Repos Energy raises fund from Ratan Tata, to bring biofuels on its network
1 min read 18 May 2022, 07:25 PM ISTRepos Energy is working to bring ethanol, methanol on its mobile distribution network
_1639206835262_1652881828510.jpg "Repos Energy mobile petrol pump")
PremiumNational start-up award winner Repos Energy has raised a pre-series A round of funding from Chairman Emeritus of Tata Sons, Ratan Tata, followed by other undisclosed investors. The newly-raised funds of ₹560 million are in a combination of equity and debt.
The latest funding will help the Repos Energy re-fuel the energy distribution sector for a ‘carbon-light’ tomorrow, as it has already seen a popular demand. As a part of its energy distribution system, the startup is now working on bringing renewable energies such as ethanol, methanol and biofuels on its mobile distribution network.
Founded by husband-wife duo, Chetan Walunj and Aditi Bhosale Walunj, Repos plans to use the funds in building its product line, expansion into different geographies of India, as well as team-building. It will also enable the startup to invest in the latest technologies such as IoT, AI, and blockchain to make the energy distribution system of India absolutely seamless in future.
On backing Repos Energy for the second time around, Ratan Tata said, “Repos is a well-conceived project with good execution. I wish them all the success."
Aditi Bhosale Walunj, Founder said, “The world is moving towards a carbon-neutral future, and Repos Energy is working towards this goal by bridging the gap between the supply and demand of fuels. Our ultimate goal is to make all clean fuels available at a single click of the phone and bring it to the doorstep of our customers through an e-commerce platform. Currently, India’s infrastructure is heavily dependent on diesel, and it is our responsibility to use it sustainably. We will use this distribution network to bring clean and green fuels to the end-users in the near future."
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