Solar energy company Ellipsol and eatables brand Madmix raised early-stage funding, the companies said on Wednesday.
Ellipsol secured $300,668 (Rs 2.5 crore) in a seed funding round led by early-stage venture capital firm Capital A. The round also saw participation from Anicut Capital’s Grand Anicut Fund along with other undisclosed investors.
The startup aims to use these funds to take the prototype to the production level. It would also be used for some of the pilot projects in the initial stages. The company will also focus on expanding capacities.
Ellipsol is a climatetech startup focussed on providing clean and green energy to its end customers at an affordable price by way of its proprietary technology.
Ellipsol’s patented enables users to harness more energy from the installed solar panels by ensuring precise control over the amount of solar radiation falling on them.
“At Ellipsol, we aim to bridge this gap and make renewable energy available at will. Our patented technology will help harness 100% more energy from the solar panels installed in your premises,” said Samarth Jain, co-founder and chief executive officer, Ellipsol.
Mel Sante Food Production Pvt. Ltd, which operates the healthy snack maker Madmix, earlier known as Daily Staple raised an undisclosed amount in its pre-seed funding round.
The round was led by Prime Securities and saw participation from Authum Investments and Team India Managers.
The investment will be utilised towards marketing efforts, sales team expansion and product development.
Founded by Gaurav Palrecha, Madmix has a range of ready-to-eat snacks made from millets like jowar in multiple flavours. They also have a millet-based ready-to-cook range which includes dosa, idli, chilla, bread mix, and flour mix.
The company has a presence in Nepal, Hong Kong, New Zealand, the US and India.
“These funds will enable us to achieve our growth numbers” said Palrecha, founder and director, Madmix.
