Venture capital firm GVFL has led a $12 million funding round in Soleos Solar Energy, a rapidly growing renewable energy solutions provider with a presence across India, Africa, and Europe. GVFL contributed $2.5 million to the round, which also saw participation from Tipsons Group, Navin Dalmia, and select family offices, alongside increased commitments from several existing investors.
The newly raised capital will be used to expand Soleos’ development pipeline, fund construction across priority geographies, strengthen investor governance systems, and scale group-captive projects. The company has recently started manufacturing in-house battery energy storage systems, and this latest fundraise is expected to support its transition from primarily a solar execution specialist to a round-the-clock renewable solutions provider.
“Soleos has built a robust platform that addresses the structural gaps in renewable infrastructure creation,” said Mihir Joshi, managing director of GVFL. “We believe the company is well placed to play a key role in India’s energy transition and expand its presence internationally.”
Founded in 2017 by Bhavesh Rathod, Soleos operates an integrated platform that combines project development, consumer sourcing, investor onboarding, capital structuring, and long-term asset management. Over the years, the company has successfully delivered projects in India, Ghana, Uganda, and Portugal, developing solar parks, executing smart-city programs, and building a diverse portfolio of solutions for commercial and industrial consumers.
“The successful fundraise strengthens our ability to build ready-to-deploy assets, expand our consumer and investor networks, and accelerate our move into round-the-clock renewable capability,” said Bhavesh Rathod, founder of Soleos.
Looking ahead, Soleos plans to expand its footprint across India and selected international markets over the next year. The company aims to develop storage-led, grid-supportive solutions that support peak-demand management and commercially efficient renewable supply. In the long term, Soleos envisions evolving into a global platform known for consistent execution and dependable energy delivery, cementing its position as a comprehensive renewable energy solutions provider.
With this funding, Soleos is poised to strengthen its capabilities in renewable infrastructure, energy storage, and integrated energy solutions, supporting India’s energy transition and its expansion into global markets.
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