PE-VC Fund Investments
Biofuel maker from agri-waste Greenjoules raises Rs.62-Cr from Amazon, Singularity
Pune-based Greenjoules has raised INR 62 crore (USD 6.5 million) in an ongoing Series B funding round. The transaction was led by Amazon’s investment arm, Amazon.com NV Investment Holdings, with participation from Singularity AMC’s Singularity Strategic Autonomy Fund.Founded in 2018 by S Viraraghavan, V Radhika, VS Shridhar, and R Sethunath, the company converts farm residues into renewable fuels. These fuels serve as substitutes for crude oil in diesel engines and industrial equipment. The firm is also developing solutions for sustainable aviation fuel, green hydrogen, and biomethane sectors. The firm plans to use the capital to scale operations.Prior to this funding, the company raised USD 4.5 million in a mix of equity and debt from Blue Ashva Capital in 2021. This capital injection was used to establish commercial-scale waste-to-energy plants and to fund new research and development initiatives.
In May 2021, Greenjoules had attracted about $ 5 M from Blue Ashva Capital.
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