Parishi Capital Backs Navitas Solar’s 2.5 GW Milestone, Eyes 3 GW Expansion

Surat-based Parishi Capital, an investment house helmed by Aaryan Shah, backed Navitas Solar through two funding rounds, injecting $4.7 million into the company. The backing helped Navitas transition from a solar start-up to a national green-tech provider. 

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With $2.5 million and $2.2 million invested in Navitas Solar’s earlier funding rounds, Parishi Capital continued to support the company to scale up to 2.5 GW solar module manufacturing capacity.  What is more, Parishi Capital plans to invest $ 10-15 million in renewable energy or green power over the next 1-2 years, including solar plants and recycling companies.

Parishi Capital has previously invested in the green energy and renewables space, including companies such as Navitas, Solnce, Apollo Green, Vikram Solar, BatX Energy, Zero Circle, and others, creating a diverse sustainability portfolio.

Company's Goals

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Talking about the investments and aligning them with the company's goals, Aaryan Shah, Founder & CEO of Parishi Capital, said, “Parishi Capital saw the spark in Navitas Solar when few others did. Backing visionary founders is what we do, and Navitas’ journey reflects everything we stand for: sustainability, scalability, and sectoral leadership. Our partnership is a testament to what happens when capital meets conviction in the clean tech revolution.”

“Their early investment empowered us to scale rapidly, and their continued support in subsequent rounds reflects the confidence they have in our vision, execution, and long-term growth potential,” said Vineet Mittal, Co-Founder & Director of Navitas Solar.“This collaboration is not just financial—it’s foundational. Their belief helped us fast-track our mission of delivering globally competitive solar solutions rooted in Indian innovation, especially at a time when India is laying the groundwork for a net-zero, sustainable economy.”

Looking ahead, Parishi Capital is actively exploring additional investments in India’s green energy ecosystem. The firm’s focus areas include solar energy, green hydrogen, and technology-led climate solutions aimed at reshaping rural economies and supporting long-term climate resilience.