Q1 22 round-up: VC Investment in Indian Climate Startups
Electric mobility continued to dominate VC investments in climate startups in Q1 22, accounting for 85 per cent of the total investment of around $ 400* mn. Other sectors that attracted capital were waste management, green fuels, water and sustainable products.
There were 27 deals, while most deals were seed stage, there were a few growth stage investments as well. These include Ola electric, Ather Energy, Reckyal, GPS renewables, Altigreen.
This quarter also saw new fund announcement from Insitor Partners, which raised $42 million for Insitor Impact Asia Fund II (IIAF II).
- Electric mobility accounted for 85% share of total funding at $ 330 mn. Within electric mobility, most funding went to electric scooter manufacturers followed by commercial EV manufacturers and charging infrastructure providers. Additionally, a couple of micro-mobility platforms (Pi Beam and ElecTorq) and a battery technology startup (Offgrid Labs) raised their seed round.
- Waste management was second, driven by $ 22 mn fund raise of Recykal.
- Green fuels were third largest, driven by the fund raise of GPS Renewables
- Solar was at the fourth place, with the fund raise of EdgeGrid, a platform that allows SMBs to trade in solar power.
- Sustainable products were fifth largest, with a number of startups such as Bambrew, Sustainkart, Green Pod labs attracting funds.
- Other sectors that caught investors’ attention were air pollution control and water. In air pollution space, Praan raised capital, whereas in water sector, two startups, Boson water and Kristnam technologies got funded.
- The investor pool expanded with celebrity investors Virat kohali and Anushka Sharma investing in Blue tribe foods. Broadly, the investors could be divided into following categories.
You can download the list of VC investments in Q1 22 in Indian climate startups here
[*] Source-India Impact Investors council, Your Story and Fine Train research