Greenjoules Raises Rs 150 Crore Co-Led by Amazon Funds
Amazon's Smbhav Venture Fund and Climate Pledge Fund co-led the Pune renewable fuels maker's Series B round.
Key Takeaways
- Greenjoules raised Rs 150 crore in a Series B round.
- Amazon's Smbhav Venture Fund and Climate Pledge Fund co-led the round, with Rainmatter and Singularity's Strategic Autonomy Fund joining.
- The company also secured a Rs 100 crore loan from the Technology Development Board, taking total financing to Rs 250 crore.
- Blue Ashva Capital led the 2021 Series A.
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Greenjoules, a Pune-based company that makes renewable fuels from agricultural waste, has raised Rs 150 crore in a Series B round co-led by Amazon's Smbhav Venture Fund and Climate Pledge Fund. Rainmatter, the investment arm of Zerodha, and Singularity's Strategic Autonomy Fund also took part in the round.
Separately, Greenjoules has secured a Rs 100 crore loan from the Technology Development Board (TDB), which comes under the Department of Science and Technology. The company said the equity round and the loan together bring its financing for the expansion to Rs 250 crore. Blue Ashva Capital led the company's Series A round in 2021.
Greenjoules funding at a glance
| Detail | Greenjoules |
|---|---|
| Equity round | Rs 150 crore, Series B |
| Co-lead investors | Amazon's Smbhav Venture Fund and Climate Pledge Fund |
| Other investors | Rainmatter (Zerodha's investment arm) and Singularity's Strategic Autonomy Fund |
| Loan | Rs 100 crore from the Technology Development Board |
| Total financing | Rs 250 crore (equity and loan together) |
| Series A lead (2021) | Blue Ashva Capital |
| Sector | Renewable fuels from agricultural waste |
| City | Pune |
What Greenjoules does
Greenjoules turns crop residue and other agricultural waste into biocrude, which is then refined into renewable diesel. It also makes bio-naphtha from the same process. The company runs its plant at Chakan, near Pune.
Its renewable diesel is a drop-in fuel, which means it can be used in existing vehicles and fuel infrastructure without changes.
Greenjoules's journey so far
| When | Milestone |
|---|---|
| 2018 | Greenjoules is founded |
| June 2021 | Raises about $4.5 million in a round led by Blue Ashva Capital |
| November 2026 | Raises Rs 150 crore in Series B and secures a Rs 100 crore loan from the Technology Development Board |
Where Greenjoules stands after its Series B
Founded in 2018, Greenjoules now has Rs 150 crore in fresh equity and a Rs 100 crore loan from the Technology Development Board, a total of Rs 250 crore. It makes renewable diesel at its Chakan plant near Pune.
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Frequently Asked Questions
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