Start-Up Light

How Shell E4 is Shaping India’s Energy Startup Ecosystem with Innovation

By Techiexpert, 06 July, 2024
An important feature to take a note is the diverse approach of Shell E4 in offering four distinct tracks catering to specific needs of startups and these are e-mobility, digital innovation, renewable energy and waste management. The move is set to drive innovation and also aligns with India’s ambitious goals for sustainable energy solutions.

Indian Electric Two-Wheelers Better than Global Counterparts, Says Ather Cofounder

By Economic Times, 22 June, 2024
Indian electric two-wheelers are better than any electric two-wheeler in the world and the country can outpace their global counterparts in terms of design and technology, said Ather Energy cofounder Swapnil Jain. He added that the electric two-wheeler industry can become an anchor to pull all new technologies in the country.

Indian Venture Capitalists Need to Pivot to a New Model of Investing

By Economic Times, 14 June, 2024
A big trend in venture investing is emerging, something that’s been simmering for a few years now in the post-Covid era. This trend surfaces each time a downturn hits this buzzy asset class, which is far more in the news than its PE peers. Indian venture investors, focused on spotting the hot fledgling tech startup that will yield the next significant outsized return, are turning to safe havens.

Cepsa Launches its New Startup ‘Cepsa Light Up’ to Drive Energy Transition

By Indian Chemical News, 07 June, 2024
Cepsa has launched its startup accelerator, Cepsa Light Up, an initiative aimed at fostering the development of emerging technologies geared towards facilitating the energy transition. Cepsa will work to ensure that entrepreneurs receive the support needed to transform their innovative ideas into viable commercial solutions.

Startups in India Outline their Expectations from the New Government

By Business Today, 04 June, 2024
Startups in India are eagerly awaiting the new government's policies to address their specific needs, ranging from bolstering the EV industry to supporting small-town entrepreneurs and ensuring financial market stability. By implementing targeted policies and providing necessary resources, the government can create a conducive environment for the growth and success of startups across the nation.

Alstom, NSRCEL Launches Second Edition of Sustainability Incubation Programme

By Business Today, 01 June, 2024
The programme is designed to assist early-stage sustainable startups in their revenue stages and focuses on innovations in areas such as green manufacturing, mobility infrastructure, energy and renewable energy, climate technology, alternative fuels, and vehicle technology. Under the second edition, Alstom is looking to incubate 22 startups, while 20 startups were supported under the first cohort.

India’s Solar Energy Sector and Its Opportunities for Startups and Entrepreneurs

By Manufacturing Today, 01 June, 2024
The push for self-reliance through the “Make in India” initiative is driving the demand for locally manufactured solar panels. Startups can tap into this market by setting up manufacturing units for solar cells and modules. The government offers incentives, such as subsidies and tax benefits, to encourage domestic production, making it an attractive venture for entrepreneurs.

Manufacturing, EV Sectors Propel Indian PE-VC Investments to $39 Billion in 2023

By Energy World, 28 May, 2024
The EV market is expected to experience robust deal activity, particularly among original equipment manufacturers that are planning capacity expansions or new product introductions, and in the charging infrastructure, including battery-swapping players looking to expand their geographic footprints or venture into new EV segments.

Empowering India’s Net-Zero Goals: The Rise of Climate Tech Startups

By India Briefing, 24 May, 2024
Indian climate tech startups are leveraging advanced technologies to combat climate change, supporting the country’s net-zero goals, and providing industries with the tools to achieve sustainability across their operations. Despite challenges like funding declines and economic pressures, these innovative businesses are making significant strides across diverse sectors.

These Indian Energy Innovators Shine in Forbes 30 Under 30 Asia List

By CNBC, 16 May, 2024
Indian entrepreneurs are leaving their mark in the energy sector, with several featured on the Forbes 30 Under 30 Asia list. These innovators are not only contributing to the growing ecosystem of EVs but also facilitating the adoption of eco-friendly transport in the region. Gurgaon-based Sharify Services, operating under the brand Statiq, provides a nationwide network of charging stations for EVs.

62 EV Startups That Are Helping Keep the Earth Healthy and Clean

By inc42, 16 May, 2024
The Indian EV market, estimated to reach to $110.74 Bn by 2029, houses various small as well as large EV startups. EV startups offer services such as sustainable mobility, energy infrastructure, commercial mobility and battery management system, among others, to general masses and enterprises. EV startups also work as a growth catalyst to sectors such as FMCG and logistics, among others.

India’s Compressed Biogas Sector Present Opportunities for Startup Entrepreneurs

By DowntoEarth, 13 May, 2024
Compressed biogas (CBG) project installation in India offers various advantages, such as enhancing waste management, promoting local clean energy production and reducing reliance on imported compressed natural gas (CNG), which currently meets 47% of India’s gas needs. CBG seamlessly integrates into existing natural gas infrastructure, obviating the necessity for new setups.

Indian Startups Harness Biodegradable Waste to Power-Up EV Batteries

By ET Auto, 10 May, 2024
Rising adoption of EVs brings more advancements thus bringing a room for Indian startups to step in the market with their unique sustainable ideas. Start-up named Cancrie is using coconut shell powder to increase the efficiency of e-batteries. Meanwhile, start-up Hop Charge, aims to provide door-to-door charging services for EV owners, thus saving time.

VC Investments in April Declines by 12.6% Due to Lack of Large Deals

By Yourstory, 01 May, 2024
The month of April turned out to be a disappointing period for the Indian startup ecosystem as VC funding declined by 12.6% on a year-on-year basis, and dipped 8% on a month-on-month basis mainly due to the absence of large deals. In terms of the segments, fintech received the highest amount at $222 million followed by manufacturing ($96 million), SaaS ($71 million), and cleantech ($71 million).

Li-ion Battery Startup PointO Raises INR6.2 crore in Seed Round

By The Hindu, 30 April, 2024
Lithium battery startup PointO has raised INR6.2 crore in a seed funding round led by Equirus InnovateX Fund (EIF), which invested INR5 crore. PointO aims to build a full-stack lithium battery ecosystem, encompassing manufacturing, financing, and servicing of lithium batteries. The startup has grown about seven times in the last 12 months.

