Bangalore-based Solaron Sustainability Services Pvt Ltd is close to raising an undisclosed amount in funding from Indian Angel Network (IAN),according to the report at Techcircle.in. The company is a Big Data and cloud-based rating agency which offers ESG (environmental, social and corporate governance) services to international institutional investors. According to the report, Solaron will use the capital to scale up the team and open an office in the UK.
Sonali and Vipul Arora started Solaron Sustainability Services in September 2007. Solaron began with 15 team members in Bangalore, passionate about sustainability and eager to contribute to the space, and has now grown to a team of more than 65 like minded professionals across 15 emerging markets. Earlier in Nov 2013, the startup has announced the launch of its Global ESG Tracker™ platform – to cater to the diverse needs of investors seeking to incorporate actual, up to date ESG performance of holdings into investment strategies.
Solaron currently offers products such as emData™, emScreen™ and emRatings™. Their products help Investors further understand the ESG factors in emerging markets across the globe. Traditional ESG Research misses significant risks due to its focus on publicly available information only, and Solaris identifies hidden risks from three levels of information sources – publicly available information,local language media outlets and stake holder sourced information. They have done global coverage of 6000+ companies so far.