When was Rayzon Solar founded?

Rayzon Solar was founded in 2017 and raised its 1st funding round 8 years after it was founded.

Where is Rayzon Solar located?

Rayzon Solar is headquartered in Surat, India. It is registered at 1104-1107 & 1109-1110, 11TH FLOOR, MILLENIUM BUSINESS HUB, OPP. DEEP KAMAL MALL, VARACHHA ROAD, SARTHANA JAKATNAKA, Varachha Road, Surat, Surat City, Gujarat, India, 395006.

Which legal entities is Rayzon Solar associated with?

Rayzon Solar is associated with RAYZON SOLAR LIMITED.

How many employees does Rayzon Solar have?

As of Apr 30, 2025, Rayzon Solar has 1196 employees, reflecting a 59% year-over-year growth in headcount.

Is Rayzon Solar a funded company?

Rayzon Solar is a funded company, having raised a total of $***** in its 1st and only funding round, a Series A round on Mar 25, 2025.

How much is Rayzon Solar worth?

The latest valuation of Rayzon Solar is $***** as of Mar 25, 2025.

When was the latest funding round of Rayzon Solar?

Rayzon Solar's latest funding was a $***** Series A round on Mar 25, 2025, with participation from 15 investors. Its primary sector is Solar Energy. In India, the Solar Energy sector has seen $1.61B in funding in 2026 to date.

What is the annual revenue of Rayzon Solar?

Annual revenue of Rayzon Solar is more than ₹1,000 Cr as on Mar 31, 2025

Where does Rayzon Solar rank among its competitors?

Rayzon Solar ranks 17th amongst 1880 active competitors, of which 103 are funded. It stands 8th in terms of total funding among its competitors. The most recent competitor to raise funding was Tandem PV, which secured $7.7M in Aug, 2026.

Who are the top competitors of Rayzon Solar?

Rayzon Solar's top competitors include Waaree Energies, First Solar and Vikram Solar. Among them, Tandem PV secured the most recent funding round in August, 2026.

Rayzon Solar - 2026 Company Profile, Team, Funding, Competitors & Financials

Company Details

Manufacturer of photovoltaic solar modules. It's an internationally renowned leading solar energy cost-effective befitting solutions provider having core competency in high-efficiency PV module manufacturing and providing wide range of EPC solutions.

Website: rayzonsolar.com
Social
Email ID: *****@rayzonenergies.com
Phone Number: +91 **********
Registered Address: 1104-1107 & 1109-1110, 11TH FLOOR, MILLENIUM BUSINESS HUB, OPP. DEEP KAMAL MALL, VARACHHA ROAD, SARTHANA JAKATNAKA, Varachha Road, Surat, Surat City, Gujarat, India, 395006

Key Metrics

Founded Year

2017

Location

Surat, India

Stage

Series A

Total Funding

$16.2M in 1 round

Latest Funding Round

Series A, Mar 25, 2025, $*****

Post Money Valuation

$***** as on Mar 25, 2025

Investors

Sachin Tendulkar & 83 more

Ranked

17^th among 1880 active competitors

Annual Revenue

₹1,000+ Cr as on Mar 31, 2025

Employee Count

1,196 as on Apr 30, 2025

Similar Companies

Vikram Solar & 1740 more

View Rayzon Solar's full profile

Rayzon Solar is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
RAYZON SOLAR LIMITED CIN: U29309GJ2022PLC133026 , India, Active	Jun 20, 2022	₹1,000+ Cr (As on Mar 31, 2025)	1448 (As on Apr 01, 2026)

Rayzon Solar has raised a total funding of $16.2M over 1 round. Its latest funding round was a Series A round on Mar 25, 2025 for $*****. 15 investors participated in its latest round. Rayzon Solar has 1 institutional investor and 83 angel investors.

Here is the list of recent funding rounds of Rayzon Solar:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Mar 25, 2025	3687475	Series A	8617189	4483899	1290844	6255713

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View details of Rayzon Solar's funding rounds and investors

The founders of Rayzon Solar is Hardik Kothiya.