Baud Resources Develops Sand-Based Gravity Energy Storage System

By PV Magazine, 25 April, 2024
Baud Resources, a cleantech start-up, has developed a gravity energy storage mechanism that uses locally available materials like sand and industrial waste as its payload. The company is expected to announce its inaugural commercial plant by the end of this year, with completion expected in 2025. The plant will have a 100 MWh capacity and offer a levelized cost of storage of around INR 2.5/kWh.

Apple Forms JV With CleanMax To Fuel India’s Renewable Energy Adoption

By Startup News, 18 April, 2024
Apple has entered into a joint venture with Mumbai-based renewable energy firm CleanMax to invest in six rooftop solar projects, with a total capacity of 14.4 MW. The solar projects will not only power Apple’s corporate offices and two retail stores in India but also help the smartphone major reduce the carbon footprint associated with its India operations.

Biofuel Company GPS Renewables Raises USD50 Mn Debt

By Financial Express, 16 April, 2024
Biofuel company GPS Renewables has announced USD50 Mn funding in debt from a clutch of private and public lenders along with NBFCs including Punjab National Bank, HDFC, and Yes Bank. The company offers end-to-end solutions for the development, production and distribution of biofuels spanning compressed biogas/renewable natural gas, 2G ethanol and green hydrogen.

EV Industry Needs to Learn to Live Without FAME Subsidies: Exponent Energy CEO

By Economic Times, 13 April, 2024
The electric mobility ecosystem must learn to survive without easy government subsidies, said Arun Vinayak, cofounder and CEO of Exponent Energy. The government has withdrawn subsidies under the FAME-II scheme from the end of March, while moving onto the INR 500 crore Electric Mobility Promotion Scheme, 2024.

Venture Capital Funding Sees Revival in Indian Startup Ecosystem

By KNN, 12 April, 2024
Last month, reports emerged that e-commerce unicorn Meesho is in talks to raise around USD300 Mn from investors like SoftBank, Tiger Global and others. This development sent ripples across the startup space, as it would mark SoftBank's potential re-entry after an 18-month hiatus, viewed as a significant positive signal.

VCs Shift Focus on ESG Norms, Not Just ‘Financial Parameters’ For Startup Funding

By Mint, 04 April, 2024
Indian startups witnessed a decline in venture capital funding in the first quarter of 2024, especially in the tech sector. The funding-starved startup landscape in the country still stands at the third spot despite being grappled by ‘funding winter’. According to a Tracxn, only USD1.6 Bn has been injected into Indian startups between January to March this year, registering a decline of 51%.

Driving Innovation: The Rise Of New-Age Changemakers In India’s Auto Industry

By Entrepreneur India, 04 April, 2024
The emergence of new-age companies within the auto industry, particularly in the domain of sustainable transportation and electric vehicles (EVs), underscores a pivotal shift towards innovation and adaptability. These start-ups, driven by a combination of technological prowess, agility, and a fresh perspective, are not only challenging established players but also reshaping the industry landscape.

AMO Mobility Launches High-Speed Smart Electric Scooter Jaunty i Pro at INR 1.15 lakh

By Economic Times, 03 April, 2024
Available in white, blue, and grey, the Jaunty i Pro can be accessed through over 200 dealerships. AMO Mobility anticipates that this indigenous model will contribute significantly to its revenue, aiming for a 50% share in the rapidly expanding Indian EV market. The company plans to produce 30,000 units of the Jaunty i Pro in the fiscal year 2025.

Ola Electric Raises USD50 Mn in Debt Financing from EvolutionX Cap

By Economictimes, 01 April, 2024
Ola Electric Mobility Ltd has raised INR410 crore (USD50 million) through non-convertible debentures from EvolutionX Debt Capital, showed regulatory filings made with the Registrar of Companies. EvolutionX Debt Capital, a debt financing platform established by DBS and Temasek, has earlier backed Indian internet firms such as Udaan, Mensa Brands, PharmEasy and LendingKart.

Yulu Launches Franchise Partner-Led Model for Shared Mobility in Indore

By Economictimes, 01 April, 2024
Yulu has launched its services in Indore in partnership with a city-based firm, Yuva Mobility. The launch will see Yuva independently operating Yulu’s popular EV across Indore, with infrastructural and technological support from Yulu. The company is actively working with entrepreneurs and businesses under its Yulu Business Partner (YBP) initiative to launch partner-led services across the country.

EV Sales to Break Monthly Record of 1.5 Lakh Units Ahead of Fame II Expiry

By Autocar Professional, 30 March, 2024
According to various dealer and original equipment manufacturer (OEM) estimates, consumers are making a beeline for dealerships. The impending cut in subsidies from Rs 10,000 per kWh to Rs 5,000 per kWh is leading to brisk sales at dealerships, as the prices of electric two-wheelers are set to rise by Rs 5,000 to 10,000 and that of three-wheelers by Rs 25,000 to 30,000.

Statiq, GLIDA Announce Partnership to Expand EV Charging Network in India

By Energyworld, 21 March, 2024
According to the agreement, the entire GLIDA charging network will now be accessible through the Statiq App, enabling users to locate and use any public charger within the GLIDA network. This initiative is designed to promote interoperability between Statiq and GLIDA charging stations, reducing the need for EV users to rely on multiple applications for their charging needs.

India's Electric Two-Wheeler Startups Surge to Over 150 With Government EV Push

By Yahoo News, 20 March, 2024
Many Indian EV startups such as Ather Energy, BluSmart, and Exponent Energy have now come up with sustainable solutions for mobility. The Indian EV market houses various small as well as large EV startups and is estimated to reach USD15.3 Bn by 2027. EV startups are offering services such as sustainable mobility, energy infrastructure, battery management system, etc. to the masses.

60 EV Startups that are Helping Keep the Earth Healthy and Clean

By Inc42, 20 March, 2024
Many Indian EV startups such as Ather Energy, BluSmart, and Exponent Energy have now come up with sustainable solutions for mobility. The Indian EV market houses various small as well as large EV startups and is estimated to reach USD15.3 Bn by 2027. EV startups are offering services such as sustainable mobility, energy infrastructure, battery management system, etc. to the masses.

Kerala-based energy tech startup, chargeMEOD, to deploy 1,200 EV chargers across India

By The Economic Times, 17 March, 2024
The company is planning to set up an additional 1,000 slow chargers and 200 fast chargers across various states in India and to establish an additional 500 slow chargers and 100 fast chargers in Kerala. The company claimed that with over 120 new subscribers joining their network daily, chargeMOD has prevented over 995 metric tons of greenhouse gas emissions.

