Promethean Energy secures $2 Mn in pre-Series A round

Cleantech startup Promethean Energy has raised $2 million in its pre-Series A round led by Transition VC.

The round also saw participation from Sangam Venture, Sagana Capital, and Fondation Botnar.

The startup plans to use the funds to add more products, develop AI tools to save energy, and expand in India and Southeast Asia.

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About Promethean Energy 

Founded in 2014 by Rajat Agarwal and Ashwin Krishna, the Mumbai-based Promethean Energy makes industrial heat pumps and waste heat recovery systems that replace fossil-fuel-based heating. Its products include thermal storage, smart controls, and energy monitoring.

Designed for Indian industries, the company offers its solutions through both CAPEX and ESCO models.

Promethean’s systems are used by companies like Hindustan Unilever, Godrej Industries, and Raymond Textiles. They serve sectors such as chemicals, textiles, FMCG, and steel, helping save over 100,000 tonnes of CO2 each year.

The company plans to help decarbonise 1,000 factories by 2027 and is getting ready to launch pilot projects in Bangladesh, Indonesia, and the Middle East.

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