image credit : Fourth Partner

Indian based Solar energy company which was started 2010 to provide solar energy services to various institutions, corporations and consumers has raised a huge $70 million in a Series B investment round from notable private equity giant TPG who invested through its Rise Fund.

This brings the total investment that the sustainable energy company has gotten to $72 million in addition to its Series A round which fetched $2 million 3 years ago for the company’s growth and operations expansion.

Fourth Energy which was founded by 3 entrepreneurs 8 years ago and currently counts beverage giant Nestlé, Axia bank, Ferrero SpA and Airtel amongst its customers provides long term solar power purchase and offers a real-time monitoring platform for customers to get live statistics on their installations and has garnered over 80 notable customers so far.

TPG’s The Rise Fund will make use of its network of investments and extensive company growth experience to work with Hyderabad based Fourth Energy on its expansion and slated growth which will be very beneficial to the sustainable energy company.

TPG is widely noted and recognized for its investments in several companies around the globe which has yielded huge returns and also provided for huge growth of these companies with so many previous notable bets.

 The Rise Fund which is a collaborative global impact fund and counts notable tech tycoons including LinkedIn co-founder Reid Hoffman, e-Bay co-founder Pierre Omidyar, and Laurene Powell Jobs amongst its board raised a huge $2 Billion last year has made recent bets on Internet of Things tech unicorn C3, SaaS data platform Dharma, Smart Oven developer Brava and fintech startup Acorns amongst other companies which represents a good investment track record which will be of good advantage to Fourth Partner.

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