GVFL, one of India’s most established venture capital firms, has led a $12 million funding round in Soleos Solar Energy, a fast-growing renewable energy solutions and EPC provider with operations across India, Africa, and Europe. GVFL has invested $2.5 million in the round, which also saw participation from Tipsons Group, Navin Dalmia, various family offices, and increased commitments from several existing investors.
Founded in 2017 by Bhavesh Rathod, Soleos operates a uniquely integrated renewable energy platform that brings together project development, consumer sourcing, investor onboarding, capital structuring, EPC delivery, and long-term asset management under one unified system. This model helps reduce development, execution, and performance risks—key challenges that often slow down renewable energy infrastructure growth.
Over the past eight years, the company has delivered projects in India, Ghana, Uganda, and Portugal, developed solar parks, executed smart city programs, and built consumer-led solar energy solutions catering to both commercial and industrial sectors.
The newly raised capital will accelerate Soleos’ expansion plans, including:
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Scaling its development pipeline across priority geographies
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Funding project construction in India and selected global markets
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Strengthening investor governance frameworks
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Expanding group-captive and consumer-led energy models
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Building integrated solar-plus-storage capability, supported by its new in-house battery energy storage manufacturing
With this fundraise, Soleos aims to transition from a primarily solar execution company into a round-the-clock renewable energy solutions provider, enhancing grid reliability and addressing peak-demand challenges.
Speaking about the investment, Mihir Joshi, Managing Director of GVFL, said:
“Soleos has built a robust platform that addresses the structural gaps in renewable infrastructure creation. Its integrated approach provides clarity and confidence for investors, which is essential for scaling clean energy. We believe the company is well positioned to play a key role in India’s energy transition and expand its presence internationally.”
Bhavesh Rathod, Founder of Soleos, added:
“Our mission has always been to bridge the energy and investment gaps through reliable, investor-grade renewable infrastructure. This fundraise strengthens our ability to build ready-to-deploy assets, deepen our consumer and investor networks, and accelerate our shift into round-the-clock renewable capability.”
Soleos plans to expand across India and selected global markets over the next year, with a focus on storage-led, grid-supportive solutions that enable commercially efficient renewable power supply. Over the long term, the company aims to evolve into a global platform known for consistent execution and dependable clean energy delivery.
By: Arushi Agarwal
