The Bangalore-based climate-tech venture, Carbon Masters India Private Limited, has raised an undisclosed amount in a Pre-Series A round led by Schneider Electric Energy Access Asia (SEEAA). Carbon Masters is a tech-enabled sales platform for bio-CNG and bio-enriched organic manure, sold under its brand ‘Carbonlites’, that are produced from organic waste portion of Municipal Solid Waste (MSW) and agri waste across 3 states in India (Karnataka, Tamil Nadu, Telangana)
This funding round was led by SEEAA, with participation from existing and new investors such as Bharat Founders Fund, Sangam Ventures, Indian Angel Network (IAN), Nativelead Foundation, Avalok Consultancy and others. Carbon Masters’ products and business model has received a major boost recently given significant rise in global oil and gas and fertilizer prices, and ESG/climate impact and Net Zero considerations/commitments from both governments and private sector worldwide.
Read also – [Funding alert] NATUREPRO raises Rs 50 lakh in seed round
Founded by Som Narayan and Kevin Houston, Carbon Masters is a climate tech company with offices in the UK and India.
“We are delighted with the support from both our existing and new investors which proves their conviction in our business model and execution capabilities, and we welcome SEEAA to our Board”, said Som Narayan, co-founder of Carbon Masters. “These funds will help us increase our bio-CNG and organic manure production and sales capacity, as we prepare for a larger fundraise soon to scale our business even further.”
Gilles Vermot Desroches, Senior Vice President Corporate Citizenship Schneider Electric and President of SEEAA, opined that, “This investment reflects our belief in the potential for cleaner cooking solutions to deliver significant environmental and social benefits, as well as in the Carbon Masters team’s experience and ability to build this model at scale.”
SEEAA is a EUR 21Mn investment vehicle managed by Schneider Electric to invest in early-stage clean energy ventures in South and Southeast Asia.
Bangalore-based climate-tech focused Investment Advisory firm, Ecoforge Advisors, acted as the sole transaction advisor to Carbon Masters on this transaction. The Company and the Founders were represented by NovoJuris Legal, a Bangalore-based law firm.
Read also – [Funding alert] AI startup unSCRIPT.ai raises $1.25 mn in funding
About Carbon Masters India
Carbon Masters strives to devise practical solutions that are not only eco-friendly, but also make great business sense. That’s because they believe that a good business is one that keeps all the stakeholders happy, and that the earth is our biggest stakeholder.
About Schneider Electric
Schneider Electric’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. Schneider drives digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.
