Banyan Green raises Rs1 crore from I3N and others
The company is looking to generate and supply 1 million tonnes of green fuel by 2017
Mumbai: Telangana-based clean energy startup Banyan Green Fuels Pvt. Ltd. said on Friday that it has raised Rs1 crore in funding.
This funding round was led by Intellecap Impact Investment Network with participation from existing investors. Naveen Kshatriya, founder of Kshatriya Ventures and Rema Subramanian, partner at Ankur Capital, participated in the funding round.
“Banyan Green has an incredible potential to bring down energy costs as well as reduce carbon footprint," Subramanian said in a statement. “Efficiency on the field is crucial for scale-up, and the company is looking to develop a robust model across stakeholders at the grassroots," she added.
The company was founded by Nityanand Agrawal in 2014. It is involved in the process of collecting and processing agricultural waste, supplying this processed waste to large corporations to meet their green fuel energy requirements. The company is looking to generate and supply 1 million tonnes of green fuel by 2017.
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