Indian power-savings firm may get IFC funding

The International Finance Corporation may help an Indian power-saving solutions firm named Ecolibrium Energy raise up to US$ 1.5 million.

The Ahmedabad-based, start-up company provides a technology platform to monitor and control electricity usage for commercial and industrial customers, thereby achieving energy efficiency.

It has plans to extend to power grid infrastructure management and renewable project energy monitoring, says IFC.

The Company is looking to raise up to US$ 1.5 million, with IFC contributing to a large part of the capital raise. It intends to utilize the funds to expand its presence in the energy efficiency space by strengthening its product capabilities and reaching out to a larger customer base.