Months after Inc42 exclusively reported on Greenjoules’s fundraise, the cleantech startup announced the closure of its Series B round at ₹150 Cr ($16 Mn). The round was co-led by Amazon’s Smbhav Venture Fund and Climate Pledge Fund, with participation from Rainmatter and Singularity’s Strategic Autonomy Fund.

The startup said that the fresh funds will support its new plant at Pune’s Khed City with the capacity to produce 2 Lakh litres of biocrude a day from agricultural waste. The facility will be developed in phases from 2027, which is expected to be the largest of its kind in India.

Additionally, Greenjoules also secured a ₹100 Cr debt from Technology Development Board (TDB), under the Government of India’s Department of Science and Technology.

“Greenjoules was built without a map; every step forward meant first inventing the path. We took two things that looked irreconcilable — low-energy-density agricultural waste and specification-grade fuel — and spent more than six years proving they were one and the same. With the concept proven and partners such as TDB and our Series B investors behind us, we are ready to make a deep impact on the global energy market, and to carry that pioneering spirit into sustainable aviation fuel,green hydrogen and sustainable materials.” said Shweta Viraraghavan, cofounder and chief technology officer, Greenjoules.

Pune-based green energy startup Greenjoules has raised about ₹62 Cr ($6.5 Mn) in what appears to be an ongoing Series B funding round. 

com NV Investment Holdings, is leading the funding round, Singularity AMC’s Singularity Strategic Autonomy Fund also participated in the round.

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