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Solar energy solution provider Prozeal Infra Engineering has raised USD 4 million about Rs 32.5 crore in the first round of funding led by Alchemie Ventures.The investment is for a minority stake at an undisclosed valuation, according to a statement.Prozeal Infra Engineering Pvt Ltd has announced their first round of funding led by Chandrakant Gogris family office arm - Alchemie Ventures, the statement said.The funds will be used to scale up operations and execute developer-model projects for energy and utility companies.

Solar energy solution provider Prozeal Infra Engineering has raised USD 4 million (about Rs 32.5 crore) in the first round of funding led by Alchemie Ventures.

The investment is for a minority stake at an undisclosed valuation, according to a statement.

''Prozeal Infra Engineering Pvt Ltd has announced their first round of funding led by Chandrakant Gogri's family office arm - Alchemie Ventures,'' the statement said.

The funds will be used to scale up operations and execute developer-model projects for energy and utility companies. Incorp Advisory was the exclusive investment banker for the transaction, which represents the largest Series-A fundraising transaction in India's Solar EPC space in over 2 years, it added.

The Prozeal Infra is a home-grown venture founded by two Ahmedabad-based co-founders. The company already has an order book worth Rs 1,000 crore (USD 120 million) that will be fulfilled over the next 12 months. In FY25, they expect to exceed Rs 1,500 crore (USD 187.5 million) in revenue. *** Vikram Solar recognised in Fortune India's Next 500 list 2023 * Vikram Solar on Tuesday said it has been recognised in Fortune India's Next 500 list 2023.

In a statement, Vikram Solar said it is the only solar module manufacturing company to be ranked in the list of largest emerging companies. It has been ranked 167.

''It is recognition of our team's relentless focus towards innovation, delivering high-quality products and customer centricity. We remain steadfast in our resolve to help build a sustainable future and enable the global clean energy transition,'' Gyanesh Chaudhary, Chairman & Managing Director of Vikram Solar, said.

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