Intellecap Impact Investment Network (I3N) and Infuse Ventures have invested $500,000, or Rs 3 crore, in Coimbatore-based solar agriculture startup Surya Power Magic. I3N, which is an angel network investing in social enterprises, saw members including solar panel manufacturer Waaree Group and family office Kshatriya Ventures participate in the deal. Infuse Ventures is a Rs 110 crore fund promoted by IIM Ahmedabad's Centre for Innovation Incubation and Entrepreneurship (CIIE) and focusing on the clean tech sector. "Angel investors have typically found clean energy as a difficult sector for investment because of the perception of high initial costs, complicated technology, or regulatory issues," said I3N Head Aditi Shrivastava.
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