hope in these unprecedented and challenging times. The idea is to embark on a journey to raise a much larger amount to meet the overall plan of raising $40 million, around Rs 250 crore, cover s8 fronte retro, CAMO CHEVY GIRL Cover Samsung Galaxy S8 by cover s8 360 gradi, BUILT FORD TOUGH DIESEL Cover Samsung Galaxy S8 the end of this financial year. We have been close to hiring an investment banker to raise that sum. The balance fund raising post this round would be done over the next few quarters. Out of WATCHMEN DC COMICS Cover Samsung Galaxy S7 cover that total $40 million, we plan to invest around $10 million in projects this fiscal year. The main idea is to deploy these funds to increase the focus on capturing the segment of the market cover samsung grand prime personalizzate represented by SMEs and MSMEs and also push our technology platform. We continue to see cover s8 personalizzate, CROOKS CASTLES MEDUSA Cover Samsung Galaxy S8 value there and we are trying to reach a larger audience. We would also add more people for a rapid sale up.

SMEs are the worst hit in these times cover s8 napoli, CHEVROLET SILVERADO AMERICA Cover Samsung Galaxy S8 of Covid led economic crisis. And many of them may not cover s8 napoli, Corvette Stingray C7 Yellow Cover Samsung Galaxy S8 have a solar rooftop plan in their priority list as of now. What gives you the confidence of going big in this segment

This growth focus was not planned keeping this pandemic in mind but of course our idea behind backing SMEs is that 95 per cent of the Indian industry is not a large industry. SMEs and MSMEs represent a huge customer segment. And it is quite unlikely for them to get PPAs which act as long term credit risk instruments. We plan to roll out a new financial product for SMEs and solar companies that can back cover s8, Chicago Cubs Mlb Icon Cover Samsung Galaxy S8 help unlock value. That would require trust and service capability to be developed as we move ahead. The same financial product has been rolled out for homes already, in around 50 odd projects. That is more like a personal loan. alcantara cover s8, BRAVES WARRIORS COMIC Cover Samsung Galaxy S8 It is easier to access the credit profile of a customer in homes segment but it is more complicated in SMEs and the amount involved is also larger.

What is the size of cover s8 alcantara, CARNAGE VS VENOM VILLAINSCover Samsung Galaxy S8 the market or the size of the business opportunity that exists there

Assuming 5 per cent of the entire MSME and SME industry converts to solar and with an average project size of 100 150 Kw, we are talking about a total of 150 GW market. This is just the installation part. And when you add the service element its another 150 Gw. Combined together, it is a $75 bn business opportunity.

What is the plan on the technology side

We have an independent technology vertical which acts as a centralised hub and is highly scalable. We are currently in talks with a gulf country to deploy our online platform there. In the long run, we are banking on the ability to generate leads and customer acquisition through online channels. That will help us scale up very fast. We are revamping our tech vertical and customizing it for that country. We think in the next 6 months to a year, a lot of focus would shift to grid independent systems. There, the role of storage systems in clear view standing cover s8 prezzo, CLAPTRAP BORDERLANDS Cover Samsung Galaxy S8 the form of technologies like solar plus storage will be huge. Also, there is likely to be a boom in the rural or off grid solar systems. We are watching these trends from a distance.

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