IAN funds renewable energy startup Carbon Masters

By Raaghav G R

Posted on June 30, 2017

Carbon Masters India Pvt. Ltd. is a Bengaluru – based renewable energy provider and a startup. The startup had announced yesterday (29/06/2017) that it has secured Seed funding from the VC firms, Sangam Ventures and Indian Angel Networks (IAN). The exact amount of funding it had received was not revealed. This round of funding was led by Nagaraja Prakasam and Mridula Ramesh from IAN and Karthik Chandrasekar from Sangam Ventures. Prakasam and Chandrasekar will join Carbon Masters’s BoD. Read more on Investments

Carbon Masters was founded in 2012, claims to have developed India’s first bottled bio-CNG brand called Carbonlites. Carbonlites is bio – CNG produced by the biomethanization (by certain species of bacteria) of organic wastes. Carbon Masters had recently entered into a partnership with Mahindra & Mahindra where the later will fund the former to build plants that can convert organic waste into natural gas (Methane). Carbon Masters also offers bulk waste management solutions to hotels, IT parks, commercial kitchens and apartment complexes.

Carbon Masters was founded by Som Narayan who has been working in the climate change domain for the past six years and Kevin Houston who had previously worked with IBM and PwC.

“India has barely used its biogas energy potential and the sector has suffered from poor corporate and investor interest while European markets have saturated their potential. The Carbon Masters’ team is focused on developing marketing and distribution linkages under the Carbonlites brand among farmers, municipalities, agro-industries and consumers for gas and fertilizers”, said Chandrasekar.

Producing energy from organic waste or organic waste management is an under-tapped sector in India. Therefore only a few startups are working in this sector and have gotten funded. They include the renewable energy startup, Lightsource India which secured an undisclosed amount of seed funding from Green Investment Bank during April this year and National Centre for Performing Arts (NCPA) which received a fund of Rs. 2.36 crores (for installing solar panels on houses’ rooftops) from Tata Cleantech Capital Limited (TCCL) during April this year (2017). Read more on Startup News

IAN funds renewable energy startup Carbon Masters