Aegeus Technologies raises undisclosed funding from Caspian Debt

IoT-driven green robotics solutions provider Aegeus Technologies has raised an undisclosed amount from Caspian Debt.

The funds will be utilized for working capital to support the company’s ongoing operations and expansion initiatives.

Harnessing the power of robotics, artificial intelligence (AI), and machine learning (ML), Aegeus Technologies is revolutionizing the operation and maintenance (O&M) of solar plants. The company’s flagship product, Intelligent Waterless Solar Panel Cleaning Robots, is already making a significant impact, being installed in solar plants with a combined capacity of more than 8GW across India.

Founded in 2017 by Suraj Vernekar and Nishith Shah, Aegeus Technologies has a focus on AI and IoT enabled robotics for automating the O&M of solar plants.

Commenting on the impact of their technology, they said, “The face of the solar sector in India is evolving dramatically with technology transforming its every facet. Waterless technology will save a lot of water and manual effort.  It thus will bring enhanced return on investments and efficiency in solar panel cleaning and predictive monitoring of health of modules for both utility scale and rooftop solar panel cleaning along with vegetation management.”

The transaction was introduced by Innoxpark Ventures Pvt Ltd, founded by Jyoti Prakash.

The Solar PV market is at the point of inflection and Aegeus Technologies is one of leading companies with reputed clients and is poised to scale.