Urja Sathi gets seed funding boost to revolutionize the clean energy sector

By Krishakjagat, 05 March, 2024
Urja Sathi, a pioneering, one-stop sustainable energy-tech platform for buying and selling renewable energy solutions in India, has raised seed funding of INR 3.5 Million from entrepreneurs-cum-investors Ankitt Jain and Sharlee Jain. This marks Urja Sathi’s maiden fundraising round; prior to this, the startup had remained bootstrapped since its inception in 2023.

BluSmart signs deal with Tata Power, shift to solar power for all EV charging needs

By The Economic Times, 21 February, 2024
BluSmart has signed a multi-year agreement (20 years) with Tata Power aiming to source green power, utilized in BluSmart’s operations to decarbonize mobility. BluSmart will get 30 MW of electricity this year from Tata Power, which will be utilised to power the company's entire fleet of 6,000 cabs in Delhi, NCR and Bengaluru.

Ather Energy’s stagnation: What stalled India’s OG EV startup?

By Inc42, 12 February, 2024
Despite Ather Energy's early entry and technological prowess, its market share has not improved for the past five years, raising questions about its strategic choices and ability to compete with industry leaders. The company remains undervalued when compared to the peers, believes many including Ather cofounder Tarun Mehta.

India Energy Week to focus on pivotal role of energy startups, says energy minister

By Millennium Post, 25 January 2024
The India Energy Week this year to focus firmly on the pivotal role of energy startups in shaping the future of India’s energy landscape, as per Union Minister of Petroleum and Natural Gas Mr. Hardeep Singh Puri. The curtain raiser event brought together luminaries from various sectors, including policymakers, investors, incubators, and industry leaders.

NRL iDEATION Clean Energy Hackathon witness over 180 innovators

By PSUWATCH, 25 January 2024
The event showcased an array of innovative ideas ranging from Green Hydrogen generation and biofuels to energy efficiency. The highlight of the event was the announcement of 'Velicicore,' a Chennai-based startup, as the winner. Velicicore's groundbreaking work in Green Hydrogen generation earned them the first prize of INR 5 Lakhs.

Legacy companies in mobility space tying up and acquiring young startups

By ET Auto, 21 January 2024
Legacy companies like Mahindra and Mahindra, Hero MotoCorp, and Gulf Oil are collaborating with startups to explore opportunities in the mobility space. Mahindra has partnered with Charge+Zone and Statiq to develop an extensive network of EV charging stations. Hero MotoCorp has joined forces with Ather Energy to create an interoperable fast-charging network.

Raptee unveils high-voltage e-motorcycle at 'Tamil Nadu Global Investor's Meet'

By Zee Business, 12 January 2024
Raptee's electric motorcycle offers a powerful drivetrain, reaching a top speed of 135 KM per hour and a range of 150 KM on a single charge. The vehicle supports hassle-free recharge at any CCS2 charging station, achieving 80% capacity in 45 minutes or covering 40 KM in 15 minutes of charging.

EVIFY raises $1.3 million in pre-Series A round

By ENTRACKR, 10 January 2024
EVIFY has secured $1.3 million in pre-Series A round co-led by GVFL and Piper Serica Angel Fund along with participation from existing investors We Founder Circle, IVY Growth and other angel investors. The company had previously raised $100K in August last year. The fresh proceeds will be allocated towards expanding its operations across Gujrat and product innovation.ENTRA

Ola Electric’s billion-dollar EV ride: Is sales boom enough to ease IPO pricing?

By StartupNews, 10 January 2024
Having sold over 3.5 Lakh electric two-wheelers and boasting an omnichannel network, Ola Electric also faces many questions about its overdependence on government subsidies, rich valuation, and uncertainty around future product launches, including its ambitious foray into car manufacturing.

Serentica Renewables Targets 4 GW With INR25,000 Crore Investment by 2025

By Energyworld, 09 January 2024
Serentica Renewables is set to expand its project portfolio with a INR25,000 crore investment aimed at achieving a 4 GW capacity by June 2025. The company announced its plans to commission 600 MW of renewable energy projects within the next six weeks, with a subsequent addition of 500 MW every quarter.

Serentica Renewables bags $425 million foreign currency loan

By Dealstreet Asia, 08 January 2024
Serentica Renewables, a decarbonization platform, has raised $425 million foreign currency loan from a consortium of international and domestic banks. The funding will help in the development of its 530 MW hydrid (wind and solar) renewable energy project coming up in Rajasthan and Maharashtra.

Erisha E Mobility plans $830 million green H2 and EV project in Gujarat

By RenewablesNow, 05 January 2024
The company has entered into a memorandum of understanding with the state government in relation to a proposal to explore, develop and implement innovative solutions in renewables-powered hydrogen production, establish a 320-acre EV park and deploy 100 EV charging hubs across Gujarat.

GAIL invests in fuel aggregator Nawgati under PANKH initiative

By Economic Times, 04 January 2024
GAIL (India) has invested INR 1 crore under its PANKH initiative in Nawgati, a fuel aggregator startup. The primary focus of Nawgati will be onboarding over 2,000 fuel stations onto their retail operations platform, Aaveg. It is a vertical SaaS offering that provides oversight of each fuel station on a dashboard, with real-time movement, and under or over-utilisation of resources.

Ather Energy offers OTA update for 450X scooters

By ET Auto, 02 January 2024
Ather Energy, a leading electric scooter manufacturer, has released a host of new features on its on-board navigation system through an Over-The-Air (OTA) update. The latest software release brings significant new advancements to improve the navigation experience for Ather scooter owners.

Electric vehicles witness record registrations in 2023

By Deccan Herald, 02 January 2024
The past year saw bumper sales of electric vehicles in India as their registrations amounted to 15,29,614 units, up 49% from 10,25,123 EVs registered in the previous year. The expansion of India’s charging infrastructure, improving battery technology, along with continued government incentives, are expected to continue this accelerated growth in the next year.

How India will navigate EVs in 2024

By Techcrunch, 30 December 2023
In 2023, India sold almost 24 million vehicles, including commercial and personal four, three and two wheelers, according to the latest data on the government’s Vahan portal. Of the total number of vehicles registered, more than 1.5 million were EVs, capturing 6.35% of the total base, including 813,000 electric two-wheelers.

