About Waaree Energies
Waaree Energies is a company based in Mumbai (India) founded in 1990 by Hitesh Chimanlal Doshi was acquired by Baumer Group in December 2010.. Waaree Energies has raised $262.8 million across 4 funding rounds from investors including Goldmedal Electricals, Centrum and Cybage. The company has 8,690 employees as of March 31, 2024. Waaree Energies has completed 4 acquisitions, including Enel Green Power, Kamathtrafo and SunBreeze. Waaree Energies offers products and services including PV Module, Inverter, and EPC Solutions. Waaree Energies operates in a competitive market with competitors including Trina Solar, Kyocera, Su-Kam Power Systems, Mose Solar and Navitas Solar, among others.
- Headquarter Mumbai, India
- Employees 8690 as on 31 Mar, 2024
- Founders Hitesh Chimanlal Doshi
- Stage Public
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Sectors
Energy & Utilities
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Waaree Energies Limited
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Annual Revenue
$1.68 B (USD)26.54as on Mar 31, 2024
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Net Profit
$218.11 M (USD)50.94as on Mar 31, 2024
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EBITDA
$323.13 M (USD)74.68as on Mar 31, 2024
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Total Equity Funding
$262.8 M (USD)
in 4 rounds
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Latest Funding Round
$246.74 M (USD), Unspecified
Sep 07, 2022
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Investors
Goldmedal Electricals
& 103 more
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Employee Count
8690
as on Mar 31, 2024
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Investments & Acquisitions
Enel Green Power
& 3 more
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Acquired by
Baumer Group
(Dec 16, 2010)
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IPO & Listings of Waaree Energies
Waaree Energies is a publicly listed company on the NSE with ticker symbol WAAREEENER in India, operating in the Electronic technology sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
Products & Services of Waaree Energies
Waaree Energies offers a comprehensive portfolio of products and services, including PV Module, Inverter, and EPC Solutions. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Manufactures photovoltaic modules for energy generation and sustainability.
Converts solar DC to AC for domestic and commercial use.
Provides engineering and maintenance for solar installations.
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Funding Insights of Waaree Energies
Waaree Energies has successfully raised a total of $262.8M across 4 strategic funding rounds. The most recent funding activity was a Unspecified round of $246.74 million completed in September 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Unspecified — $246.7M
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First Round
First Round
(08 Mar 2014)
- Investors Count 103
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep, 2022 | Amount | Unspecified - Waaree Energies | Valuation | Dharamshi Securities | |
| Dec, 2017 | Amount | Unspecified - Waaree Energies | Valuation |
investors |
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| Dec, 2014 | Amount | Unspecified - Waaree Energies | Valuation | Samir Shah , Trusha Jhaveri |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Waaree Energies
Waaree Energies has secured backing from 104 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Goldmedal Electricals, Centrum and Cybage. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Venture capital firm focused on tech sectors
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Founded Year | Domain | Location | |
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Private equity investments are directed toward multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital fund focused on early-stage startups
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Waaree Energies
Waaree Energies has strategically engaged in corporate development activities, having acquired 4 companies. Notable acquisitions include Enel Green Power, Kamathtrafo and SunBreeze. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Manufacturer of fabricated metal products
|
2009 | ||||
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Operator of hydro, geothermal, wind, solar, and biogas power plants
|
2008 | ||||
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Custom-designed industrial transformers are manufactured for various applications.
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0 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
|
2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Waaree Energies
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Waaree Energies Comparisons
Competitors of Waaree Energies
Waaree Energies operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Trina Solar, Kyocera, Su-Kam Power Systems, Mose Solar and Navitas Solar, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Photovoltaic cells for PV and smart energy solutions are developed.
|
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| domain | founded_year | HQ Location |
Kyocera is engaged in providing technology solutions globally.
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| domain | founded_year | HQ Location |
Solar panels and power storage products are manufactured.
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| domain | founded_year | HQ Location |
PV modules, solar tiles, and related solar products are manufactured.
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| domain | founded_year | HQ Location |
Manufacturer of solar panel
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| domain | founded_year | HQ Location |
PV modules are manufactured by HHV Solar Technologies in India.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Waaree Energies
Frequently Asked Questions about Waaree Energies
When was Waaree Energies founded?
Waaree Energies was founded in 1990 and raised its 1st funding round 24 years after it was founded.
Where is Waaree Energies located?
Waaree Energies is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Who is the current CEO of Waaree Energies?
Amit Paithankar is the current CEO of Waaree Energies.
Is Waaree Energies a funded company?
Waaree Energies is a funded company, having raised a total of $262.8M across 4 funding rounds to date. The company's 1st funding round was a Unspecified of $177.43K, raised on Mar 08, 2014.
How many employees does Waaree Energies have?
As of Mar 31, 2024, the latest employee count at Waaree Energies is 8,690.
What is the annual revenue of Waaree Energies?
Annual revenue of Waaree Energies is $1.68B as on Mar 31, 2024.
What does Waaree Energies do?
Waaree Energies was founded in 1990 in Mumbai, India, and operates in the renewable energy sector. Solar photovoltaic modules, including mono, poly, bifacial, and flexible variants, are produced. Comprehensive services are provided, such as installations for rooftop and ground-mounted solar power plants, floating solar systems, water pumps, street lighting, energy storage solutions, green hydrogen projects, operations, maintenance, and turnkey EPC contracts.
Who are the top competitors of Waaree Energies?
Waaree Energies's top competitors include Trina Solar, Kyocera and Navitas Solar.
What products or services does Waaree Energies offer?
Waaree Energies offers PV Module, Inverter, and EPC Solutions.
Is Waaree Energies publicly traded?
Yes, Waaree Energies is publicly traded on NSE under the ticker symbol WAAREEENER.
How many acquisitions has Waaree Energies made?
Waaree Energies has made 4 acquisitions, including Enel Green Power, Kamathtrafo, and SunBreeze.
Who are Waaree Energies's investors?
Waaree Energies has 104 investors. Key investors include Goldmedal Electricals, Centrum, Cybage, Baumer Group, and Goldiee Group.
What is Waaree Energies's ticker symbol?
The ticker symbol of Waaree Energies is WAAREEENER on NSE.
What is Waaree Energies's valuation?
The valuation of Waaree Energies is $1.75B as of Sep 2022.