AM Green Group Acquires Stake in Greenko Energy Holdings from ORIX

AM Green BV (“AMG”) has signed definitive documents to acquire 17.5% equity stake in Greenko Energy Holdings (“Greenko”) from ORIX Corporation (“ORIX”), through its wholly owned subsidiary AM Green Power BV (“AMG Power”). AMG will own ~25% stake (along with AMG promoter’s current stake) in Greenko post-closing of this transaction in July 2025.

As part of this transaction, ORIX has also entered into an agreement to invest in a convertible note issued by AM Green (Luxembourg) S.à.r.l ("AMG Lux"), the parent company that holds all shares of AMG. This investment will provide ORIX long-term exposure to green hydrogen, ammonia, SAF and other next-gen molecules, aligning with its capital recycling strategy.

“This transaction is a key milestone in building one of the world’s fully integrated and scalable green energy platforms,” said Anil Chalamalasetty, Founder and CEO of AM Green. “We thank ORIX for their continued partnership and belief in our vision.”

ORIX stake acquisition strengthens AM Green’s upstream integration through Greenko, one of India’s leading renewable energy companies, operating over 10 GW of renewable and pumped storage assets. Greenko is on track to build the world’s largest “Intelligent Energy Storage Cloud Platform” with over 100 GWh of daily storage capacity by 2030.

Key highlights of the Acquisition

• 25% stake in Greenko, a platform with 10 GWs of operational renewables capacity and 100 GWh of daily storage capacity on track to be online by 2030;
• 5 MTPA of Green Ammonia and 1 MTPA of Green Hydrogen planned capacity with first 1 MTPA green ammonia project under construction;
• Late-stage development projects for low carbon caustic soda, SAF, ethanol and bio-based high value products (using its proprietary Chempolis tech).

Founded in 2023 by Greenko co-founders, Anil Chalamalasetty and Mahesh Kolli, AMG is one of the largest fully integrated Power-to-X (P2X) platform with access to end to end industrial decarbonization solutions including renewable power (solar, wind, hydro), long-duration storage (pumped hydro), most competitive round the clock carbon free power and green molecules (green hydrogen, green ammonia, low carbon caustic soda, ethanol, and sustainable aviation fuel.

AMG has plans to produce 5 million tonnes per annum (MTPA) of green ammonia, with the first 1 MTPA project under construction in Kakinada (in Andhra Pradesh, India). AMG has also signed green ammonia supply term sheets with several industrial and power companies in the OECD markets including Uniper SE, an energy company, and Yara Clean Ammonia, a trader and distributor of ammonia. AMG has also signed globally the largest power purchase agreements for supply of round the clock carbon free energy for its first 2 MTPA green ammonia projectsand has access to electrolyzers through its manufacturing JV with John Cockerill.

AMG is participating in the Indian green hydrogen supply tenders and is on track to capture sizable share due to its access to highly cost competitive green power, electrolyzers and a very experienced team. AMG is also in late-stage development to produce low carbon caustic soda, synthetic fuels such as methanol, high value chemicals as well as SAF (Sustainable Aviation Fuel) using biomass-derived raw materials, and to become a platform company that builds a value chain for next generation energy.

AM Green’s Kakinada industrial complex, currently under construction, will be the world’s first and largest integrated green industrial zone. It will house 2 MTPA of green ammonia production, 2 GW electrolyzer gigafactory and facilities for SAF and green chemical production.

In 2024, AMG acquired Chempolis, a Finland-based innovator in sustainable biomass processing, to support its Bio2X platform. Known for its low-emission, low-water, and zero-waste process, Chempolis technology offers a scalable solution for circular bioeconomy applications, aligning with AM Green’s commitment to decarbonization.

This technology enables AM Green to convert agricultural residues and other non-food biomass into high-value products such as cellulosic pulp (key input for textile industry), cellulosic ethanol (key input for sustainable aviation fuel (SAF), bio-based chemicals, and other biomaterials.

