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LOOM SOLAR raises USD 2 Million Funding from SIMA Funds, USA

New Delhi [India], January 18 (ANI/PNN): Emerging SolarTech start-up Loom Solar has raised USD 2 Million funding from US-based Social Investment Managers and Advisors (SIMA) under the Energy Access Relief Fund (EARF) supported by the World Bank, DFC, BII, FMO, IFC and others. The funding will support Loom Solar to achieve its goal of powering millions of homes in India in the medium term through sustainable solar energy. Loom Solar has been developing its capacity, continuously innovating, and building new product portfolio, and building a stronger brand and a deep distribution network across India. The start-up, manufacturing Bi-facial solar panels and Lithium battery, is headquartered in Faridabad, Haryana. Besides India,the four years old company exports its products to 10 countries largely in North America and Europe, under the Government of India's 'Make in India' initiative. Over 50,000 homes across India today are powered by Loom Solar, and the start-up is developing

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