Here are the details of Rayzon Solar's key team members:

Hardik Kothiya: Co-Founder & Managing Director of Rayzon Solar. They are also an angel investor in 3 startups.
Contact Info: 1 email address
Amit Barve: CEO of Rayzon Solar.
Contact Info: 1 email address and 1 phone number

Rayzon Solar's Board of Directors

Rayzon Solar's board has 5 active members. Induben Devchandbhai Nakrani, Devchandbhai Kalubhai Nakrani, Hardik Kothiya, Ashokbhai Manjibhai Kothiya and Ramilaben Ashokbhai Kothiya are independent board members.

Here is the list of Rayzon Solar's board of directors:

Name	Type	Representing	Status	Duration
cptgxl{	Team	-	Past	6y 7m
Induben Devchandbhai Nakrani	Independent board member	-	Current	4y 3m
vtlvvdx	Independent board member	-	Current	2y 4m
tazojqw	Independent board member	-	Current	7y 5m
jyrhi{v	Independent board member	-	Current	1y 4m
hta{cmz	Independent board member	-	Current	7y 6m

View details of Rayzon Solar's Founder profiles and Board Members

Rayzon Solar's employee count trend

Rayzon Solar has 1,196 employees as of Apr 25. The total employee count is 59.0% more than what it was in Apr 24. Here is Rayzon Solar's employee count trend over the years:

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Top competitors of Rayzon Solar include Waaree Energies, First Solar and Vikram Solar. Here is the list of Top 10 competitors of Rayzon Solar, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Waaree Energies 1990, Mumbai (India), Public	Manufacturer of solar PV modules	$261M	ValueQuest, Dharamshi Securities & 189 others	74/100
2nd	First Solar 1999, Tempe (United States), Public	Provider of cadmium telluride-based flexible solar modules	-	Triodos Investment Management, GSA Capital Partners ... & 1 others	72/100
3rd	Vikram Solar 2005, Kolkata (India), Public	Manufacturer of solar photovoltaic modules and renewable energy solutions	$86.9M	Monolink Trexim, Viney Equity Market & 67 others	69/100
4th	Jinko Solar 2006, Shanghai (China), Acquired	Manufacturer of solar modules	$35M	China Israel Value Capital, Pitango & 5 others	68/100
5th	Swift Solar 2017, Golden (United States), Series A	Provider of flexible perovskite solar cells	$42.4M	Eni Next, Good Growth Capital & 20 others	67/100
6th	Suniva 2007, Norcross (United States), Acquired	Manufacturer of solar PV modules	$224M	Warburg Pincus, New Enterprise Associates ... & 10 others	66/100
7th	Premier Energies 1995, Secunderabad (India), Public	Manufacturer and supplier of solar cells and modules with a focus on sustainable energy solutions	$44M	Eclat Health, Intersolar & 7 others	65/100
8th	Tandem PV 2017, San Francisco (United States), Series A	Developer of a perovskite-based solar cell	$64.4M	Planetary Technologies, Incite & 13 others	65/100
9th	GREW 2022, Ahmedabad (India), Series A	Manufacturer of solar modules and provider of solar energy solutions	$3.46M	Chiripal Group, Vishal Fabrics & 3 others	64/100
10th	Saatvik Green Energy 2015, Gurugram (India), Public	Manufacturers of solar PV modules	-	-	64/100
17th	Rayzon Solar 2017, Surat (India), Series A	Manufacturer of photovoltaic solar modules	$16.2M	-	60/100

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Founders own 31.66%, Enterprises own 0.04%, Angels own 1.80% and Other People (largest shareholder) own 63.31%. The net worth of Rayzon Solar's founders is INR 2,340Cr as of Mar 25, 2025.

Shareholders Name	Post Round Holding %	Net worth	Cumulative Investment	Realised Returns	Unrealised Returns	Return Multiple
Founder	31.66%	2,340Cr	9646710	5432662	4131810	5091578
Hardik Kothiya	4036397	8188643	7213617	1184943	4499526	1332290
Enterprise	0.04%	3.21Cr	0	0	0	0
Angel	1.80%	134Cr	8	4	7	4
Divyang Patel	0	0	0	0	0	0
Other People	63.31%	4,680Cr	3788265	8215192	6981712	1776981
ESOP Pool	3.17%	234Cr	913	801	601	340
Total	99.98%	7,390Cr	6669403	2215139	5745964	6928041