Sustainability Next|July 2017
Carbon Masters, a Bangalore based energy start-up, has raised an undisclosed amount from Indian Angel Network and Sangam Ventures, a pure play clean tech venture fund.
This round was led by IAN investors Nagaraja Prakasam, Mridula Ramesh and Karthik Chandrasekar from Sangam Ventures. Nagaraja Prakasam and Karthik Chandrasekar will join Carbon Masters as Board Members to strengthen the leadership team.
Established in 2012 Carbon Masters has pioneered the development of India’s first bottled bio-CNG brand Carbonlites. Launched in 2014, Carbonlites is bio-CNG produced from the biomethanisation of organic waste streams, diverts waste from landfills mitigating methane emissions, displaces LPG for commercial cooking, and other fossil fuels for transport and backup power generation.
India is the 4th largest market for LPG in the world. Carbonlites provide India with a lower cost, carbon neutral alternative to the use of fossil fuels. It provides a more sustainable way of managing organic waste streams in Indian cities and makes it a unique carbon mitigation solution.
The company is planning to utilize the funds in product developments, senior, marketing and engineering level hiring and project developments.
The company has entered into a partnership agreement with the Mahindra & Mahindra for building large scale waste to energy plants. The first such plant will be operational soon in Malur, Karnataka.
You can read upto 3 premium stories before you subscribe to Magzter GOLD
Log-in, if you are already a subscriber
Get unlimited access to thousands of curated premium stories and 5,000+ magazines
READ THE ENTIRE ISSUE