Greenko’s flagship 1.7 GW pumped storage project in Andhra Pradesh has already been commissioned with its next 2 pumped storage projects in Madhya Pradesh and Karnataka (2.5 GWs) are expected to be commissioned in 2026 and 2027 respectively.

In A Biggest Fundraise, Greenko Group Founders-owned AM Green Secures $1.75 Bn for One of the World's Largest Green Ammonia Platform

AM Green Ammonia Holdings (AMG Green), a company founded by Hyderabad based renewables group, Geenko, has secured $1.75 billion from Gentari, the clean energy division of Malaysia's Petronas, and Singapore’s GIC sovereign wealth fund, to develop one of world's largest green ammonia platform.

With investment of $1.60 billion, Petronas will secure a 30% stake in AM Green, valuing the newly formed company at $5 billion. The Greenko founders —Mahesh Kolli and Anil Kumar Chalamalasetty— will hold the remaining 70% along with Singaporean wealth fund GIC, which will invest $250 million.

This capital raise by AM Green is said to be one of the top five biggest capital raises in India in 2023 and among the world’s largest energy-transition deal.

According to a joint press release issued by Gentari and AM Green, the project aims to produce 5 million tonnes of green ammonia each year (MTPA) until 2030. This is equivalent to around 1 MTPA of green hydrogen and will account for 20% of India’s target for green hydrogen production by 2030 or 10% of Europe’s imported renewable hydrogen targets.

The green ammonia will be produced by a unit of AM Green — AM Green Ammonia Holdings. Post-investment from Gentari, GIC and AM Green, the unit will be a fully funded platform that will invest, in phases, in the Indian regions of Andhra Pradesh, Tamil Nadu, Gujarat, Karnataka, and Himachal Pradesh.

AM Green Ammonia will become one of the world’s leading producers of green ammonia.

AM Green will also produce green molecules such as green methanol, green caustic soda, green chlorine, bio fuels and various down stream high value green chemicals under its AM Green Molecules subsidiary.

Additionally, AM Green will also house a joint venture with John Cockerill of Belgium to manufacture electrolysers in its AM Green Technology & Solutions subsidiary; supplying about 6.5 GWs of electrolysers to AM Green Ammonia by 2030.

The first shipments of green ammonia will begin by late 2025 and will serve key OECD markets, including Germany, Japan, South Korea and Singapore.

Earlier in June, in Asia's largest equity round ever raised by any green energy company, Avaada Group had successfully closed $1.3 billion funding round bolstering its green hydrogen, green methanol, green ammonia, solar manufacturing and renewable power generation ventures.

iTIC Incubator at IIT Hyderabad and Greenko Group Launches New BUILD Program to Support Studentpreneurs across India

BUILD Program launch at Technology Innovation Park, IITH

• Supporting 75 students led innovations across India
• Financial aid up to INR 1 lakh per innovator
• Funding provided by Greenko
• Implemented in collaboration with 14 incubators across India
• 12-month program by iTIC Incubator at IIT Hyderabad
• Technology solutions to sustainability is the key focus

iTIC Incubator at IIT Hyderabad, in collaboration with Greenko Group, has launched a new program called Bold & Unique Ideas Leading to Development (BUILD) on the emblematic occasion of World Environment Day on June 05, 2023. The program was launched at IIT Hyderabad by Dr Anil Chalamalasetty, MD and CEO, Greenko Group and Prof B S Murty, Director, IIT Hyderabad, in the presence of Dr A S Kiran Kumar (former Chairman, ISRO), Faculty of IITH and Partner Incubators. The primary objective of BUILD is to support undergraduate students and recent graduates to give shape to their innovative ideas and eventually turn them into a startup.

Under this BUILD initiative, iTIC Incubator at IIT Hyderabad signed an MoU with 14 incubators pan India to promote the BUILD program and to scout, shortlist and support 75 innovators. i-TIC Incubator has launched a national call for applications on its website. Benefits to selected innovators include financial aid of up to INR 1 lakh, mentorship, prototyping support and co-working space. At the end of the 12-month program, innovators could get a chance for pre-incubation support and further grants at iTIC Incubator at IIT Hyderabad.

