Mahindra & Mahindra-backed solar lantern and system provider D.light has raised $41m from Inspired Evolution, Swedfund, Norfund and FMO.
D.light, an US-headquartered solar lighting product supplier backed by conglomerate Mahindra & Mahindra, secured $41m yesterday in a funding round led by investment adviser Inspired Evolution.
Swedish state-backed development bank Swedfund, Norwegian government-owned private equity fund Norfund and Netherlands-based development bank FMO also took part in the round, which enabled undisclosed early investors to exit the company.
Founded in 2007, D.light produces solar-powered lighting and power products it distributes to customers in developing nations through regional hubs in East and…
