Funding Roundup: Scroll Secures Funding From Omidyar; The Chennai Angels invests in Fourth Partner Energy

The Chennai Angels has invested in Fourth Partner Energy Pvt. Ltd. (4PEL), a Hyderabad based company focussed on Distributed Solar Power. This round of investment was led by TCA investor members, Shankar V, Kayar Raghavan and Narayanan R.

Fourth Partner Energy was founded in 2010 by Vivek Subramanian, Saif Dhorajiwala and Vikas Saluguti. The Entrepreneurs have a strong background in financial management, contract structuring and fund raising. 4PEL has completed over 300 solar installations across the country with marquee public and private sector companies.

Having built an end-to-end capability including design, turnkey execution, servicing and financial structuring of captive solar assets, 4PEL is well positioned to take a leadership role in a disruptive market segment. 4PEL aims to finance, build, develop and manage a large operating portfolio of de-centralized solar power assets in India by positioning itself as full-services RESCO (Renewable Energy Services Company). The team works with commercial and industrial clients, to provide tangible commercial benefits, while significantly de-risking their technology and financial exposure.

—- Secures Funding From Omidyar Network

New media site, has raised funding from Omidyar network with participation from New York based MDIF (Media Development Investmetn Fund).

The investment was made into Scroll India’s US-based parent Scroll Media Inc [Via: VCCircle]

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