Innovators can apply from the iTIC website: https:itic.iith.ac.in/build, with the deadline being July 5, 2023.

Prof IITH (L) and Dr Anil (R) exchanging MoU on BUILD Program by iTIC IITH & Greenko Group

Announcing the program’s launch, Prof B S Murty, Director IITH, said, “BUILD scheme has been in place at IITH for its own students for the past 3 years. After building the Technology Innovation Park (TIP) with about 1.5 lakh sqft, we felt that it is time for us to extend the BUILD program to the whole nation. With Innovation as its DNA, IITH believes in developing job creators instead of job seekers. By supporting such innovators from their student days, the BUILD Scheme provides a suitable platform for these young innovators to convert their ideas into successful products, thus aiding our urge towards making India self-reliant (Atmanirbhar) and a global leader.

Conveying his best wishes for the success of the initiative, Dr Anil Chalamalasetty, MD and CEO, Greenko Group, added, “BUILD program represents a remarkable milestone in our collective journey towards creating a vibrant ecosystem that nurtures and amplifies the innovation and creative genius of our youth. The BUILD program is a testament to our unwavering belief in the power of ideas.’’

Dr A S Kiran Kumar, (former Chairman, ISRO) congratulated iTIC Incubator at IIT Hyderabad and Greenko Group for such a unique initiative and said, “BUILD program is like seeds of growth and initiatives like this are vital to support which will turn into branches and eventually trees.’’

About iTIC Incubator at IIT Hyderabad

iTIC is a Technology Business Incubator (TBI) under the aegis of the Indian Institute of Technology Hydwerabad (IITH) and supported by the Department of Science and Technology (DST), Government of India. iTIC is a Not-For-Profit Society that focuses on creating a supportive and nourishing environment for budding entrepreneurs in the field of technology. The focus areas of iTIC incubator are Deep tech sectors such as Healthcare, AI/ML, Quantum Computing, AR/VR, Cybersecurity, Robotics, IOT, Industry 4.0, Blockchain, Electronics, Advanced materials, Drones, Biotechnology, etc.

iTIC aims to help entrepreneurs leverage a premier quality research and startup ecosystem with the goal of building a comprehensive platform to practice innovation and entrepreneurship so that these entrepreneurial ideas can be turned into sustainable, scalable profit-making business ventures. iTIC provides support to startups such as Mentoring, Financial Aid, IP Support, Networking, and access to Dedicated office/ Coworking space, Software, IITH Technological Infrastructure, and Makerlab. Since its inception in 2015, iTIC has supported 130+ startups through Pre-incubation, Incubation, and Acceleration programs and has sanctioned more than INR 8 crores to startups directly while supporting the startups in raising more than INR 50 crores from external sources. So far, the iTIC startups have generated more than INR 1200 crores of revenues and created 1000+ jobs.

About IIT Hyderabad:

Indian Institute of Technology Hyderabad (IITH) is one of the eight IITs established by the Government of India in 2008. In a short span of 15 years, the institute has become a one of the top ranked institutions in the country and has received global recognition. It has 300+ full-time faculty, ~4,200 students, 18 Departments + 1 Centre for Interdisciplinary Programs, nearly 500+ state-of-the-art Research Facilities, and five research and entrepreneurship centres. The institute has a strong research focus with approx. Rs ~880 crores of sanctioned research funding, with PG+PhD students accounting for about 60% of total student strength. IITH has more than 8100+ research publications with 1,30,000+ Citations, 190+ Published Patents, 2,200+ sponsored/consultancy projects with 500+ running projects, and about 125+ startups that have generated 1000+ jobs and a revenue of Rs. 800+ Cr. Follow us on Instagram, LinkedIn, Twitter, Facebook, Koo and YouTube for the latest updates. To know more, please visit https://www.iith.ac.in/.

