Renewable fuels firm Greenjoules raises Rs.150-Cr led by Amazon, Climate Pledge Fund

Pune-based renewable fuels firm Greenjoules has raised INR 150 crore in a Series B funding round co-led by Amazon’s Smbhav Venture Fund and Climate Pledge Fund, with participation from Rainmatter and Singularity’s Strategic Autonomy Fund.Additionally, the company has secured a INR 100 crore loan from the government-backed Technology Development Board (TDB) under the Department of Science and Technology.Founded in 2018 by Viraraghavan Sankaran, Radhika Viraraghavan, Sethunath Ramaswamy, and V. S. Shridhar, Greenjoules specializes in converting agricultural waste into biocrude and renewable diesel.The firm intends to use the total INR 250 crore financing to support the development of a new plant in Khed City, Pune. This facility is designed to produce 200,000 litres of biocrude daily and will be developed in phases beginning in 2027.Beyond its core biocrude production, the company plans to utilize its processing technology to enter new segments, including sustainable aviation fuel and green hydrogen. The firm aims to improve air quality and contribute to domestic fuel production through the utilization of agricultural residue.