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Climate tech co. Carbon Masters raises funding led by SEEAA, Sangam Ventures, IAN Group

Indian Startup News   Carbon Masters  

Bengaluru-based Carbon Masters has raised equity funding led by Schneider Electric Energy Access Asia (SEEAA), Sangam Ventures, and IAN Group, with participation from Sriram Sankaran (Synchron Group) and Muthu Murugappan (Murugappa Group). As part of this transaction, Vikram Raman from SEEAA and Sriram Sankaran have joined Carbon Masters Board of Directors.Founded in 2009, by Som Narayan and Kevin Houston, Carbon Masters aims to reduce carbon emissions by replacing fossil fuel consumption with low carbon solutions & products. The company currently has 2 flagship brands - Carbonlite Bio-CNG & Bio-Enriched Organic Manure which convert food and agricultural waste into two climate-positive products.The fresh funding will be used to expand the production capacity of Carbonlites Biomethane (CBG), scale its carbonlites bio-enriched organic fertiliser portfolio, enhance efficiency across existing operations and focus on building the team across sales, marketing, and R&D.

Between May-17 and Sep-22, Carbon Masters had attracted about USD 1.38 M from Sangam Ventures, Others.For FY24, Carbon Masters had reported about INR 8.89 Cr in Operating Income and about INR 2.33Cr in Net Loss.