Renewable Energy Co Greenko Named Title Sponsor of the Formula E 2023 Greenko Hyderabad E-Prix

• First-ever ABB FIA Formula E World Championship race in India will be sponsored by Greenko, one of the world’s leading energy transition and decarbonisation solutions companies
• 2023 Greenko Hyderabad E-Prix takes place on Saturday 11 February and features the all-new GEN3 – the fastest, lightest, most powerful and efficient electric race car ever built
• 22 drivers from 11 teams including Mahindra Racing, Jaguar TCS Racing, TAG Heuer Porsche Formula E Team, NEOM McLaren Formula E Team and Maserati MSG Racing will be competing on the 2.83 km street circuit in Hyderabad
• Tickets for the event are available now on BookMyShow

Formula E and Ace Nxt Gen, the promoter of the first ABB FIA Formula E World Championship race in India, today announced that Greenko will be the title partner of the 2023 Greenko Hyderabad E-Prix. Tickets are on sale now on BookMyShow.

Greenko Group was founded in 2006 and is one of the world’s leading energy transition and decarbonization company. As an industry leader the company is building, owning and operating high-quality renewable energy assets replacing fossil fuels with integrated decarbonized energy.

As the title partner of the historic first FIA-sanctioned electric world championship motorsport race in India, Greenko is leading the way towards a decarbonized and sustainable future. Greenko’s core values align with the mission of the ABB FIA Formula E World Championship of accelerating towards a clean energy future.

Greenko will fully power the event with renewable energy, in line with Formula E’s net zero carbon strategy and RE100 commitment to achieve 100% renewable energy for the championship,

Fans attending the 2023 Greenko Hyderabad E-Prix will see home favourites Mahindra Racing and Jaguar TCS Racing compete against two iconic motorsport names – NEOM McLaren Formula E and Maserati MSG Racing – who join the Formula E grid for the first time from this season.

The 11 teams and 22 drivers will be competing in the all-new GEN3 race car. The GEN3 is a huge leap in technological development and innovation with engineers at the FIA and Formula E pushing the boundaries of EV development.

Capable of a 200mph (322kph) top speed, the GEN3 is 53kg lighter than the GEN2 with a smaller chassis optimised for street racing. An additional front powertrain adds 250kW to the 350kW at the rear, more than doubling the regenerative capacity of the previous GEN2 car to 600kW, with more than 40% of the energy used in-race regenerated under braking.

Anil Chalamalasetty, Founder of Greenko Group and Ace Group, said: "We are delighted to be partnering with an iconic race, India's first ever Formula E World Championship in association with the Govt of Telangana and FIA, with support from the Govt of India. We are committed to combat climate change and lead the way for global decarbonization. Greenko will be powering the entire 2023 Greenko Hyderabad E-Prix event with renewable energy, making it first of its kind Net Zero event in the world on this scale. I am excited that one of the world's greenest cities will host the greenest race, under the dynamic leadership of Hon'ble Minister K T Rama Rao. We look forward to witness history in the making, as India drives towards a sustainable future on 11 February 2023 on the streets of Hyderabad.``

Alberto Longo, Co-Founder & Chief Championship Officer, Formula E, said: “We welcome Greenko as sponsor of this historic first Formula E race in India. The 2023 Greenko Hyderabad E-Prix promises to be a milestone event for motorsport fans across India, and for fans tuning in around the world. Greenko will have a global platform to showcase their sustainability credentials as Hyderabad joins iconic world cities such as London, Berlin, Diriyah, Mexico City, Rome and Monaco in hosting the pinnacle of electric motor racing.”

As the world’s first all-electric FIA World Championship and the only sport certified net zero carbon since inception, the ABB FIA Formula E World Championship brings dramatic racing to the heart of some of the world’s most iconic cities providing an elite motorsport platform for the world’s leading automotive manufacturers to accelerate electric vehicle innovation.

