Gloworld Energy: India ka progress partner reveals how they are lighting up Indian homes since 2015 with their Made in India clean energy lifestyle solutions

Gloworld Energy, a Social Enterprise that has been lighting up homes since 2015, exists to provide superior clean energy lifestyle products that are high performing, compact, easy to use, and made in India. Gloworld Energy is dedicated to the ideals of client centricity, inquisitive innovation, a sharp entrepreneurial approach, and a clear vision. The company’s attitude is smart, agile and engaging with the goal of successfully and consistently improving the quality of life of our stakeholders.

CXOToday conducted an exclusive interview with Mr. Mukul Kumar, Founder, Gloworld Energy – India ka progress partner, to learn more about this remarkable start-up.

1. Please tell us a little bit about your business, idea behind the venture, and the services it offers.

Gloworld Energy Private Limited was founded in August 2015 in New Delhi by Ritika Sinha and myself with the goal of fixing a basic need of providing a reliable and affordable lighting solution while keeping the looming environmental crisis in mind. Gloworld Energy is bridging the gap in rural India by providing innovative home lighting solutions that are cost-effective, dependable, compact, and easy to use. Thanks to our talented workforce, our long standing MSME partners and a clear strategy, the company is in a strong position to lead the solar light market in India.

Gloworld Energy has expanded its portfolio and has also become an aggregator of essential home appliances, such as cook stoves, fans, kitchen appliances, feature phones etc to fulfil the widening basket of the rural consumers. As the aggregator, we select products on the basis of their positive legacy, value for money proposition and their ability to provide timely aftersales in deep rural India.

Gloworld Energy has created an extensive yet agile logistical capability to deliver our own solar products and other livelihood-generating products straight to the doorsteps of our customers living in rural areas.

2. What sets your business apart from your competitors, your USPs? What kind of clients are you catering to?

The company’s unique selling proposition is its focus on providing high-quality, affordable solar lighting produced with long-lasting components to its target market. The business concept comprises collaborating with microfinance institutions (MFIs), corporate social responsibility (CSR) programs and NGOs to distribute its solar lights. The company also sells its lights through self-help groups (SHGs) for women, reaching a broad customer base across the country. Some of our unique selling points are listed below:

• Highest Luminosity per Rupee Spent: Our lights are the most cost-effective solution in the industry, providing maximum lumen light output per rupee spent by using the best components and proprietary system engineering.
• After Sales Experience: Our clients are the ultimate beneficiaries of the value we create via service and collaboration at every level of the customer journey. We at Gloworld Energy prioritise after-sales service to ensure customer satisfaction.
• Proudly Made in India: Our products carry the label of quality and innovation, proudly designed and manufactured in India. By choosing our lights, you are supporting local excellence and craftsmanship.
• Quick Customization: As an agile organization, having domestic vendors, we are able to provide customized solutions, quick turnaround for our clients. We have our own in-house designing, manufacturing and proprietary technology of solar lights.
• Our Reach: Gloworld has a pan-India presence, including remote rural areas. We directly service 1000+ pin codes in rural India. We constantly innovate our supply chain configurations.
• Quality Assurance: We believe in continuous improvement. We have processes to run quality improvement programs at our vendors and multi-step quality checks at our own factory. This ensures a high performing, long lasting product for our customers.
• Client Base: The company boasts an impressive client base of MFIs, NGOs, PSUs and private organizations. To mention a few, it has tie ups with Asirvad Micro Finance (a subsidiary of Manappuram Finance), SMFG India Credit (Formerly Fullerton India) etc.

3. Elaborate more about the kind of technology being used in implementing to advance India?

Gloworld Energy uses solar panels and related technology to harness solar energy. In-house design, manufacture, and coding can provide various benefits, including quality control, customization, and the flexibility to optimize the product for specific uses. To elaborate:

• Solar Energy Generation: Solar panels convert sunlight into electricity through photovoltaic cells. By harnessing solar energy, you can generate clean and renewable electricity, reducing dependence on fossil fuels and contributing to environmental sustainability.
• In-House Manufacturing and Design: Producing solar lights and related components in-house gives us a greater control over the manufacturing process, ensuring quality control and potentially reducing costs.
• In-House Coding and Software: As we design our own software and hardware of Printed Circuit Board (PCB) and batteries, we can ensure the highest quality.

4. What innovations are you bringing in the solar industry? How is technology helping you?

Gloworld Energy takes pride in its in-house design, production, and coding of solar lights, which uses a variety of component sourcing and long-lasting batteries. This provides the highest level of quality. Gloworld Energy is amongst the very few Indian companies making high quality solar lights in India in a market dominated by American competitors, who primarily sell China made goods.

The company has a competitive pricing strategy. It offers higher specifications at lower prices than competition and provides clients with attractive margins and efficient after-sales service. It should be noted that building and sustaining an in-house solar energy solution necessitates a diverse team with knowledge in a variety of domains, including electrical engineering, software development, materials science, and others. Furthermore, remaining current on advances in solar technology and energy storage technologies will be critical to maintaining a competitive advantage.

5. What are the goals and missions of the business? Briefly describe your experience since the company’s inception.

Gloworld Energy is driven by customer focus, creativity, agility, and sustainability to compete with global competitors and produce superior goods in India that are appealing to the masses without sacrificing performance, durability or pricing.

Our goal is to bridge the gap between the availability of clean energy technology and its affordability, thereby ensuring that people have access to reliable and efficient energy sources. This effort has been ongoing since the turn of this century. When we entered the market in 2015, we capitalized on the technological advances and launched significantly more impactful models. It is an ongoing effort to keep improving the offerings to our customers.

We are on a mission to provide sustainable lifestyle solutions for families and individuals, to assist MFIs in meeting their financial objectives, and to assist corporations in scaling CSR programs. Gloworld Energy lighting products have improved safety, increased livelihoods, and empowered communities over the last eight years. Our new lighting products for homes, shops and gardens are simple to use and are visually appealing.

6. As the part of the solar industry, are there any major issues the segment has currently come across? If yes, share details.

Although the made in India segment of distributed renewable energy (DRE) is growing, the market today continues to be short of solutions that are both innovative and competitive in terms of quality, performance and price. Because of this lack of innovation, the DRE segment continues to lag behind the conventional lighting industry. This gap is particularly visible where there is a demand for solutions that would enhance rural people’s livelihoods and improve energy access. Indian organizations must support made in India DRE products which can compete with global businesses in terms of performance, durability and affordability.

The expansion of the segment is also limited by innovative and easy financing solutions, especially since a lot of products are aimed at the population at the bottom of the pyramid. This slows down the adoption of different energy solutions developed by the DRE segment.

7. Are you seeking any investor interest in the near future?

These technologies are important for the planet, and for large populations such as ours. The gestation period for financial success for businesses like ours is longer than other businesses, hence investor expectation or appetite has to be appropriate to the challenges this segment faces, and its importance in the larger fight for saving the climate. We are open to partners who understand this and want to make a difference. Low cost and long-term financing options for scaling up of such sustainable technology are most welcome.

8. What are your future plans?

Implementing the course suggested by the United Nations’ “Agenda: 2030.” Future expansion plans call for deeper penetration of India’s rural areas and the introduction of additional goods and services. Gloworld Energy currently employs about 30 devoted experts, but it intends to quadruple that number over the next few years. With several renowned foundations and businesses as clients, Gloworld Energy is eager to collaborate with larger businesses on CSR initiatives and with NGOs operating in the same field. Gloworld Energy estimates a 100% increase in revenue in the financial year 2023-2024.