Aegeus Technologies Secures Funding from Caspian Debt for Working Capital and Expansion

Aegeus Technologies, an innovative provider of IoT-driven green robotics solutions, has raised an undisclosed amount of venture debt from Caspian Debt. The funds will be utilized to bolster the company’s working capital and support its expansion initiatives. Aegeus Technologies, founded in 2017 by Suraj Vernekar and Nishith Shah, leverages robotics, artificial intelligence (AI), and machine learning (ML) to revolutionize the operation and maintenance (O&M) of solar plants in India.

The company’s flagship product, the Intelligent Waterless Solar Panel Cleaning Robots, is currently deployed across more than 8GW of solar plants in India. These advanced robots are designed to enhance the efficiency of solar panel cleaning and provide predictive monitoring of module health, offering significant water savings and reducing manual labor.

Aegeus Technologies’ growth reflects the rapidly evolving landscape of the solar sector in India. As technology continues to transform every aspect of this sector, Aegeus Technologies stands at the forefront with its cutting-edge solutions. Commenting on the transformative potential of waterless technology, the company stated, “Waterless technology will save a lot of water and manual effort. It thus will bring an enhanced return on investments and efficiency in solar panel cleaning and predictive monitoring of the health of modules for both utility-scale and rooftop solar panel cleaning along with vegetation management.”

The funding transaction was facilitated by Innoxpark Ventures Pvt Ltd, a firm founded by Jyoti Prakash. The partnership with Caspian Debt underscores the confidence in Aegeus Technologies’ innovative approach and its ability to scale.