Series B · Climate tech
Candi Solar closes Series B led by STOA
Energy Entrepreneurs Growth Fund, Gaia Impact Fund and existing shareholders joined the financing.
Candi Solar announced the closing of its Series B round on September 1, 2022. STOA led the financing, joined by the Energy Entrepreneurs Growth Fund, Gaia Impact Fund and other existing shareholders. The amount was not disclosed.
The investment supports new commercial and industrial solar projects in India and expansion across Africa, particularly South Africa. Candi combines financing with engineering and long-term operation so businesses can adopt solar power through contracts tailored to their needs.
Use of funds
Finance new solar projects for commercial and industrial customers in India and South Africa