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Eapro Global raises $4.8M as Roorkee solar maker prepares FY28 listing
The solar inverter and energy storage manufacturer drew institutional investors, family offices and individuals including Aarth AIF Growth Fund, NAV Bharat Investment Opportunities Fund and VentureX Fund, after FY26 revenue rose 73.5%.
Eapro Global, the Roorkee-based maker of solar inverters, batteries and energy storage systems for residential, commercial and industrial customers, has raised $4.8M as it lays the groundwork for a public listing in FY28.
The round drew participation from institutional investors, family offices and individual investors, including Aarth AIF Growth Fund, NAV Bharat Investment Opportunities Fund, VentureX Fund, Kyro India Opportunities Fund-I and Juggilal Kamlapat Lakshmipat (JK Family Office). Kyro Capital acted as sole transaction adviser for the fundraise, handling investor identification, transaction structuring and closure.
The deal also marks the first investment by Kyro India Opportunities Fund-I, a SEBI-registered Category II alternative investment fund managed by Kyro Asset Management.
Eapro said the fresh capital will be used to expand manufacturing capacity, strengthen its technology capabilities and increase its presence in India's renewable energy and power-backup markets.
The raise lands on the back of a strong FY26. Revenue rose 73.5% to Rs 346.39 crore from Rs 199.61 crore in FY25. Earnings before interest, taxes, depreciation and amortisation increased 65.7% to Rs 44.30 crore from Rs 26.73 crore, while profit after tax climbed 64.4% to Rs 30.54 crore from Rs 18.58 crore a year earlier.
"Energy storage systems and solar inverters are set to be at the very core of India's energy future," said Jagdeep Chauhan, Managing Director of Eapro Global. "This fundraise strengthens our balance sheet and positions Eapro to scale manufacturing capacity, deepen our technology capabilities, and capture this rapidly expanding opportunity."
Chauhan said the company is targeting its initial public offering for FY28 and is already in active discussions with lead managers and prospective investors as it prepares for that milestone.
Aman Maheshwari, founder and fund manager of Kyro India Opportunities Fund-I, said the fund expects growth in energy storage and power-backup solutions as India's adoption of renewable energy increases and demand for reliable power rises.
Press
Energy storage systems and solar inverters are set to be at the very core of India's energy future. As the country accelerates its transition towards renewable energy and greater grid resilience, the demand for reliable, indigenous power-backup and storage solutions will only intensify.
About the Company
Roorkee-based solar and power-backup solutions maker Eapro Global has raised Rs 40 crore in a funding round as it prepares for a proposed IPO in FY28.