PE-VC Fund Investments
Waste-to-energy co. GPS Renewables raises Rs.45-Cr from PixelSky Capital
Mumbai-based waste-to-energy firm GPS Renewables has raised INR 40-45 crore from PixelSky Capital. The transaction was backed by the boutique investment bank IndigoEdge and Yumlane founder Hitesh Ahuja, both of whom act as sponsors for the fund.Founded in 2012 by IIM-Bangalore alumni Mainak Chakraborty and Sreekrishna Sankar, GPS Renewables builds compressed biogas plants that convert agricultural waste into gas for industrial pipeline networks. Neev Fund holds an over 40% stake in the company, while the founders own 27%.GPS Renewables closed FY26 with over INR 1,000 crore in revenue and currently has an order book of more than INR 4,000 crore. The firm is in talks to raise another larger round of funding over the next few quarters.
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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