BiofuelCircle Raises ₹35 Crore to Accelerate India's Biomass Supply Chain and Bioenergy Ecosystem

Suhas Baxi, Group CEO and Co-founder, BiofuelCircle

BiofuelCircle, India's leading digital platform for biomass and biofuels, today announced that it has secured ₹35 crore in bridge funding from its existing investors to support the next phase of its growth by strengthening working capital and accelerating India's biomass supply chain.

The funding round was led by Spectrum Impact, with participation from Better Capital, Karma Capital and other existing investors through their respective investment vehicles.

The fresh capital will be deployed towards working capital requirements to support the company's planned growth trajectory by leveraging the biomass aggregation infrastructure and operational network built over the past years. The funding will also complement additional working capital financing facilities, enabling BiofuelCircle to deepen its role in building an efficient, transparent and reliable biomass ecosystem that supports India's clean energy transition.

Founded in 2020, BiofuelCircle has built a digital platform that connects farmers, biomass aggregators, suppliers, transporters and industrial consumers, enabling efficient biomass sourcing through technology-driven price discovery, logistics, quality assurance and trade facilitation. The platform helps unlock value from agricultural residue while ensuring dependable biomass availability for industries adopting cleaner fuels.

Over the past year, BiofuelCircle has continued to strengthen its market presence, recording significant business growth and expanding its network across 10 states , 800 villages , 1.7L + farmers, 1300+ biomass suppliers and 400+ industrial buyers. During FY26, the company expanded its Biomass Bank network by adding 50 new Biomass Banks and continued to strengthen its supply chain and its digital marketplace. The company remains focused on leveraging its existing infrastructure to sustain its planned growth momentum and make biomass procurement more organised, efficient and scalable for India's growing bioenergy sector.

Commenting on the funding, Suhas Baxi, Co-founder & Group CEO, BiofuelCircle, said, "This bridge round reflects the continued confidence of our existing investors in BiofuelCircle's long-term vision. Over the past few years, we have invested in building the infrastructure required to organise India's biomass supply chain at scale. With this foundation now in place, our focus is on leveraging this infrastructure to drive the next phase of growth. The capital raised through this round, along with additional working capital facilities, will enable us to accelerate biomass deliveries, create greater value for farmers, biomass suppliers and industrial consumers, and further strengthen India's clean energy ecosystem as we prepare for our next phase of growth."

India's push towards energy security, decarbonisation and circular economy models is creating significant momentum for sustainable biomass utilisation. As demand for biomass continues to grow across biofuels, industrial decarbonisation and clean energy applications, BiofuelCircle is well positioned to build the digital and physical infrastructure that powers this rapidly evolving ecosystem.

The latest bridge funding reinforces investor confidence in BiofuelCircle's vision of creating an organised, technology-enabled biomass supply chain that delivers economic value for farmers while enabling industries to transition towards cleaner and more sustainable energy solutions. The company is now preparing for its next phase of growth ahead of its planned Series B round.

About BiofuelCircle

BiofuelCircle is a digital platform dedicated to building sustainable biomass supply chains by connecting farmers, rural entrepreneurs, and bioenergy producers. Through its digital and participatory business model, BiofuelCircle promotes India's transition to renewable energy while fostering rural economic growth.

BiofuelCircle is committed to transforming India's biofuel supply chain and driving scalable, sustainable energy solutions nationwide. As a testament to this mission, BiofuelCircle has been ranked 8th on LinkedIn's 2024 list of India's Top Startups becoming the first biofuel company to receive this recognition.

For more information visit www.biofuelcircle.com