igrenEnergi, a startup focussed on storing and making use of solar energy has raised $1 million from Sunil Mehta, an active angel investor from New York area.
The startup was founded in 2013 by Jiten Apte, Dr. Sunit Tyagi and Sujit Dey. igrenEnergi makes use of its patented technology, energy packetization to store the solar energy, which can later be used by any industry to overcome the energy needs.
Operating in San Diego and Mumbai, the startup plans to launch the first product before the second quarter of this year. The first commercial product is an 8-panel solar optimizer and it will be launched in India followed by United States and European markets.
The raised funds will be used to fund the marketing activities along with expediting the process of launching the product.