GPSR Arya has raised nearly $5.4 million (Rs 50 crore) in mezzanine funding from Alternates by Axis AMC, while Bhubaneswar-based Aquapulse has raised nearly $2.7 million (Rs 25 crore).
Alternates invests in GPSR Arya
GPSR Arya, the asset platform of GPS Renewables, has raised nearly $5.4 million (Rs 50 crore) in mezzanine funding from Alternates by Axis AMC, it announced on Thursday.
The funding will be utilised to accelerate the development of compressed biogas (CBG) projects across India through GPSR Arya’s partnerships with public sector oil marketing companies, including Indian Oil Corporation Limited and Bharat Petroleum Corporation Limited, the company said in a statement.
GPS Renewables is currently developing biogas projects with a capital outlay approaching $1 billion. The company is expanding into more alternative fuels, including Sustainable Aviation Fuel (SAF). Its projects include an MSW-based CBG plant in Indore, a CBG plant in Barabanki, and a CBG complex in Kakinada.
NABVENTURES backs Aquapulse
Bhubaneswar-based Aquapulse, an aquaculture tech startup, has raised nearly $2.7 million (Rs 25 crore) in an ongoing Series A round led by NABVENTURES Ltd, the venture capital arm of NABARD, through AgriSURE Fund.
The capital will be deployed for expansion and setting up an in-house processing facility. The move will help the firm expand its current farmer network from 6000+ to over 15,000+ across Odisha, Andhra Pradesh and West Bengal; and strengthen its technology stack.
The company is also investing in AI-led pre- and post-harvest systems and its tech-led transparent pricing model.
