Loom Solar secures $2 million in fundraising

Loom Solar, a solar technology start-up based in Haryana, has raised $2 million in funding from US-based asset manager Social Investment Mana­gers and Advisors (SIMA Funds) to support its growth strategy for solar energy solutions. Loom makes bifacial solar panels as well as lithium batteries. The World Bank Group, the Development Finance Corporation, the British International Investment, and Dutch development bank FMO have contributed to the fundraising effort.