Recently launched solar marketplace MYSUN (www.itsmysun.com) has received an initial funding of $ 2.5 million. This is the first round of funding after the company was founded by Gagan Vermani and two of his colleagues Divyanshu Sachdev and Gyan Prakash Tiwari in September, 2015 to focus on demand creation, technology, big data, analytics and standardization in the non-utility and rooftop solar sector in India. This is by far the largest funding received by a company in this new and innovative business segment which is directed towards impacting the rooftop solar industry.
|Key Highlights of MYSUN:
- Guided buying options
- Convenient assisted buying
- End to end solutions; Awareness to installation
- A complete unbiased view on who you should choose as your service provider as an aggregator
- Project monitoring and data analytics
Pursuant to this investment, Hemant Taneja, Managing Director at General Catalyst Partners, an American venture capital firm focused on early stage and growth investments, joins the board of MYSUN. In a recent research by CB Insights, Hemant was named as one of the top 100 venture capitalists in the world. He has lead several successful investments including Snapchat, Gusto, Stripe, etc. to name a few. MYSUN plans to utilize Hemant’s deep experience and leadership to drive its aggressive mission to solarize 10 million rooftops in India.
Speaking on the occasion, Hemant said, “The potential of off-grid and rooftop solar in India is immense, more so with the falling prices of solar. I am impressed by MYSUN’s unique and innovative approach to drive growth in this sector. With the enthusiastic and experienced team here, I am sure the company will make a huge impact in the solar sector.”
MYSUN platform aims to change the way solar is perceived, bought and sold in India. It makes it easy for consumers to understand and adopt solar with the help of high-end technology, data, financial products and an online marketplace that connects them to highly-rated pre-screened solar installers to deliver a high quality and best-priced solar system. These pre-screened sellers adhere to strict quality standards prescribed by MYSUN. Moreover, the benefits for consumers don’t stop there as MYSUN stays with the consumers even after the solar systems have been installed and supports them throughout their solar journey.
Commenting on the developments, Gagan Vermani, Founder & CEO, MYSUN said "We are pleased to announce our first funding of $2.5 million to back our vision. This will help us scale up faster and invest further into technology and infrastructure. We are also delighted to have Hemant Taneja on our board and look forward to gain from his wide experience in scaling up the business."
MYSUN has got immense interest and is seeing increasing momentum amongst the consumers and solar installers since its formal launch just a few weeks back. Moreover, there are a lot of stakeholders like developers, lenders, investors, consultants, architects, etc. who have joined MYSUN to further grow their solar business and to reach out to a vast number of potential customers. It’s advanced and trademark solar calculator MYSUNCalculator is already being run by hundreds of consumers every day across India.
MYSUN aims to be a one-stop solar marketplace that helps consumers understand and evaluate their energy demand. The Delhi NCR based company wants to create a convenient and an unbiased guided buying environment for consumers. They wish to a do so by providing competitive pricing, engineering solutions and financing through their platform. It is a first-of-its-kind platform to bring standardization and structure to the non-utility solar energy sector in India. MYSUN envisions to develop solar energy as an asset class for the consumer. MYSUN's in-house team of veteran solar experts, innovation specialists and data analytics professionals ensure that MYSUN deploys the most advanced tools such as the MYSUNCalculator™, MYSUN Installation & Maintenance Assistant to help consumers get the most out of their solar systems. As with all great products at start, MYSUN is currently in Beta, and relies on the inputs of its early users to improvise the product and make it even better. For more details, log on to: www.itsmysun.com or visit https://www.itsmysun.com/contact-us/
About Hemant Taneja
Hemant is a Managing Partner at General Catalyst. Hemant has spent the last decade partnering with great entrepreneurs to build transformational technology companies including Stripe, Fundbox, Snapchat, Gridco Systems, Livongo Health, Zenpayroll and Class Dojo. He is also a co-founder and Chairman of Advanced Energy Economy and board member of Khan Academy. Prior to joining General Catalyst, he was founder and CEO of a mobile applications company that was acquired in 2001. Hemant is a graduate of the Massachusetts Institute of Technology, earning an M.S. in Operations Research, an M.Eng. in Electrical Engineering & Computer Science, a B.S. in Mathematics, a B.S. in Electrical Engineering & Computer Science, and a B.S. in Biology & Biomedical Engineering.
To know more about Hemant, visit: https://www.itsmysun.com/about/