The Formula E network of teams, manufacturers, partners, broadcasters, and host cities are united by a passion for the sport and belief in its potential to accelerate sustainable human progress and create a better future for people and the planet.

Greenko, is one of the world’s leading Energy Transition and Decarbonization solutions company, with an installed Renewable Energy capacity of ~7.5 GW with presence in 15 states in India. Projects of 50 GWh of storage are planned by 2025 and additionally, another 50 GWh of storage are planned in the subsequent years taking total storage capacity to 100 GWh. To enable deeper decarbonization Greenko is foraying into the green molecule sector. The group is committed towards transforming renewable energy from intermittent and inflexible energy to firm, dispatchable and on-demand energy controlled through digitization and long duration storage solutions to support the economy-wide shift towards a carbon-neutral energy mix in the country.

Renewable Energy Firm Greenko Raises $495 Mn from GIC and Abu Dhabi Investment Authority

Hyderabad, Andhra Pradesh-based renewable energy company Greenko Energy Holdings on Tuesday announced that it has raised $495 million in a fresh round of equity based funding from an affiliate of GIC, a government of Singapore-owned investment fund, and Abu Dhabi Investment Authority (ADIA).

The $495 million raised will be invested in 2.4 giga watt (GW) of storage capacity. Post the investment, GIC will continue to remain as the majority shareholder of Greenko.

“Greenko Energy Holdings today announced the signing of definitive agreements for a primary equity raising of US$ 495 million from an affiliate of GIC and an entity that is ultimately wholly-owned by the ADIA,” the company said in a statement.

The development comes at time when Renew Power, an another India-based renewable energy IPP (Independent Power Producer), is reportedly considering raising funds through asset sales, after dropping out its plan for an initial public offering (IPO).

So far, Greenko has now secured equity commitment for two storage projects with total capacity of 2.4 GW, which includes 1.2 GW in Pinnapuram and 1.2 GW in Saundatti. The company expects these projects to become operational in 2022.

In March 2017, the company had raised $155 million (Rs 1,010 crore) from GIC and ADIA, which was one of the largest fund-raising exercises in the renewable energy sector at that time.

Currently, Greenko has an operational capacity of 4.2 GW in the country and another 7 GW is under construction. The company is planning to increase its capacity further through development of greenfield assets.

“These( storage) projects will have overall capital outlay of $2 billion. Greenko has also secured financial closure for the Pinnapuram Storage Project and are in advanced discussions for the Saundatti Project,” Greenko further added in its statement.

Founded in 2004, by Anil Chalamalasetty, Greenko group is listed on the London Stock Exchange's Alternative Investment Market (AIM) and has its asset base in India.

The group has also acquired two renewable energy companies so far and these are -- New Delhi based Orange Renewable, which Greenko acquired for $1 billion, in June last year, and Hyderabad-based Pennar Industries Ltd in August 2017 for an undisclosed amount.

Here're 10 Top Funded Indian Startups of 2017 (Year-To-date)

We are halfway to 2017, and buzz of funding slowdown, startup shutdown, lack of innovation etc has already caught its pace. There are talks of startup bubble bursting down, but there are still some insist that the startup bubble has not burst yet. Though investors have become cautious and backed sectors that are problem-solving at a macro level, and not blindly following the e-commerce or hyperlocal buzz, India has still managed to get some of the most funded startups. 

Here is the list of most funded startup of 2017, year-to-date:

Flipkart

$1.4 Billion

In the scenario where Indian e-commerce is facing a tough time, homegrown major, Flipkart has taken over the rein of the market by becoming the third most funded private company in the world. Flipkart, an online shopping destination for India founded in 2007 by Sachin Bansal and Binny Bansal recently bagged $ 2.4 billion from Japanese technology and telecom giant SoftBank, making it most funded startup in India.

