Investor list for Indian Climate Startups
Finding the right investor is tough for all startups, but it’s especially tricky for climate-focused ones. There are different types of investors, and each one has their preferences. Investor looking for mobility companies may not be interested in battery recycling, where as someone wanting to abate plastic pollution may be more receptive. Further Some like tech that cuts emissions, others prefer software driven solutions that will scale fast. Foundations are interested in funding impact driven work whereas strategic investors are looking for startups that would align with their climate mandates.
Plus, funding availability with investors varies. Some are raising money themselves and don’t have much to invest right away. Others are half way through the fund life and want to invest in mature companies that can provide them an exit in 3-4 years.
To help, we’ve made a list of climate investors. We’ve picked ones who’ve invested in climate startups before and have money to invest now. We’ve ranked them by how active they are. So, if you’re a climate founder, check out our list and find your ideal match.
Climate Investors for Indian startups
| Parameter | Pre seed/Seed | Seed/Series A | Series A/Series B and beyond |
|---|---|---|---|
| Ticket Size | < $500k | $500k to 3 mn $ | > $ 3 mn |
| Rainmatter | Blume Ventures | Circulate Capital | |
| Deals | Akshayakalpa, JSP Enviro, Amwoodo | Bambrew, Vecmocon, Aerem, Battery Smart | Recykal, Ace Green recycling, Lucro, Deluxe recycling |
| Sectors | All climate sub sectors, ticket size up to $1mn. | Climate is one of the key themes | Plastic waste supply chain, Plastic alternatives |
| Fund size/ vintage | Capital frm founders of Zerodha | Investing out of ~$290M fund that was closed in 2021 | Deploying from $76 mn fund that was closed in December 2023. |
| Social Alpha | Avaana Capital | SBI Neev fund | |
| Deals | eBik, Canvaloop, PadCare, Ergon labs, Rechargion, Strawcture, JSP Enviro | Kazam, Eeki foods, Terra.do, Praan, Turno, Aerem | Chakr innovation, GPS renewables, Hydrogen company |
| Sectors | Climate & other impact sectors | Climate focussed | all climate sub sectors, ticket size-$ 8-$10 mn |
| Fund size & vintage | Supported by Tata Trusts | Currently raising $ 150 mn fund, announced first close of $ 70 mn in 2023. | Currently deploying from its Neev 2 fund, which was launched in May 21, with a corpus of INR 1000 crore ($ 125 mn USD) |
| Capital A | Axilor Venture | British International Investment | |
| Deals | Entuple E-Mobility, Tan 90, Oorja energy, Bambrew and more | Fluxgen, Devik Earth, Solar ladder, Oorja energy, New trace | Battery Smart, Euler Motors, Akshayakalpa |
| Sectors | Climate among other sectors | Climate tech, along with other sectors | Impact-led, sector agnostic |
| Fund size & vintage | Family office of Manjushree Technopark | founded by Infosys co-founders. investing out of its second fund of $ 100 mn launched in July 2022. | Perpetual funds from the UK govt , it is the development finance institution of the UK government. |
| Theia ventures | Peak XV partners | Aavishkaar Capital | |
| Key deals | Canvaloop fibre, Varahas, Edge grid, Exponent Energy | Climes, Metastable materials, New Trace, Absolute foods | Newtrace, Nepra |
| Sectors | Climate focussed | Sector agnostic | Impact sectors including climate |
| Fund size & vintage | Family office | Raised $2.85 bn in 2022 to invest in Indian and Southeast Asian startups. | Investing out of $ 150 mn fund, which was closed in Nov 2023 |
| Speciale Invest | Omnivore | Shell ventures | |
| Deals | Uravu labs, NewTrace, e-TRNL Energy, Metastable materials | Varaha, Fibmold, Bioprime, Loopworm, altM | Alt mobility, Offgrid energy, Statiq |
| Sectors | Deeptech | Agriculture | Mobility and related sectors |
| Fund size & vintage | Investing out of INR 286 crore ($ 32 mn) fund closed in April 22 | Investing out of $ 150 million fund, closed in July 23 | Investing from Shell's balance sheet |
| Spectrum Impact | Accel partners | Raintree Family office | |
| Deals | Biofuel circle, PadCare Eeki foods | Fibmold, Aacacia, Spintly | Proklean, Smart joules |
| Sectors | Climate & other impact sectors | Sector agnostic, climate is a key theme | Focussed only on climate |
| Fund size & vintage | Family office of Aarti industries | Deploying from its 7th fund, raised in March 2022 with a total corpus of $650 million | Family office of promoters of Camlin group |
| Inflection point ventures | Kalaari Capital | Morgan Stanley India Infrastructure | |
| Deals | BuyoFuel, Kazam, Ishitva, Snap E | Chara technology, Clime, Clean Electric, Baaz bikes | Magenta EV, Recykal |
| Sectors | Sector agnostic | Climate is a key theme | Invests in infra platforms and infras services companies |