Tripura University’s startup to market water purification technology

By The Sentinel, 30 December 2023
Tripura University has established NH Technovisions, its inaugural on-campus startup. The company has launched a portable water purifier ideal for use during emergency crises which ensures elimination of dependency on packaged bottled drinking water while being reliable at the same time.

India’s top five solar energy funding deals in 2023

By MERCOM, 28 December 2023
Adani New Industries has secured a trade finance facility amounting to USD394 million from Barclays and Deutsche Bank. CleanMax has concluded an equity fund raise of approximately USD360 million from Brookfield Renewable. Amp Energy India has secured upto USD250 million in funding from multiple financial institutions.

Apraava Energy secures 300 MW wind energy project in Karnataka

By Startup Story, 28 December 2023
Apraava Energy has revealed its successful acquisition of a substantial 300 MW wind energy project situated in Aski, Karnataka. This accomplishment is part of the 1,200 MW auction capacity for Inter-State Transmission System (ISTS)-connected wind power projects, specifically Tranche-XIV, managed by the Solar Energy Corporation of India.

GPS Renewables secures orders worth INR 2,000 crore for CBG plants

By Businessline, 26 December 2023
GPS Renewables has secured orders worth INR 2,000 crore to undertake multiple Compressed Biogas projects, also called Renewable Natural Gas across the country. The strategically-positioned CBG plants will process 4,000 tonnes per day (TPD) of agri-residue and energy crop, with an additional 300 TPD of municipal solid waste processed for biogas, preventing landfill accumulation.

Ola Electric files DRHP with Sebi; first ever by an Indian EV firm

By Moneycontrol, 22 December 2023
The IPO would set a precedent as this is the first attempt at a public listing by an Indian electric vehicle (EV) firm. The fresh issue component will consist of INR 5,500 crores and the balance would be the OFS (offer for sale) category, around INR 1,750 cr. Ola Electric CEO Bhavish Agarrwal, Softbank, Temasek, etc. would be the selling shareholders.

Renew exploring overseas locations for setting up green hydrogen production

By Financialexpress, 19 December 2023
As per Sumit Sinha, “green hydrogen (GH) will be expensive compared to grey alternatives in the short to medium term. This is true regardless of whichever part of the world it is produced in. Hence, its demand creation and economic viability in the short term are dependent on government policies. We believe India is on the path to becoming a GH export hub”.

GoMechanic partners with MoEVing for EV services for fleet aggregators

By Mobility Outlook, 18 December 2023
GoMechanic's expansion strategy involves broadening its service portfolio from Internal Combustion Engine vehicles to Electric Vehicles, targeting over 10,000 smart vehicles across multiple cities in India for the year 2024-25. The company's comprehensive EV fleet services will cover periodic vehicle maintenance to major repairs, including paintwork, tire servicing, etc.

Revamp Moto joins with Bolt.Earth for EV efficiency enhancement

By ET Auto, 15 December 2023
Revamp Moto has announced its partnership with Bolt.Earth to integrate an operating stack into their existing vehicles. This integration will allow Revamp Moto to introduce and offer a suite of new offerings including enhanced vehicle and fleet management systems, smart instrument clusters, and an advanced companion application.

Revamp Moto and ReadyAssist partners for electric two-wheeler roadside assistance

By Mediabrief, 15 December 2023
Revamp Moto has announced its partnership with ReadyAssist, a provider of automotive assistance services. The partnership will integrate ReadyAssist’s RSA into the Revamp Moto ownership experience, providing a coverage network for the event of breakdowns and other emergencies round the clock.

Magenta Mobility appoints Aravind Kumar S R as Chief Financial Officer

By ET, 06 December 2023
With impressive years of dedicated service to the corporate world, across manufacturing, consulting and IT & ITES sectors, Aravind has held impactful roles at renowned companies such as Satyam Computers, Renault Nissan Technology, and Grant Thornton.

Orxa Energies and Nunam Tech join for sustainable battery lifecycle management

By Energyworld, 16 November 2023
Orxa Energies has partnered with Nunam Technologies, a startup specializing in the reuse of EV batteries in Bengaluru, to establish a closed-loop circular ecosystem for batteries to minimize waste and maximize environmental benefits. Both companies are actively developing a battery buyback mechanism for Orxa’s B2B customers as well as Mantis riders.

AVAADA inks pact with REC for energy transition projects in Odisha

By Energyworld, 15 October 2023
AVAADA Group has inked an initial pact with state-owned REC for the financing of energy transition projects in Odisha. The partnership is focused on accelerating the transition to green energy and supporting India's aspirations to establish itself as a prominent global hub for manufacturing Green Hydrogen and its derivatives.

Nawgati secures seed funding led by All in Capital to revolutionize fuel industry

By Startup Story, 11 October 2023
Nawgati, home-grown fuel aggregator, has successfully raised an undisclosed amount in seed funding, with All in Capital, a pre-seed venture capital fund, taking the lead. The company plans to utilize the raised capital to accelerate its expansion efforts. Nawgati’s primary focus is onboarding over 2,000 fuel stations onto their retail ops platform.

Decoding Ola Electric $300 million series E financing round

By ENTRACKR, 07 October 2023
Ola Electric is currently in the process of raising fresh funds as part of its series E Round and reportedly has secured an initial tranche of $140 million. Ola Electric is the only unicorn in the EV space. Its close competitor Ather Energy recently scooped up $108 million from its existing backers GIC and Hero MotoCorp.

Former Cars24 India CEO launches Electrifi Mobility

By Autocar Professional, 21 September 2023
Electrifi Mobility is dedicated to delivering an end-to-end asset management solution encompassing asset selection, leasing, maintenance, post-sales support, refurbishment, and redeployment of electric vehicle (EV) assets. The company reports that it has already deployed assets valued at Rs 10 crore in the past two months, with deals worth Rs 30 crore in the pipeline.

Ola and Ola Electric set to go public in 2024, says Bhavish Aggarwal

By StartupStory, 21 September 2023
During the 14th edition of TechSparks Bengaluru, Ola’s Founder and CEO, Bhavish Aggarwal, announced that both Ola and Ola Electric are considering initial public offerings (IPOs) by the next year. Ola Electric aims to raise approximately $700 million (approximately Rs 5,815 crore) through the public listing.