Flipkart’s total raised capital is now almost $7.12 billion which is higher than that raised by global giants like online house rental aggregator Airbnb ($3.3 billion) and mobile phone maker Xiaomi ($1.4 billion). If we talk about the valuation, Flipkart stands at the 9 position with about $15 billion. Prior to this in April 2017, Flipkart secured a $1.4 billion at a valuation of $11.6 billion. Flipkart managed to secure this investment at a post-money valuation of $11.6 billion from the likes of Tencent, eBay, and Microsoft. This fundraising round also witnessed participation from existing Flipkart investor, Tiger Global, Naspers, Accel and DST Global.

Before this round, the Bengaluru-based firm had last raised funds in June 2015 when existing investors led by Tiger Global Management pumped $700 million into the company, valuing it at $15 billion. By August 2015, after raising $700 million, Flipkart had already raised a total of $3 billion, over 12 rounds and 16 investors.

PayTM

$1.4 Billion

Vijay Shekhar Sharma founded PayTM has become the buzzword. It is one such company which has secured the largest funding round from a single investor. The Indian technology startup, PayTM has recently raised $1.4 billion from Japan’s SoftBank Group.

The Japanese internet and telecom major, Softbank has invested in PayTM's parent company One97 Communications, helping Noida headquartered startup to expand its user base of 220 million and build a large offering of financial services products. Post this funding One97 now valued at $7 billion.

Ola

$404 Billion

Despite bleeding losses, high employee cost, the cab-hailing firm Ola has been successful in raising a sizeable amount of funds. The startup has recently raised over Rs231 crore from Tekne Private Ventures through an issue of preference shares, reports Live Mint.  In June 2017, Ola had raised about $50 million (Rs 322 crore) from New York-based hedge fund Tekne Capital Management LLC, as part of the company’s ongoing funding round. Prior to this cab hailing app raised Rs 670 crore in a fresh round of funding from Ratan Tata’s venture fund RNT Capital Advisers LLP and US hedge fund Falcon Edge Capital LP.

Founded by Bhavish Aggarwal and Ankit Bhati in 2010, Ola is backed by marquee investors including SoftBank, Tiger Global and Matrix Partners. Since November 2016, Ola has raised nearly $400 million. Ola, which has a presence in over 100 Indian cities as against Uber’s operations in 29, has been aggressively ramping up its portfolio of services.

ReNew Power Ventures

$202 Million

Wind energy firm based in India, ReNew Power has recently raised around $100 million in structured credit from Piramal Capital’s structured financing group (SFG) to raise his stake in the company ahead of a proposed initial public offering (IPO), reports Live Mint.

The firm founded by Sumant Sinha is one of the largest renewable energy producers in the country has around 1.2GW of operational capacity across the wind and solar projects.

In February 2017, ReNew raised $200 million where JERA Co. Inc. bought a 10% stake in the company, valuing it at $2 billion. ReNew Power’s earlier backers include Goldman Sachs, sovereign wealth fund Abu Dhabi Investment Authority (ADIA) and Global Environment Fund.

ReNew Power’s recent debt financing transactions include a long-term $390 million debt funding from ADB, a $250 million credit line from Overseas Private Investment Corp. It also raised $475 million through masala bonds earlier this year.

In October 2015, the company raised $265 million in equity capital from Abu Dhabi Investment Authority, Goldman Sachs and Global Environment Fund. The round took the company’s total equity fundraising to $655 million. Goldman has invested a total of $370 million in the company.

Paytm Mall

$200 Million

After PayTM, India get gets the another unicorn in form of its e-commerce arm. Yes, PayTM e-commerce arm secured funding from Paytm’s existing investors Alibaba and SAIF Partners who have put in $177 million and $23 million respectively into Paytm Mall. Paytm has now become the only company with both payments and e-commerce businesses to be valued at billion dollars as separate entities.

