4 Indian NGOs Selected Among 14 for Grants from Google.org Supported Sustainability Fund

Four Indian Non-profit organizations (NGOs) have been selected by a Google-backed fund for their AI-driven climate solutions. These organizations are part of the APAC Sustainability Seed Fund 2.0, which is supported by a $5 million grant from Google.org, the philanthropic arm of Google. 

The selected organizations are:

1. INREM Foundation: Developing AI-enabled open digital solutions for community access to water contamination data.

2. CEPT Research and Development Foundation (CRDF): Using machine learning and satellite imagery to protect lakes and their carbon sink function.

3. Institute for Financial Management and Research (WELL Labs): Creating advanced models for village-level water security insights.

4. Gujarat Mahila Housing Sewa Trust (MHT): Developing an AI-powered model to identify urban heat islands and suggest community-centric solutions.

This initiative aims to foster technology- and AI-driven solutions to address critical environmental and social challenges.

The APAC Sustainability Seed Fund is a significant initiative aimed at addressing climate change and promoting sustainability in the Asia-Pacific region.

Initiated by Asian Venture Philanthropy Network (AVPN) and supported by Google.org and the Asian Development Bank (ADB), The APAC Sustainability Seed Fund 2.0's current fund amount is $5 million i.e. for the second round (Seed Fund 2.0).

The fund aims to support innovative, technology-driven solutions that tackle pressing climate and sustainability challenges. It focuses on Renewable energy and decarbonization, Climate adaptation, Waste management and circular economy, Air quality, Water preservation, and Biodiversity protection.

The fund aims to help vulnerable and underserved communities in the Asia-Pacific region adapt to and mitigate the effects of climate change.

NABARD Chairman Launches NABSAMRUDDHI’s Climate Ready WASH Funding Programme

Shri Shaji K.V, Chairman, NABARD unveiling NABSAMRUDDHI’s Climate Ready WASH Funding Programme

Shri Shaji K.V., Chairman, NABARD launched Nabsamruddhi’s Climate-Ready WASH Funding Program at the Sa-Dhan National conference on Inclusive Growth in Delhi on 08 November 2023. The other dignitaries to grace the occasion were Shri Ravi Krishan Takkar, Chairman, NABSAMRUDDHI, Shri Jiji Mammen, ED & CEO, Sa-dhan and Shri Manoj Gulati, Regional Director, South Asia, Water.org.

Smt. Bonani Roychoudhury, Managing Director of Nabsamruddhi highlighted the role played by the company in championing WASH financing especially over the last 2 years, having disbursed over INR 250 Cr of WASH loans through 25 impact focused Financial Institutions, boosted by Special Concessional refinance from NABARD and technical support from Sa-dhan, Water.org among other stakeholders. Recognising the adverse impact of climate change on WASH, Nabsamruddhi has now realised the need to narrow its focus down to Climate Ready WASH lending. Based on insights generated through interactions with different stakeholders, the programme was launched through 3 MFI partners on a pilot mode, to finance climate proof WASH in climate vulnerable areas in Bihar and Rajasthan.

The dignitaries were felicitated with a signed note of appreciation from Shri Rajendra Singh, “Waterman of India” for their commitment towards advancing sustainable water initiatives.

 (From Left to Right) – Chairman, NABARD along with respective dignitaries releasing  NABSAMRUDDHI’s brochures. Shri Manoj Gulati( Regional Director, South Asia, Water.org), Shri Jiji Mammen(ED & CEO, Sa-Dhan), Shri Shaji K.V (Chairman, NABARD), Smt. Bonani Roychoudhury (Managing Director, Nabsamruddhi) and Shri Ravi Krishan Takkar (Chairman, NABSAMRUDDHI) 

NABSAMRUDDHI:

NABSAMRUDDHI Finance Limited was incorporated under Companies Act, 1956 on 17 February 1997 under the name of Agri Business Finance Limited and registered as Non-Banking Financial Company with the Reserve Bank of India. It was promoted with equity participation from National Bank for Agriculture and Rural Development (NABARD), Union Bank of India (erstwhile Andhra Bank), Canara Bank, Government of Andhra Pradesh, Government of Telangana, Andhra Pradesh State Cooperative Bank, Telangana State Cooperative Apex Bank and a few Industrial Houses / individuals from the State. The objective of NABSAMRUDDHI is to provide credit facilities to legal entities for promotion, expansion, commercialization and modernization in non-farm activities including microfinance, MSME, housing, education, transport, etc.