Ather Energy set to begin e-scooter exports to neighbouring countries

By Autocar Professional, 19 September 2023
After significant delays in its global expansion plans, which have been in the making since the past three years, Ather Energy is finally looking to begin exporting its e-scooters from India. Equipped with ample capacity and a well-scaled, synchronised domestic operation, the company now has the bandwidth to cater to demand from overseas markets such as Latin America, South East Asia and Europe.

Avaada Energy sign MoU with Al Jomaih Energy and Water Embark for RE advancement

By Energyworld, 11 September 2023
The collaboration extends to engineering, procurement, and construction and operations and maintenance services. The release added that under the MoU a dedicated committee from both AEW and Avaada will be overseeing potential projects. AEW will interface with stakeholders and provide resources while Avaada will bring in its development experience and technical knowledge.

Temasek leads $140 million Ola electric funding at $5.4 billion valuation

By Reuters, 07 September 2023
The investment round has been closed and Ola will be receiving the funds within a week's time, though there will be another round of fund raising before it files papers for an up to $1 billion IPO planned for late 2023. Ola Electric has become India's e-scooter market leader with a 32% share.

ReNew appoints Kailash Vaswani as Chief Financial Officer

By ReNew, 07 September 2023
The Board of Directors of ReNew Energy Global (ReNew) accepted the resignation of Mr. Kedar Upadhye as the Chief Financial Officer on September 6, 2023. Mr. Upadhye’s resignation will be effective on October 30, 2023. Mr. Upadhye is resigning to pursue an opportunity outside ReNew in a products-driven sector.

Avaada to set up green hydrogen plant at Tata’s Gopalpur Industrial Park

By Mint, 07 September 2023
Renewable energy company Avaada Group will set-up a green hydrogen and ammonia manufacturing unit at Gopalpur Industrial Park of Tata Steel SEZ Ltd in Odisha. The announcement follows Avaada's signing of an MoU with Tata Steel Special Economic Zone Ltd (TSSEZL). The company has set ambitious targets to achieve 11GW of operational projects by 2026 and 30GW by 2030.

Ather Energy raises INR 900 Cr from Hero MotoCorp, GIC

By Inc42, 06 September 2023
Founded in 2013 by Tarun Mehta and Swapnil Jain, Ather is a major player in the Indian two-wheeler EV market. It currently offers two escooters – Ather 450X and Ather 450S. Besides Ola Electric, Ather competes with Ampere, Okinawa, Revolt, TVS, among others. Ather’s revenue stood at INR 1,806 Cr in FY23, a massive jump from INR 408.5 Cr in FY22.

ELLIPSOL raises 2.5 crore in seed funding led by Capital A

By Outlook Start-Up, 05 September 2023
The technology developed by Ellipsol enables users to get maximum energy from the installed solar panels by ensuring precise control over the amount of solar radiation falling on them. The investment raised would be utilised to take the prototype developed by the company to the production level. It would also be used for some of the pilot projects in the initial stages.

Aiming Rs 750-850 crore loan book by FY24-end: Mufin Green Finance MD

By Financial Express, 02 September 2023
Pure-play electric vehicle financing non-bank lender Mufin Green Finance is aiming to grow its loan book to Rs 750-850 crore by the end of current fiscal, from Rs 350 crore as of July-end. The largest portion of the non-bank lender’s overall advances are extended towards financing e-autos, followed by electric 2-wheelers and 4-wheelers, among others.

ADB, Fourth Partner Energy to build solar power unit in Tamil Nadu

By Energyworld, 29 August 2023
The power plant, located in Tirunelveli district in Nadu, is expected to generate about 50.7 gigawatt-hours of electricity annually and will directly sell power to commercial and industrial users. India's open-access renewable energy policy allows a group of consumers to purchase electricity directly from an independent power producer (IPP).

Why the biogas sector presents a compelling case for growth of clean energy and startups

By Energyworld, 25 August 2023
Biogas projects also qualify for carbon credits under international mechanisms, providing additional revenue streams and financial incentives for project developers. India has played a significant role in the global carbon credit market, exporting 278 million credits in the voluntary carbon markets from 2010 to 2022, which accounts for 17% of the global supply.

OSM partners Punjab National Bank for vehicle financing

By Financial Express, 24 August 2023
Omega Seiki Mobility (OSM) has announced the signing of a MoU with Punjab National Bank (PNB). With this tie-up, Omega Seiki Mobility aims to help dealer partners streamline vehicle inventory funding and offer comprehensive retail financing solutions to their customers.

SMEV appoints Yulu Bikes co-founder R K Misra as new President for 2023-24

By Business Standard, 24 August 2023
Society of Manufacturers of Electric Vehicles (SMEV) has appointed R K Misra, Co-Founder of Yulu Bikes and Director at Magna Yuma, as its new President for 2023-24. Last month, SMEV had temporarily suspended its present constitution while appointing former BJP spokesperson Sanjay Kaul as its Chief Evangelist to help revise the agenda of the association.

Greaves Retail partners Usha Financial Services for electric three-wheeler loans

By Financial Express, 22 August 2023
By working together, Greaves Retail aims to extend its reach and make end-customer financing more accessible and seamless across the nation. Usha Financial will provide its distinctive dealer delivery model to provide convenient and localised financing solutions to customers across the country.

ReNew posts net profits of US$36 million in the three months to June 2023

By PVTECH, 22 August 2023
Renew’s largely stable results stem from the fact that it is expanding its operations at a time when the Indian solar sector more broadly is growing. According to the country’s Central Electricity Authority, India added 13.9GW of new solar capacity in the 2022 financial year, up from 5.5GW the previous year.

Zomato, Battery Smart join hands to provide battery swapping access to delivery partners

By Money Control, 21 August 2023
Zomato has committed to 100% EV adoption by 2030 and joined Climate Group's EV100 campaign. Battery Smart co-founder Pulkit Khurana said the association with Zomato empowers new and existing delivery partners to join the EV revolution.

Dharmistha Chaudhary joins Magenta Mobility as CHRO

By People Matters, 21 August 2023
Magenta Mobility, has announced the appointment of Dharmistha Chaudhary as its Chief Human Resources Officer. Before joining Magenta Mobility, she worked with organisations like Sandvik Asia Limited, Reliance Group, Chalhoub Group, and CMA CGM Group.

