VC Fund Investments
Energy solutions provider Smart Joules attracts $8-M from Denmark’s IFU
New Delhi-headquartered Smart Joules , an energy efficiency company, has attracted USD 8 million from the Investment Fund for Developing Countries (Investeringsfonden for Udviklingslande or IFU), a Development Financial Institution (DFI) owned by the Government of Denmark.The funds will be used to execute the organisation’s Cooling-as-a-Service (CaaS) partnerships with healthcare and hospitality chains, aimed at reducing energy consumption and carbon emissions.Additionally, the investment will enable Smart Joules to foray into cooling-intensive sectors like data centres, pharmaceutical manufacturing facilities, and commercial offices. Smart Joules aims to reduce 29 million tonnes of carbon emissions by 2030.
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