Avaana Climate and Sustainability Fund Secures Ist Close of $70 Mn for India's 1st Early Stage Climate-focused Fund; SIDBI, SRI Fund, UKIDCF, among others Participate

Avaana Climate & Sustainability Fund will invest in technology-led global climate solutions built from India

Avaana Capital, India's leading climate-focused venture capital firm, has achieved a significant milestone in India's emerging climate-tech ecosystem by securing commitments of USD 70 million for their first close in Avaana Climate and Sustainability Fund. The firm is targeting a total corpus of $100-125 million for the fund, which will focus investments in three sectors that are responsible for 90% of India's emissions: Energy Transition & Resource Management; Mobility & Supply Chains and; Sustainable Agriculture & Food Systems. Since its launch the fund has garnered strong interest from global and domestic Limited Partners (LPs). It has attracted renowned institutional investors, including Small Industries Development Bank of India (SIDBI), Self Reliant India (SRI) Fund, the UK India Development Cooperation Fund (UKIDCF) and marquee corporates such as Godrej Group, Murugappa, Torrent, Tsadik, and Bellerive Capital, among others.

Left to Right- Anjali Bansal, Swapna Gupta & Shruti Srivastava

Led by industry veterans Anjali Bansal, Swapna Gupta, and Shruti Srivastava, Avaana Climate and Sustainability Fund will further invest in tech-driven and innovative climate solutions, looking to solve climate risk mitigation, adaptation and resilience building. Avaana Capital has made notable portfolio investments such as Eeki Foods, Aerem, Kazam, sentra.world, FarMart, Eggoz, Ninety One 91, Turno and Terra.do.

“With significant global capital flowing, supportive policies, corporate interest and wealth of entrepreneurial talent in the climate sector, India's climate-tech story is rapidly progressing. At Avaana Climate and Sustainability Fund, we evaluate over 200 new climate opportunities every quarter,” said Anjali Bansal, Founding Partner, Avaana Capital.

“At Avaana Capital, we recognize that India is integral to global climate solutions and invest in climate solutions for India and the world. Our technology and innovation-first approach, deep sector expertise, and strong relationships across the ecosystem help us build large-scale outcomes in climate and sustainability. Avaana invests in thematic areas of Energy and Resource Management, Mobility and Supply Chains and Sustainable Agriculture and Food Systems,” said Swapna Gupta, Partner, Avaana Capital.

"India, with its responsibility to uplift the standards of living for over 400 million citizens, requires swift acceàleration in the adaptation and adoption of technology for climate action. Avaana is the leader in climate tech and the crucial mission of mitigating climate risk. SIDBI is delighted to support Avaana's remarkable progress and applauds their efforts in taking the pole position in this vital endeavour,” said Shri S Ramann, Chairman & Managing Director, SIDBI.

Christina Scott, Acting British High Commissioner to India, said, “The UK is proud to support development partnerships and investments that are helping to address some of the biggest global challenges. I am pleased our new investment in the Avaana Fund will support innovative businesses develop solutions to climate change and inclusion.”

Suresh Kohzikote, from Self Reliant India (SRI) Fund, shared, "The SRI Fund's investment objective is to support onward growth capital to boost the economy and create a self-reliant India. Our partnership with Avaana Climate and Sustainability Fund — India's first tech-led climate fund — is to realise those objectives through climate solutions from India.”

As the world's second-largest population and sixth-largest economy, India plays a critical role in global climate solutions. Our transition to sustainability must prioritise people, planet, and profits. Technology-led disruption in sectors like energy, resources, mobility, supply chains, agriculture, and food systems holds immense potential. Climate-tech investments in India have surged, attracting $1.2 billion from 2016 to 2020, with a focus on renewable energy and electric mobility. To achieve India's net-zero emissions goal by 2070, approximately $2.5 trillion in investments is needed by 2030. Avaana Capital's Climate and Sustainability Fund aims to mobilise capital and support innovative climate solutions aligned with India's targets.

About Avaana Capital

Avaana Capital is an early-stage climate-tech investor in India. Avaana Climate and Sustainability Fund invests in future market leaders who are leveraging technology-led innovation to build and scale solutions for climate and sustainability while delivering exponential returns. Avaana invests in thematic areas of Energy and Resource Management, Mobility and Supply Chains and Sustainable Agriculture and Food Systems. Avaana integrates four ecosystems that drive successful outcomes for climate solutions and sustainability: Digital Innovation, Industry Linkages, Policy and Research, and Catalytic Capital.

Avaana’s Team has previously made investments in unicorns and category-leaders like Nykaa, Urban Company, Darwinbox, Delhivery, NinjaCart etc. Investments from Avaana include the likes of FarMart, Ninety One, Eeki Foods, Eggoz, Turno, Terra.do, Aerem, Kazam, sentra.world etc. The Company has offices in Mumbai and Bangalore.