Sea6 Energy is exploring the possibility of making crude oil from seaweed

By Forbes India, 17 August 2023
The Bengaluru-based startup uses proprietary automation to develop a large-scale feedstock of seaweed, which has the potential to replace fossil fuels in applications ranging from transportation to agriculture. It is now attempting to produce biofuels and bioplastics.

Swiggy delivery fleet gets Gogoro's smart scooters and battery swapping infrastructure

By IndianWeb2, 17 August 2023
“Accelerating the electric transformation of India’s hyperlocal fleets is a top priority for Gogoro and India’s national and city governments. Partnering with Swiggy, a leading player in the industry, to provide access to Gogoro Smartscooters and battery swapping is essential in successfully transforming India’s urban fleets to electric,” said Horace Luke, founder, and CEO of Gogoro.

Ola Electric to give India its first Gigafactory next year: CEO Bhavish Aggarwal

By Economic Times, 16 August 2023
As per the CEO, the initial capacity of the Gigafactory will be 5 GWh. At full scale, the factory will have 100 GWh capacity, which will also be the world's largest battery manufacturing unit. He added that his company for the past two and half years has been working towards manufacturing Lithium-ion technology cells domestically.

Magenta Mobility leverages high-performance low-code for next-generation e-mobility solutions

By CXO Today, 16 August 2023
The adoption of OutSystems technology enabled the company to streamline its services and provide a seamless user experience. Enabling digital transformation of asset tracking, monitoring, and auditing achieved through the OutSystems platform, Magenta Mobility aims to significantly reduce manual costs and improve accuracy.

Loom Solar deploys solar solutions for clothing units in Haryana, UP and West Bengal

By Energetica, 14 August 2023
Continuing with its focus, Loom Solar has recently deployed 350 kW solar powered solution with its most efficient solar panels...

EV charging startup Exponent eyes funding to grow rapid charging business

By Money Control, 12 August 2023
The CEO declined to give details of the amount but said it would be bigger than the $13 million Exponent raised last year from investors...

Lohum plans cathode active material production by FY26

By Mobility Outlook, 12 August 2023
Producer of sustainable battery raw materials through recycling, repurposing, and low-carbon refining - Lohum plans to get into cathode...

Norfund invests additional INR 350 crore in Fourth Partner Energy

By Mint, 11 August 2023
Norwegian Investment Fund for developing countries, 'Norfund' has announced a fresh investment of INR 350 crore in renewable energy...

OLA Electric’s FY22 loss widens nearly 4X on production expenses

By Yourstory, 11 August 2023
Ola Electric recorded a total consolidated loss of Rs 784.15 crore for FY2022, compared with a loss of Rs 199.23 crore in the previous...

BGauss, Fulfilly, ALT Mobility launch 5000 vehicles for last-mile excellence

By Afternoon, 10 August 2023
BGauss Electric Vehicles, a trailblazer in the electric mobility sector, has partnered with Fulfilly, a premier last-mile delivery service...

LOHUM and Vecmocon collaborate on EV Battery Lifecycle Management

By ET Energyworld, 09 August 2023
​​This collaboration will combine LOHUM's battery testing technology and Vecmocon’s battery intelligence and real-time data monitoring to

Altigreen, Mufin Green Finance join forces to promote electric three-wheelers in India

By CNBC, 08 August 2023
Altigreen, in a company statement, said that it has set up many offline stores where people can buy E3Ws. Mufin Green Finance will help...

Avaada Group to set up 30,000 MW green energy capacity by 2030

By Fortune India, 04 August 2023
Avaada Group which has set up 4 gigawatt (GW) of operational solar-wind capacity, currently has 4 GW under construction and 3 GW in the pipeline. Plans are to develop 11 GW independent power production capacity by 2026 and 30 GW capacity by 2030. It will entail an investment of nearly $10 billion or ₹85,000 crore by 2030.

Secret behind Exponent Energy's 15-minute EV charging tech revealed

By ET Auto, 02 August 2023
Water is the differentiating factor for its core pitch of an industry-leading industry-leading 0-100% battery charge in 15 minutes, for all

Magenta Mobility appoints Vishal Sharma as National Head - Asset

By ET Energyworld, 01 August 2023
Vishal Sharma brings with him over 14 years of experience in Fleet Management, OEM Relationships, and Vehicle Asset Management...

Log9 Materials and Hala Mobility partner to deploy 1,500 fast-charging electric

By ET Energyworld, 31 July 2023
Log9 will also supply Hala Mobility with numerous rapid-charging stations to provide efficient charging options for their customers...

Nawgati charts out expansion plans to scale up footprints in major cities

By CNBC, 29 July 2023
Nawgati, a home-grown innovative fuel aggregator start-up, has announced its expansion into major cities across the country. Built on...

Ather Energy E2W charging network to be expanded through BPCL fuel stations

By Economic Times, 28 July 2023
Through this strategic collaboration, Ather Energy will gain access to BPCL's extensive network of over 21,000 fuel stations across...

IPO-bound Ola Electric recorded $136 million loss in FY23

By Economic Times, 28 July 2023
India's largest e-scooter maker Ola Electric recorded an operating loss of $136 million on a revenue of $335 million in the last financial...

EVs can revolutionize commercial fleets and boost efficiency, says ALT Mobility CEO

By ET Auto, 28 July 2023
The CEO emphasized that company’s unique role as an EV leasing and lifecycle management platform, enabling mobility as a service...

Zypp Electric announces ESOP buyback allocating around Rs 1.5 crore

By Money Control, 27 July 2023
IElectric vehicle (EV) service platform Zypp Electric became the first company in the segment to offer employee stock ownership...

Avaada Energy wins 280 MW solar capacity in SECI auction at Rs 2.61 tariff

By Energyworld, 24 July 2023
The bidding allows flexibility to Avaada Energy to set up the solar power project anywhere in India and supply green electricity on long...

PFC and REC ink Rs 5 lakh crore pacts with green companies

By Economic Times, 22 July 2023
State-owned non-banking financing companies Power Finance Corporation Ltd (PFC) and REC Ltd have signed agreements with major...

Ola Electric to open purchase window for its S1 Air e-scooter from 28 July onwards

By HT Auto, 21 July 2023
Ola S1 Air e-scooter is an eagerly awaited model especially because of its comparatively lower price range compared to other comp...

SAEL, ReNew, Eden, Jakson among winners in SECI's 2 GW solar auction

By MERCOM, 21 July 2023
SAEL and ReNew Power bagged 600 MW each ,quoting INR2.60/kWh (around $0.032/kWh). Eden won 300 MW by quoting INR2.60/kWh...

