GVFL Leads $12M Funding in Soleos Solar to Drive Global Renewable Expansion

(L-R) Dhruvil Soni - Investment Associate GVFL, Saurabh Nair - SVP GVFL, Mihir Joshi - MD GVFL, Bhavesh Rathod - CEO Soleos, Pritesh Mehta - CFO – Soleos

GVFL, one of India’s pioneering venture capital firms, has led a $12 Million funding round in Soleos Solar Energy, a rapidly growing renewable energy solutions and EPC service provider with a presence across India, Africa, and Europe. GVFL invested $2.5 Million in the round, which also saw participation from Tipsons Group, Navin Dalmia, and select family offices, along with increased commitments from several existing investors.

Founded by Bhavesh Rathod in 2017, Soleos operates an integrated platform that combines project development, consumer sourcing, investor onboarding, capital structuring, EPC delivery, and long-term asset management under a single system. The model reduces development, execution, performance, financial, and scalability risks that typically slow down the expansion of renewable energy infrastructure. Over the last eight years, the company has delivered projects in India, Ghana, Uganda, and Portugal, developed solar parks, executed smart city programmes, and built a portfolio of consumer-led energy solutions that support both commercial and industrial demand.

The newly raised capital will be deployed towards expanding Soleos’ development pipeline, funding construction across priority geographies, strengthening investor governance systems, scaling group-captive and other consumer-led energy models, and building integrated solar-plus-storage capability. The company recently began manufacturing in-house battery energy storage systems. The latest fundraise is expected to support its transition from primarily a solar execution specialist to becoming a round-the-clock renewable solutions provider.

Commenting on the investment, Mihir Joshi, Managing Director of GVFL, said, “Soleos has built a robust platform that addresses the structural gaps in renewable infrastructure creation. Its integrated approach across development, execution, and long-term performance provides clarity and confidence for investors, which is essential for scaling clean energy. We believe the company is well placed to play a key role in India’s energy transition and expand its presence internationally.”

Bhavesh Rathod, Founder of Soleos, said, “From the beginning, our mission has been to bridge both the energy gap and the investment gap through reliable, investor-grade renewable infrastructure. This 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. The participation of GVFL and other premier investors is an important validation of our approach and long-term institutional focus.”

Soleos plans to expand its footprint across India and selected international markets over the next year. It aims to build storage-led, grid-supportive solutions that support peak-demand management and commercially efficient renewable supply. In the long run, Soleos envisions evolving into a global platform known for consistent execution and dependable energy delivery.