PE-VC Fund Investments
BiofuelCircle to raise Rs.70-Cr from Spectrum Impact, others
Pune-based biomass and biofuel marketplace BiofuelCircle is to raise INR 70 crore (USD 8.2 million) in a funding round from existing investor Spectrum Impact, with participation from a group of angel investors as well as the firm’s promoters.The company has already received INR 7.25 crore, and the remaining sum will be infused shortly.Founded in 2020, BiofuelCircle is a digital marketplace for biomass and biofuels that connects farmers, suppliers, and industries using a subscription and transaction model, enabling price discovery, logistics, and trade finance, helping farmers monetise agri-residue.
Between May 2022 and Jul 2024, BiofuelCircle had attracted about USD 6 M from Better Capital, Spectrum Impact and others.For FY24, BiofuelCircle had reported about INR 29 Cr in Operating Income and about INR 5 Cr in Net Loss.
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