Ola Electric targeting USD 1.5 billion sales this year, pre-subsidy cut document shows

By Economic Times, 21 July 2023
According to the document, which was prepared ahead of investor meetings for Ola's planned IPO worth up to USD 700 million and was...

Avaada secures $2.44 billion from REC for energy transition projects

By Economic Times, 20 July 2023
State-owned power finance company Rural Electrification Corp. (REC) signed a memorandum of understanding with renewable energy...

Yulu expands in Gurugram in last-mile delivery space

By Money Control, 20 July 2023
Gurugram is Yulu's fourth city after Bengaluru, Mumbai and Delhi, where it already operates a shared fleet of over 25,000 electric vehicles..

CEO Bhavish Aggarwal thinks Ola Electric is on track for an early listing

By Moneycontrol, 17 July 2023
Ola Electric has sold more than 239,000 electric scooters since December 2021 and holds a 38% share in India's electric-scooter market...

BGAUSS to deliver 2000 EVs to PIQYU’s delivery partners through bike bazaar finance

By India Education Diary 16 July 2023
BGAUSS Electric vehicles is pleased to announce a significant partnership with PIQYU, a prominent last-mile logistics provider, and...

Echo Fuels: Redefining India's Energy Industry with Exclusive Doorstep Diesel Delivery

By Startup City, 16 July 2023
Diesel doorstep delivery has gained prominence in India since the last few years. However, in the North Eastern part of India...

Ather e-scooters become more affordable with 100% funding offered by banks, NBFCs

By Economic times, 14 July 2023
As an industry pioneer, Ather has worked closely with some of India’s leading retail finance players, banks, and NBFCs to offer innovative...

Battery Smart secures $33 million in pre-Series B funding

By CNBC TV18, 14 July 2023
Battery Smart, a battery-swapping company, aims to double its customer base and venture into 10 new regions. To support its...

Recur Club Launches $10mn 'Regreen Fund' To Back India's Green Startups

By BW Disrupt, 12 July 2023
It will provide selected companies with access to growth capital without equity dilution, enabling them to scale their...

Indian ride-hailing upstart BluSmart takes on Uber with electric cars

By Financial times, 11 July 2023
BlueSmart is adding hundreds of new electric vehicles a month as it tries to beat Uber and Ola in the race to electrify the country's...

FuelBuddy introduces Buy Now Pay Later service to boost sales

By Startupstorymedia, 10 July 2023
Neeraj Gupta, CEO of FuelBuddy, highlighted the significance of providing credit facilities in the industry, stating, “Traditionally, the...

Subsidy Mess has pushed electric two-wheeler makers into the ICU

By Yourstory, 07 July 2023
The deadlock between the government and a handful of electric two-wheeler makers over the distribution of subsidies has led to

Tiger Global-backed Battery Smart raises $33 Mn in pre Series B

By ENTRACKR, 06 July 2023
Battery swapping network Battery Smart has raised $33 million in a pre-Series B funding round. The round saw participation from...

KPMG in India Kick-Starts Search for Innovative Startups in Energy

By Devdiscourse, 06 July 2023
Applicants will undergo a preliminary screening process under each category and subsequently would be given the opportunity...

ReNew setting up 2 hybrid projects of 70.2 MW in Karnataka for energy park

By Business Standard, 29 June 2023
ReNew is setting up a 27.2 MW...project for Toyota to support its renewable energy requirements for its car manufacturing plant...

Maha govt, Renew Power sign MoU for Rs 20k cr project in Nagpur

By Energyworld, 24 June 2023
An official statement said the project will come up on an area of 500 acres and will lead to creation of 8000-10000 direct...

Orxa Energies inaugurates new facility ahead of electric bike launch

By Business Standard, 23 June 2023
The announcement comes ahead of the launch of Mantis, the company's flagship electric performance motorcycle. It is expected to be...

Magenta Mobility Ropes In New CTO

By BW Disrupt, 05 June 2023
Sathe has a work experience of more than 28 years in the technology domain. Previously, he was at brands such as Bajaj Capital,...

Ola Electric likely to cross $1-bn revenue this year: CBO Ankush Aggarwal

By Business Standard, 04 June 2023
The firm is leading in the electric two-wheeler segment and has sold over 35,000 units in May. Riding on its highest-ever monthly...

Ola gears up to widen e-scooter portfolio for market share gains

By ET, 03 June 2023
Ola Electric, the e-scooter market leader, is seeking to cement its leadership credentials in India's electric two-wheeler market with...

Clean Energy Startup? Apply for EEP Africa Trust Fund (up to €1M)

By, 22 April 2023
EEP Africa is inviting companies, start-ups, and social enterprises in Southern and Eastern Africa to send in applications for...

ReNew Power raises $400 m in high-yield offshore bond issue

By ET, 20 April 2023
The company, controlled by Canada's biggest pension fund manager CPP Investments (CPPIB), priced the bond issue at 8.15%...

United Hosts Cleantech Startups To Pitch Electric Ground Service Equipment Solutions

By CSR Wire, 17 April 2023
United hosted the Los Angeles Cleantech Incubator (LACI) for a day-long event at Los Angeles International Airport (LAX)...

Hometree raises $46 million and acquires BeWarm to build its energy efficiency platform

By techeu, 12 April 2023
The London-based energy efficiency platform adds BeWarm's green home financing platform to its roster in its quest to deliver more...

EV Startup Quantum Energy Roll into Delhi with the Grand Opening of its First Showroom

By indianWeb2, 12 April 2023
Quantum Energy, a leading electric vehicle (EV) start-up specializing in the design, development, and manufacturing of electric...

British energy startup raises $6.7M to make 90-second-recharging battery from tree pulp

By techfundnews, 11 April 2023
Allotrope Energy, a UK-based energy startup developing batteries for use in the mobility, aerospace, and robotics industries, now...

Shipping ministry issues draft Sagarmala Innovation and Startup Policy

By Economictimes, 10 April 2023
According to an official statement, the draft 'Sagarmala Innovation and Startup Policy' pitches for digital portal-based selection of...

Banyan Nation: Climate warriors chipping away at India's plastic problem

By Forbes India, 7 April 2023
Of the 3.4 million tonne waste that the country generates, only 30 percent is recycled—the rest finds its way to landfills. Banyan...

