Energy distribution startup Repos Energy plans to raise Rs 100-300 crore in Series A funding round for building technology and enhancing geographical reach, its co-founder Aditi Bhonsale Walunj has said.
The company is expecting to raise the capital in the next 6-8 months, and is in discussion with various investors including private equity as well VC investors, she said.
The Pune-based firm, a supplier of diesel-dispensing browser for door-step delivery to commercial buyers for fuel, has raised Rs 50-60 crore so far in both equity and debt, Walunj said.
Going ahead we are planning to raise around Rs 100-300 crore in our Series A round depending upon the right valuation that we get and the requirement at that time, Walunj said.
She said the capital raise could come from VCs, PE funds, HNIs or through a strategic partnership and the talks are going on with all of them.
The funds are going to be utilised primarily for expansion of geographical reach along with building technology as well as for other purposes.
We are aiming for a time frame of 6-8 months for raising this capital, Walunj added.
The firm, she said delivered a topline of Rs 72 crore in fiscal year 2022-23 and is expecting to more than double at around Rs 180 crore by March next year.
Our financial performance in the first two quarters of this year has been very good and it is in line with what we are planning to do to grow the business further, Walunj said.
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First Published: Oct 15 2023 | 8:16 PM IST