Gegadyne Energy Labs Pvt. Ltd. announced that it has entered into a share subscription and shareholders agreement to receive INR 334,000,000 in an equity round of funding on January 15, 2021. The company will issue common stock and convertible preference shares in the transaction. The transaction will include participation from new investor V-Guard Industries Limited (BSE:532953) to hold 18.77% stake in the company. The transaction has been approved by the board of directors of the investor. The transaction is subject to shareholders approval of company along with board approval of investor and company and any other regulatory approval. The transaction is expected to close in February 2021. The company is raising funds as part of its series A round.