Green energy startup Ossus raises pre-Series A round worth $2.4 Mn

By ENTRACKR, 5 April 2023
The company plans to utilise the funds to accelerate the deployment of Ossus’s OB HydraCel across other sectors, including refining...

EV Startup Magenta Mobility Raises $22 Mn From bp, Morgan Stanley

By Inc42, 5 April 2023
Mumbai-based electric mobility startup Magenta Mobility on Wednesday (April 5) announced that it has raised $22 Mn...

Planify gets startup VCI Chemicals on its platform

By Business Standard, 30 March 2023
Planify has recently opened its doors to bring onboard the rapidly emerging star in the Crude Coal tar Industry, VCI Chemical Industries...

5 Innovative Startups Revolutionising India’s Renewable Energy Sector

By thebetterindia, 13 March 2023
These five game-changing startups are leading the change in India’s shift towards renewable energy sources, leveraging technology...

Gurugram startup Shypmax Maximising cross-border logistic services

By Yourstory, 06 February 2023
Shypmax provides cross-border deliveries and shipping solutions to over 220 countries, including the UK, the US, Europe, and the Middle...

MapmyIndia Invests In Fuel Aggregator Startup Nawgati At $4 Mn Valuation

By inc42, 13 September 2022
Listed geotech unicorn MapmyIndia has invested an undisclosed amount in fuel aggregator startup Nawgati at a valuation of...


By YOURSTORY 14 July 2022
AI-based SaaS (software-as-a-service) startup Detect Technologies on Thursday announced that it raised $28 million in primary and...

Electrolyzer Firm Ohmium to Lift India Output Fourfold

By Mint, 04 July 2022
Ohmium India, an arm of US-based renewable energy startup Ohmium International, aims to increase its production capacity fourfold...

Why does this startup hire only bikers?

By Financial Express 29 April 2022
In an industry where major manufacturers are looking at building electric scooters, one Bangalore-based startup has built...

Commonwealth Fusion Systems Raises $1.8 Billion in Funding

By prnewswire, 1 December 2021
Commonwealth Fusion Systems (CFS) announced it has closed on more than $1.8 billion in Series B funding to commercialize...

FAIRMAT startup looks to develop technologies for recycling carbon fiber

By CompositesWorld, 1 November 2021
So far, FAIRMAT has fundraised €8.6 million to industrialize its proprietary technology for recycling carbon fiber composites...

Rwandan electric motorcycle startup Ampersand secures $9m debt facility

By Disrupt Africa, 1 November 2021
Rwanda-based electric motorcycle company Ampersand has secured a US$9 million loan facility from the US International...

Wellesley-based startup is betting on waste-to-energy industry

By Business Journals, 27 October 2021
The company is still at a relatively early stage, operating six anaerobic digesters in New England, five in Massachusetts...

US battery start-up Redwood Materials sets deal with Korea's L&F

By The Economic Times, 27 October 2021
Redwood has signed a multi-year deal to use L&F's design and manufacturing technology at a new US facility to make enough...

Energy Market Access Platform Leap Raises $33.5 Million in Series B Fundingcv

By Mercom, 18 October 2021
Energy market access platform Leap has raised $33.5 million in equity and debt in Series B funding led by Park West...

Shell-Backed Silicon Ranch Buys Solar Startup Clearloop

By Bloomberg, 14 October 2021
Silicon Ranch, a solar developer backed by oil giant Royal Dutch Shell Plc, acquired a startup that funds its clean energy projects...

Exponent Energy's Solution Will Charge Your EV in 15 Mins

By thebetterindia, 14 October 2021
Exponent Energy, a Bengaluru-based startup, has built a battery pack and charging station called E-pack and E-pump, respectively...

Mumbai-based startup Earth Energy EV appoints distributors in 10 states

By Economic Times, 13 October 2021
The startup has set up a 20,000 sq ft greenfield manufacturing facility, which can be expanded to an additional 20,000 sq ft...

RatedPower scores €5.2 million to boost digitalization of solar industry

By EU-Startups, 13 October 2021
RatedPower, a SaaS startup developing cloud-based solutions to help companies discover smarter ways to maximize the potential...

Renewable energy developer with large backers launches in Denver

By The Business Journals, 07 October 2021
A new Denver renewable energy startup aims to develop large-scale projects, focusing first on building solar power where it can...

Siemens acquires French IoT and buildings energy management startup

By Smart Energy, 07 October 2021
Siemens Smart Infrastructure has acquired French IoT startup Wattsense to expand its offering within the buildings energy...

AI Gore Puts $600 Million Into Octopus Energy Group

By TechCrunch, 01 October 2021
Former Vice President Al Gore has invested $600 million of equity into U.K. energy startup Octopus Energy Group via his Generation...

BP leads $25 million funding round in EV ride-hailing startup BluSmart

By Energyworld, 30 September 2021
BP leads $25 million funding round in EV ride-hailing startup BluSmart. It led a USD 25 million Series A round that also saw support...

Two African start-ups win the Startup Energy Award

By ESI Africa, 30 September 2021
Kenyan start-ups, Drop Access and Inno-Neat have won the Startup Energy Award presented at the end of the Energy Camp East Africa

Solar Startup Born in a Garage Is Beating China to Cheaper Panels

By Bloomberg, 14 September 2021
Australia-based SunDrive has made a materials breakthrough that promises to increase the efficiency and lower the cost of solar panels....

Pune Startup Mantra: Repos aims to be the ‘Amazon’ for fuel delivery in India

By Hindustan Times, 28 August 2021
The ability to address a problem with a cost-effective solution is the base line for any startup in the world, but especially so in India….

Iron-air long-duration battery startup Form Energy closes US$240 million funding round

By Energy Storage, 25 August 2021
Form Energy has closed its Series D financing round, with investors including steel company ArcelorMittal putting US$240 million into the Boston-headquartered….

Nawgati charts out expansion plans to scale up footprints in major cities

By CNBC, 29 July 2023
Nawgati, a home-grown innovative fuel aggregator start-up, has announced its expansion into major cities across the country. Built on...

EV Startup Magenta Mobility Raises $22 Mn From bp, Morgan Stanley

By Inc42, 5 April 2023
Mumbai-based electric mobility startup Magenta Mobility on Wednesday (April 5) announced that it has raised $22 Mn...

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