| Fund size & vintage | Pools money from its members | Investing out of its fourth fund, raised in 2021 | Fund size -$180 mn, raised in July 2020 |
| Climate angels | Green Frontier Capital | Temasek | |
| Deals | Sheru, Solarsquare, Beco, Matter | Zero cow factory, Battery smart, Blu Smart | Ola electric, Atomberg Technologies |
| Sectors | Climate focussed | Climate focussed | Impact investor |
| Fund size & vintage | Angel network | Deploying from its fund that was announced in 2021. | Owned by the government of Singapore. |
| Advantedge Founders | Blue Ashva capital | Baring Private equity | |
| Deals | Exponent, Baaz bikes | Entuple E-Mobility, Tan 90, Bambrew, Green Jules, Devik earth, Godi | Satsure Analytics, Loham |
| Sectors | Mobility | Climate and other impact sectors | Sector agnostic |
| Fund size & vintage | Currently raising its third fund of $ 100 mn | Investing from rom $ 60 mn fund, raised in 2020 | Not available |
| Anicut Capital | Gruhas | IFU | |
| Deals | Altron EV, Uravu labs, Charge up | Ossus bio, Zerund, Smarter Dharma | Smart Jules, Blue planet environmental solutions |
| Sectors | Sector agnostic | Prop tech | Climate startups across sectors |
| Fund size & vintage | Angel network | $ 100 mn fund by Abhijit pai of Puzzolana and Nikhil Kamath of Zerodha, started deploying in 2021 | Danish SDG Investment Fund with a corpus of $ 800 mn and addiotnal funds of $ 23 mn USD under India Climate Finance Initiative. |
| Indian Angels | Schneider Electric Energy Access (SEEA) | BP ventures | |
| Deals | Green pod labs, Boson water, Carbon masters | Biofuels junction, Freyer Energy | Blu Smart, Magenta |
| Sectors | Sector agnostic | Startups enabling energy access to individuals and small businesses | Mobility |
| Fund size & vintage | Member network, now has a fund to invest in series A cos | Currently investing out of its third fund of $ 22 mn) fund, raised in 2019 | Investing out of the balance sheet of BP ventures |
| Venture Catalyst | Ankur Capital | Dare Ventures | |
| Deals | Zypp electric, Charge zone | String bio, Offgrid energy | Ecozen, String Bio |
| Sectors | Sector agnostic | Deep tech including climate | Startups with synergies with Coromandel group |
| Fund size & vintage | Angel network | Currently raising $ 150 mn fund | Family office of Coromandel group |
| Ah ventures | Mela ventures | Asha Ventures | |
| Deals | Starya mobility, Hydenmet Solutions | Tessol, Indra Water | Ascend capital, Nepra |
| Sectors | Sector agnostic | B to B startups | Impact startups including those in climate, ticket size $ 2-5 mn |
| Fund size & vintage | Angel network | INR 320 crore ($ 40 mn) fund floated by the founders of Mindtree in March 22 | Announced first close of its $ 100 mn fund in December 2023 |
| Mumbai Angels | Transition VC | Zephyr Peacock | |
| Key deals | B Live, Rukart, Indi energy | Emo energy, Exponent energy, Charge Zone | Batx energy, VidyutTech |
| Sectors of interest | Sector agnostic | Clean Energy | Investing in SMEs across industries |
| Fund size and vintage | Angel network | Currently raising INR 400 crore fund ($ 47 mn), announced in November 2022 | Third fund of $ 100 mn was raised in 2020, currently raising its fourth fund |
| Jito ventures | Peak ventures | Incofin Water Access Acceleration Fund | |
| Key deals | Nexus power, Batx energy, Uravu labs | Proeon, Indra water | Rite water solutions |
| Sectors of interest | Sector agnostic | Climate focussed | Water infrastructure |
| Fund size and vintage | Angel network | Currently raising $150 million fund | $ 38 mn fund, launched in October 2023 |
The table below shows a breakdown of investors by sector. It also includes investors who might not be on our list above because they haven’t recently invested in climate projects, but are actively considering such opportunities
Investor List as per their sectoral focus
| Sector | Investors |
| Agri | Omnivore, Nab ventures, Caspian Leaf fund |
| Deeptech | Speciale invest, Pi ventures, Ankur capital, Exfinity Venture partners, Emerald Technology Ventures, Theia ventures, Aera VC, Shastra VC, Blue hill capital |
| Mobility | Advantedge Founders, BP ventures, Shell Ventures |
| Consumer | Setllaris, Saama, Fireside, Rukam |
| Waste management | Circulate, Hearth ventures, IFU |
| Energy access | SEEA, SIMA advisors, Transition VC |
| Fintech | Flourish ventures, Omnivore |
| Water | Peak ventures, Incofin |
| Impact/Livelihood | Upaya, Elea foundation, Acumen |
| Prop tech, construction | Gruhas, Foundamental VC |
| Across all climate subsectors | Rainmatter, Blume, Avaana capital, Neev Fund, Blue Ashva , 3 one 4 capital, Avishkaar, Accel, all angel networks, Info edge ventures |
Hope you find this blog useful. If you have a questions, want to add to the list, pls write to us
