Company Profile
| Company Name | Loom Solar |
| Headquarter | Faridabad, Haryana (India) |
| Industry | Solar Panel Manufacturing |
| Founded | 2018 |
| Founder | Amol Anand |
| Website | http://www.loomsolar.com/ |
(Founder)
When and how did you start?
Loom Solar was started in Feb 2018 with the goal of “providing power supply to everyone in this country.
How did you come up with the idea? Your inspirational moment
Amol got the idea for Loom Solar while he was working at Luminous Power Technology as a product manager. He learned that solar energy is great and it has many advantages. He did a lot of research on things like government rules, goals, and how things are right now in India. He and his brother realized that there was a chance to do something new in the market. They noticed that nobody was using solar energy for homes on a big scale. So, they came up with the idea for Loom Solar.
Brief about the organization and founding members
Loom Solar is India’s No.1 leading solar company based in Faridabad, Haryana. “Started in 2018, the company has become well-known in the clean energy field very fast. It is an ISO 9001:2015-certified company and a government-recognized startup in India. Loom Solar specializes in the manufacture of high-quality solar panels, inverters, batteries, and related solar products for the residential, commercial, and industrial sectors. Their products are known for their durability, quality, performance, and latest technology. The company has a widespread network of dealers and distributors across 500 districts in India, with 3,500 dealers, 100 employees, two offices, and one manufacturing unit.
Amol Anand (Cofounder)
Amol Anand really loves his job! He worked in big companies like Telecom, Real Estate, and Home Electrical before he started his own company called “LOOM SOLAR”. He’s a smart guy who likes to learn new things, and he has a degree of MBA from IMT Ghaziabad. Right now, he’s in charge of the marketing and sales department of LOOM SOLAR.
Amod Anand has a special degree called MBA from IMT Ghaziabad. He has worked in different jobs in big companies like Telecom and e-commerce for many years. He worked at Bharti Airtel for more than 5 years, where he helped make the Mobile business better. Now, he takes care of money and how things work at Loom Solar.
The detailed journey, like what all you want to share with readers.
Amol used to work as a product manager at Luminous Technology Private Limited, where they focused on solar products. During this time, Amol noticed that many people in the country didn’t know much about solar energy.
When Amol and his brother investigated it, they discovered three big problems with the use of solar energy in the country:
- Not enough information and knowledge about solar energy.
- Not many solar products are available all over the country.
- Solar technology was outdated.
To help people learn more about solar energy and make it easier for them to use solar energy, both brothers started a company called Loom Solar. And then, in 2018, we formed Loom Solar and started with the idea of providing a power supply to everyone without letting them wait for hours and days for electricity.
Since from the start, Loom Solar has achieved many awards and recognition.
• Golden Bridge Awards 2019
• Amazon Smbhav 2020
• Startup of the Year 2021
• Energy Business of the Year 2021
• Tie-Lumis Award 2022
• e4m D2C Award 2022
• Red Herring Award 2022.
Amol and Amod have some exciting goals for the upcoming years. They want to be the best and most trusted solar brand by 2025. They plan to make their products even better by using new technology. They also plan to reach more people and earn Rs. 1000 Crores by 2025.
About funding
Loom Solar raised the funding of $2 million in funding from US-based Social Investment Managers and Advisors (SIMA) under the Energy Access Relief Fund (EARF) supported by the World Bank, DFC, BII, FMO, IFC, and others.
Challenges and Opportunities/ Marketing Strategies
Marketing Strategies
No Experienced centers for solar products in the local markets (3,500 shops across India, including rural areas)
- Solar Awareness (we started to make videos about solar products and published them on YouTube & Facebook. Now, we have 1.73L subscribers and 1.02L followers on Facebook. We also taking the help of influencers to reach more people. We are reaching 100M+ people every year through digital platforms.
- Solar Finance (The cost of solar system installation is higher after home and car, so provide easy financing options. The consumer can only pay 20-30% down payment, and they can make flexible EMI options equal to current electricity bills.)
- Engineer Visit (A solar system installation is technical homework. Most consumers don’t have an idea how much capacity of the solar power plant is required for their homes and businesses. To make an easy process of rooftop solar installation, we provide an engineer visit across India. This is a paid service in which our engineer visits the consumer’s site location. Then, we provide a solar quotation.)
- Learn Solar (This is our free training program in which any person can learn about solar. This is an online program.)
Challenges
At the time of the start, the big challenge for Loom Solar was to fight against the big brands, establish itself as a trustworthy brand, and gain customer support and trust. Achieving these things in the market was the biggest challenge at the initial stage, and making a good brand value in the solar sector and building trust among the customers.
The coronavirus made fewer people want to buy things, so stores didn’t sell as much. This happened because lockdowns stopped people from shopping in local stores. Amol Anand noticed that small businesses that make things had a hard time, especially with having enough money. But big businesses that make things already had orders from construction companies, so they weren’t hurt as much.
To gain customers’ trust, we started quick delivery of solar products and installation services. We also compete with product pricing and quality and the integrity of Loom Solar, says Loom Solar Team.
Our biggest challenge was our limited budget. We needed to do a lot of things like promoting our product and brand, getting customers, making solar products people wanted, and giving fast service. And we had to do all of this with not much money. Luckily, our team was helpful and worked hard to make the most of what we had.
Future Plans & plans for growth
- In 2023, Loom Solar could make 5,00,000 solar panels in a year. They’re planning to make even more panels in the future.
- Loom Solar will keep making better and more advanced technology solar panels and solar products so they work well and save lots of energy.
- When it comes to the market, Loom Solar’s goal is to be the top choice by 2025. They aim to make up 3,500+ dealers and distributors network at PAN India level and the retail store of loom solar in 500 cities.
- Loom Solar also working on the EMI/Loan to make the finance part easy for consumers who cannot afford solar systems in one big amount.
- Loom Solar wants to give clean and never-ending energy to every home. They want to get big, like three times bigger than they are now.
3,500+ Shops – Through 3,500+ retail stores in 500 cities
For More details:
Website: http://www.loomsolar.com/
LinkedIn: https://in.linkedin.com/company/loom-solar
Facebook: https://www.facebook.com/loomsolar
Instagram: https://www.instagram.com/loomsolar/
Twitter: https://twitter.com/loomsolar
Who is Amol Anand?
Who is the founder of Loom Solar?
Where is the headquarter of Loom Solar?
What is Loom Solar ?
Engineer | Content Writer
Want to be a catalyst for a positive change in the world
Disclaimer -We have collected this information from our direct sources, various trustworthy sources on the internet and the facts have been checked manually and verified by our in-house team.