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					</table><p>Solar energy developer <a href="https://www.prozealinfra.com/" target="_blank" rel="noopener">Prozeal Infra Engineering</a> has received $4 million in a first funding round led by Alchemie Ventures, an investment office arm of Chandrakant Gogri, the Founder and Chairman Emeritus of <a href="https://www.aarti-industries.com/" target="_blank" rel="noopener">Aarti Group of Industries</a>.</p>
<p>The investment is for a minority stake. The valuation is undisclosed.</p>
<p>The funds will be used to scale operations and execute developer-model projects for energy and utility companies.</p>
<p>The transaction, advised by <a href="https://incorpadvisory.in/" target="_blank" rel="noopener">Incorp Advisory</a>, is one of the largest Series-A Fundraising in India&#8217;s solar engineering, procurement, and construction (EPC) space in over two years.</p>
<p>Ahmedabad-based Prozeal Infra has an order book worth $120 million that is scheduled to be executed over the next twelve months.</p>
<p>The company is involved in delivering end-to-end turnkey projects in solar engineering, procurement and construction, electric vehicle charging, and battery storage.</p>
<p>Manan Thakkar, the Co-Founder of Prozeal, said the firm is aligned with the National Solar Mission, which aims to promote energy diversification.</p>
<p>Shobit Rai, the Co-Founder of Prozeal, said Gogri&#8217;s business acumen and guidance would aid the company in achieving sustainable growth in the next stage of development.</p>
<p>Gogri said solar energy and decarbonization are critical to India&#8217;s commitment to climate change. Prozeal Infra, he believes, is well-positioned to seize a significant portion of this energy transformation due to its engineering capabilities.</p>
<p>Prozeal Infra aims to be a decarbonization and net-zero solution provider for commercial and industrial MNCs, MSMEs, and government institutions that support India&#8217;s sustainable energy objectives.</p>
<p>Inderpreet Chadha, Head of Investment Banking at InCorp Advisory, said the investment positions Prozeal Infra to become one of India&#8217;s major players in this field.</p>
<p>In June 2022, Gujarat State Electricity Corporation Limited (GSECL) <a href="https://www.mercomindia.com/prozeal-install-131-mw-solar-projects-in-gujarat" target="_blank" rel="noopener">awarded</a> an EPC contract to Prozeal Infra Engineering to install 131 MW of solar projects in the Surendranagar and Morbi districts of Gujarat.</p>
<p>The company also <a href="https://mercomindia.com/daily-news-wrap-up-lg-electronics-acquires-applemango-ev/" target="_blank" rel="noopener">received</a> a letter of award from the Surat Municipal Corporation for supplying, installing, operating, and maintaining 25 DC fast chargers. The chargers will have a configuration of CCS 2.0 (50 kW) + CCS 2.0 (50 kW) + Type 2 AC (22 kW). The project’s estimated cost is ₹140 million (~$1.78 million).</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gautamee-hazarika/" class="vcard author" rel="author"><span class="fn">Gautamee Hazarika</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Gautamee,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gautamee-hazarika/" target="_blank" rel="noopener">More articles from Gautamee.</a><br />
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<a href="gautamee@mercomindia.com" target="_blank" rel="noopener">gautamee@mercomindia.com</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">Gautamee</a> is a reporter at Mercom India. Prior to Mercom, Gautamee was working as a multimedia news journalist at ThePrint in New Delhi. She has received her Bachelors in English Honors and Masters in English Literature from St.Stephen&#8217;s College, University of Delhi.<a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">More articles from Gautamee</a></div>
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Prozeal Infra Raises $4 Million to Scale Solar EPC Operations

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