Solar energy startup Cygni eyeing Myanmar, Bangladesh export markets

In 2018, the IIT Madras incubatee had raised $6.4 million

Solar energy startup Cygni, an Indian Institute of Technology, Madras incubatee company, is looking to break into the lucrative export markets in Myanmar and Bangladesh.

The company, which manufactures solar power backup and DC (direct current) micro-grid solutions, apart from battery for electric vehicles at its Hyderabad plant, is planning to explore the offshore markets from the next 2020-21 financial year, Cygni Energy CEO Venkat Rajaraman told Business Standard here on Wednesday.

“While we are targetting to double our revenues from nearly Rs 100 crore in 2018-19 to more than Rs 200 crore this fiscal year, we are targetting to export our