Opes invests in Indian start-up Boond

Cleantech start-up Boond Engineering & Development has raised an undisclosed amount of investment in its Series A round led by Opes Impact fund. Two members of the Ennovent Circle – Rianta Capital and Sumantra Roy also participated in this round.

The funding will be taken to fund growth and scale up the business and penetrate into newer gepgraphies. Boond provides affordable, clean energy access to the remote, rural parts of India along with servicing solar power centers and designing cleantech equipments including solar light systems, solar light bulbs, biomass gas stoves, solar AC inverter systems and solar water pumps.

Founded in 2012 by Rustam Sengupta, Boond also provides training and skill development to local rural entrepreneurs to promote, sell and service development products like solar lamps and home systems, water filters, water pump, mosquito nets and cookstoves.

The company plans to expand into 20 hubs and 100+ micro franchise units. It has so far done 7500 installations till date in Rajasthan and UP.

Opes Impact Fund [link contents currently available only in Italian] is the first international Italian impact investment fund targeting early-stage ventures in East Africa and India. It has partnered with FemS3 in India to provide local support such as screening of potential investment targets and due diligence.

OPES is interested in energy, agriculture, water and sanitation, health, education and fair trade.

Editor’s Note:  This article first appeared on DealCurry on August 18, 2014.  A previous article on Boond appeared in MoneySpentWell in January 2014.

Leave a Reply

Your email address will not be published. Required fields are marked *