Greentech startup Virtual Forest raised funding from Napino

Green technology startup Virtual Forest has raised an undisclosed amount of funding from Napino Auto and Electronics Ltd against 15% equity stakes.Virtual Forest transforms ideas into innovative green technologies for home appliances like inverter air conditioners, BLDC ceiling fans, and solar pump controllers for Indian homes .

The startup said in a release that in the short span of eight months, Virtual Forest has established deep technology partnerships with large domestic appliance manufacturers — enabling them to look at the viable option of reducing their dependence on China, which supplies over 80 percent of the domestic demand for intelligent motor controllers and human interface electronics.

“The partnership with Napino gives us the manufacturing prowess needed to support the volumes that the domestic industry needs, which is growing at an average CAGR of 10 percent” said Omer Basith, Founding Director and CEO of Virtual Forest.

58 views0 comments
  • Amazon Social Icon
  • Facebook Social Icon
  • LinkedIn Social Icon
  • Twitter Social Icon
  • Instagram

© 2021 by StartupNews. Proudly created in India