Paytm Mall, owned by Paytm Ecommerce Pvt Ltd, is on a mission to become the technology partner of retailers and brands, enabling them to set up stores online.Paytm Mall is scaling its partner network by adding 3,000 agents to its existing workforce as it goes deeper into tier II and tier III cities, digitizing

Paytm Mall is scaling its partner network by adding 3,000 agents to its existing workforce as it goes deeper into tier II and tier III cities, digitizing catalogues of neighborhood shopkeepers and brands authorized stores. It will continue equipping these shopkeepers with technology by digitizing their catalogues, opening their store on its mall and making their shops QR Code-enabled. It has also extended logistics support and GST training to equip these retailers for the current business landscape. The company would also facilitate access to working capital loans, a major pain-point for every small retailer and play a critical role in their growth plans. These factors will contribute to enhancing their income and eventually lead to creating new jobs for our nation’s progress.

Greenko Group

$155 Million

Greenko Group is one of India's fastest growing Independent power producers, focusing on developing clean energy assets in India to meet India's ever increasing demand for power. In March 2017, the firm raised $155 million (Rs 1,010 crore) from existing investors Singapore’s sovereign wealth fund GIC and Abu Dhabi Investment Authority (ADIA) is one of the largest fund-raising exercises in the renewable energy sector.

According to ET, Hyderabad-based Greenko last year got $230 million in new funds from an entity owned by ADIA and an affiliate of GIC Singapore at a $1 billion valuation. ADIA invested $150 million while $80 million came from GIC.

Delhivery

$138 Million

Gurgaon-based logistics company SSN Logistics Pvt Ltd, which runs the web platform Delhivery.com has managed to make its place in the list of most funded Indian startups. In May 2017, Delhivery has received $30 million (about Rs200 crore) funding from Chinese conglomerate Fosun International. According to the LiveMint report, This additional investment was a part of the bigger equity financing round where The Carlyle Group infused $100 million to pick up a minority stake in the firm.

Founded in 2011 by Sahil Barua, Mohit Tandon, and Suraj Saharan, the startup raised $85 million in a series D round led by Tiger Global Management with participation from existing investors—Multiples Alternate Asset Management, Nexus Venture Partners, and Times Internet Limited in March 2015. Prior to that, in September 2014, it had raised its series C round led by Multiples Alternate Asset Management.

Hero Future Energies

$125 Million

The renewable energy arm of the Hero Group, Hero Future Energies raised $125 billion from International Finance Corp. (IFC), the private sector investment arm of World Bank. Founded in 2012, HFE is poised to provide clean power to industries, businesses, educational institutes, non-profits and governmental organizations at competitive rates. HFE assist its clientele in fulfilling their Renewable Purchase Obligations (RPOs) by reducing their dependence on power generated by fossil fuels like coal, oil and natural gas.

Spandana Sphoorty Financial Limited

$100 Million

According to LiveMint, microfinance lender Spandana Sphoorty Financial Ltdin April 2017, raised $270 million of funding. Around $100 million comes in the form of equity capital from a Kedaara Capital-led consortium including Ontario Teachers’ Pension Plan, and the rest in the form of debt capital from IndusInd Bank Ltd, Yes Bank Ltd and ICICI Bank Ltd.

Spandana Sphoorty is a Micro Finance firm headquartered at Hyderabad. It has presence pan India and has an employee base of 3500+ professionals. The company came into existence with a noble thought of upgrading the economic and social life of rural women, started by a woman for the women.

Swiggy

$80 Million

Indian food ordering and delivery platform, Swiggy raised $80 million in series-E funding in May 2017. The deal was led by Naspers, a global internet and entertainment group, and one of the world’s largest technology investors, with earlier investors Accel India, SAIF Partners India, Bessemer Venture Partners, Harmony Partners and Norwest Venture Partners participating.

Swiggy is among the best-funded food delivery startups in India. It raised at about $155 million in equity from Accel Partners, Bessemer Venture Partners, Harmony Partners, RB Investments, Norwest Venture Partners, SAIF Partners and Apoletto, the personal investment firm of Russian billionaire and founder of DST Global, Yuri Milner. It has also raised about $8 million in venture debt from InnoVen Capital.

Swiggy has been a forerunner in online food ordering and delivery in India, by consistently shrinking delivery times and improving customer experience.