The young generational founders of India are quietly designing solutions for the climate problem. Just 800 of the 2,600 climate tech companies that were registered are still in operation. But the survivors are transforming the trajectory of the nation's move towards net-zero by 2070.
They are linking India's conventional agricultural wisdom with technology using satellite-driven crop analytics and IoT sensors on the village level. Armed with algorithms, aspiration, and an urgent environmental mandate, this tiny army of engineers holds out hope as the world's most populous nation is lashed by extreme weather.
The rise in green investments that tackle climate change and advance sustainability is a significant plus for climate tech venture capitalists. According to FSG, investments in climate technology in India increased by 29% between 2019 and 2022, reaching a record-breaking investment of over US$5 billion in 2022.
The rise in investments not only indicates that there is a chance for investors to get a solid return, but it also shows that there is a plethora of creative ideas from Indian innovators to deal with the many issues that lie ahead.
Let's get into some of the few Indian startups with a climate focus that have the support of prominent venture capitalists.
1. Clean Electric
Founded in 2016 by Akash Gupta, Abhinav Roy, and Ankit Joshi, Clean Electric is a Pune-based climate tech startup that is revolutionizing the electric vehicle (EV) and renewable energy industries with its cutting-edge rechargeable zinc-carbon batteries.
The adoption of EVs and the powering of microgrids for renewable energy storage are supported by these high-power-density batteries, which provide an affordable and sustainable substitute for conventional lithium-ion systems.
Clean Electric is making cleaner city transportation a reality and reducing the reliance on fossil fuels by solving battery efficiency and scalability.
Clean Electric has raised a total of at least $8.2 million across its known funding rounds: a seed round of $2.2 million in 2022 and a Series A round of $6 million on August 23, 2024. Info Edge and pi Ventures led the 11 investors in its most recent round.
2. Clean Max
CleanMax is a Mumbai-based Indian climate technology firm that enables businesses to adopt sustainability through rooftop solar and wind power projects.
The startup can significantly reduce the carbon footprint without having to make a one-time, upfront capital investment due to CleanMax's renewable energy through long-term power purchase agreements.
The innovation strategy of the startup supports the transition to clean energy, allowing companies to adopt clean energy and assist India in achieving its 2070 net-zero target.
CleanMax has 2 GW of renewable energy capacity and will reach over 4 GW within three years. This cancels out 2 million tons of CO2 every year and has over 350 corporate customers.
CleanMax's impact on India's rapidly growing industrial economy is in its ability to decarbonise corporate activities, making way for a greener economy and fostering environmental stewardship and energy security.
3. Solinas
To address water leakage problems and eradicate manual scavenging, Solinas, a deep-tech IIT Madras venture, designs robotic solutions for the sanitation and pipeline industries.
The core solutions of Solinas, including robot septic tank cleaning and short- and long-range pipeline inspection, are designed to address the Indian challenges.
Through the automation of such processes, Solinas enhances water management, reduces worker health risk, and enhances efficiency, all contributing to sustainable urban development.
The company is involved in end-to-end sanitation asset management, including artificial intelligence-powered robotic pipeline cleaning and inspection systems and is now scaling its technology across Indian cities. In alignment with India's Swachh Bharat initiative and climate resilience goals, Solinas' affordable robotics solves critical sanitation problems.
4. Carbon Mint India
CarbonMint India's blockchain-based food labeling system is revolutionizing sustainable farming. The startup increases transparency of farm practices by incorporating QR-tagged tracking systems, enabling consumers to trace vegetable origins and confirm environmentally friendly practices.
This supports climate-conscious decisions and credibility, which is consistent with India's drive to make food systems sustainable. With the technology of CarbonMint India, farmers can implement more environmentally friendly methods while also addressing consumers' increasing demand for transparency.
The startup's goal of scaling in India's agricultural sector was fueled in 2023 when it received undisclosed seed funding from Unicorn India Ventures.
CarbonMint addresses key environmental concerns by combining technology and farming, reducing the carbon footprint of food production, and helping India meet its net-zero targets.
With 1,000+ deployments and operations in over 150 cities, it has generated $650,000 in 2023 and now has a $1 million order pipeline.
Its innovative approach not only increases consumer confidence but also encourages green farming, thus making CarbonMint a strong player in India's climate tech landscape and helping create a greener and more responsible farming future.
5. Ace Green Recycling
The mission of Ace Green Recycling, a climate tech company in India, is to revolutionize lead-acid and lithium-ion battery recycling technologies. It aims to minimize environmental damage, ensure sustainability, and manage the increasing issue of battery waste by environmentally friendly means.
The company successfully raised over $7 million in a funding round in February 2022. This investment proves the belief in the mission of Ace Green Recycling and the ability of the company to transform the recycling industry.
The startup's activities are based on a crucial facility within the New Delhi National Capital Region. The startup aims to meet the world's need for resource recovery and eco-friendly battery disposal through expansion abroad.
Ace Green Recycling is working on India's increasing commitment to green solutions and is poised to make a lasting impact on the global climate tech sector with its innovative and scalable approach.
Edited by Harshajit Sarmah
