The Mahindra & Mahindra-backed solar system supplier has closed $15m in series D funding alongside $7.5m in debt and grant financing.
D.light, a US-headquartered solar energy and light system producer backed by conglomerate Mahindra & Mahindra, has raised $22.5m in financing, $15m of which consisted of equity funding.
The series D equity capital was provided by KawiSafi Ventures Fund, Energy Access Ventures, Omidyar Network and NewQuest Capital Partners, and was raised alongside $2.5m in debt financing from SunFunder.
Shell Foundation, US Agency for International Development – Development Innovation Ventures and United Nations Capital Development Fund were among the backers that added…
