Online marketplace for biomass and biofuels, BiofuelCircle has raised $0.75 million in its second round of seed funding from Spectrum Impact, Better Capital, Dr Shridhar Shukla, and others.
Since its inception, the startup has raised $1.75 million in funding so far.
Pune-based BiofuelCircle was launched in July 2021, It is a digital platform for green fuel, which creates a farm-to-fuel ecosystem and operates in Maharashtra, Gujarat and Tamil Nadu.
The startup has established a three-way e-marketplace connecting buyers and sellers with service providers for transportation, warehousing and other supply chain services.
The startup is also working on empowering rural communities by increasing economic value, clean energy and employment opportunities.
Suhas Baxi, Co-Founder and CEO, BiofuelCircle said the company aims to expand its digital toolkit and start operations in North India by the end of this year.
Its digital platform currently serves over 400 active members and caters to over 50 biomass-based products.
BiofuelCircle Private Limited, based in Pune, India, founded in June 2020, is registered as a start-up with the Start-up-India program. The driving force behind the creation of BiofuelCircle was a strong will and need to build a reliable and cost-effective bioenergy supply chain.
BiofuelCircle is the first and one-of-its-kind online marketplace in India, specially designed for biomass and biofuels. This revolutionary concept creates a reliable and highly advanced digital platform and an organized physical ecosystem for the stakeholders of the bioenergy supply chain in various parts of India.
BiofuelCircle is helping businesses grow by creating new opportunities in the Farm-to-Fuel ecosystem, simultaneously enabling a circular economy for agro-waste, generating rural empowerment, and reducing carbon footprint.