Greenjoules raises $6.5 Mn Series B led by Amazon
5 Mn in an ongoing Series B from Amazon and Singularity AMC to convert agricultural waste into renewable industrial fuels.
- Stage
- Series B
- Status
- Announced
Greenjoules, a Pune-based startup converting farm residues into renewable fuels, has raised about ₹62 Cr ($6.5 Mn) in what appears to be an ongoing Series B funding round.
Amazon.com NV Investment Holdings is leading the round, contributing ₹45 Cr. Singularity AMC’s Singularity Strategic Autonomy Fund also participated with about ₹17 Cr. Greenjoules declined to comment on the total size of the round.
Founded in 2018, the company converts farm residues into renewable fuels that can be used in existing diesel engines and industrial equipment, substituting crude oil with agricultural waste.
Its pipeline includes sustainable aviation fuel, green hydrogen and biomethane. India’s cleantech market is projected to become a $152.5 Bn market by 2030.
Prior to the ongoing round, Greenjoules raised $4.5 Mn in a combination of equity and debt from Blue Ashva Capital in 2021.
