Roorkee-based photo voltaic and power-backup options maker Eapro International has raised Rs 40 crore in a funding spherical because it prepares for a proposed IPO in FY28.

The spherical noticed participation from institutional investors, household workplaces and particular person buyers, together with Aarth AIF Development Fund, NAV Bharat Funding Alternatives Fund, VentureX Fund, Kyro India Alternatives Fund-I and Juggilal Kamlapat Lakshmipat (JK Household Workplace).

Eapro stated the contemporary capital will likely be used to broaden manufacturing capability, strengthen its know-how capabilities and improve its presence in India’s renewable vitality and power-backup markets.

Kyro Capital acted as the only transaction adviser for the fundraise, dealing with investor identification, transaction structuring and closure.

The deal additionally marks the primary investment by Kyro India Alternatives Fund-I, a SEBI-registered Class II different funding fund managed by Kyro Asset Administration.

Eapro manufactures photo voltaic inverters, batteries and vitality storage techniques for residential, business and industrial clients.

The startup reported income of Rs 346.39 crore in FY26, up 73.5% from Rs 199.61 crore in FY25.

Earnings earlier than curiosity, taxes, depreciation and amortisation (EBITDA) elevated 65.7% to Rs 44.30 crore from Rs 26.73 crore throughout the identical interval, whereas PAT rose 64.4% to Rs 30.54 crore in FY26 from Rs 18.58 crore a 12 months earlier.

It’s concentrating on an IPO in FY28 and is in discussions with potential lead managers and buyers as a part of preparations for the proposed itemizing.

“Power storage techniques and photo voltaic inverters are set to be on the very core of India’s vitality future. Because the nation accelerates its transition in the direction of renewable vitality and larger grid resilience, the demand for dependable, indigenous power-backup and storage options will solely intensify,” stated Jagdeep Chauhan, Managing Director of Eapro International.

“This fundraise strengthens our steadiness sheet and positions Eapro to scale manufacturing capability, deepen our know-how capabilities, and seize this quickly increasing alternative. We’re concentrating on our preliminary public providing for FY28 and are already in energetic discussions with lead managers and potential buyers as we put together for that milestone,” Chauhan added.

Aman Maheshwari, founder and fund supervisor of Kyro India Alternatives Fund-I, stated the fund expects development in vitality storage and power-backup options as India’s adoption of renewable energy will increase and demand for dependable energy rises.