PE-VC Fund Investments
Renewable oil & gas player GPS raises Rs.635-Cr led by PixelSky Capital
GPS Renewables (GPSR), a Bengaluru-based renewable oil and gas company, has raised INR 635 crore in a Series C funding round to accelerate the development of compressed biogas (CBG) infrastructure. The funding includes INR 125 crore in equity led by PixelSky Capital, with participation from the family office of Aarti Industries and other investors.The round also includes an INR 200 crore equity commitment for GPSR’s asset platform, Arya, from a Korean conglomerate. This follows an earlier INR 310 crore investment in the company’s asset platform from Sojitz and Indian Oil (IOC).Founded over a decade ago, GPS Renewables has developed capabilities across technology, engineering, EPC services, operations and maintenance, and project development. The company employs more than 800 people and reports annual revenue of approximately INR 1,000 crore.The fresh capital will be used to support the next phase of growth, enhance financial strength, and accelerate the execution of a growing pipeline of large-scale CBG projects across India. A portion of the proceeds will also be invested in GPSR Arya, the company’s project development platform.
Between Sep 2020 and Apr 2024, GPS Renewables had attracted about $ 70 M from Caspian Advisors, Triodos, SBI Ventures, HDFC Bank, Northern Arc Capital, SIDBI VC, Spark Capital, Tata Capital and others.For FY25, GPS Renewables had reported about INR 995 Cr in Operating Income and about INR 22 Cr in PAT.
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