The investment will fuel SafEarth's product development initiatives and support its expansion.
Gruhas ASPIRE Accelerator Program Plays Vital Role in SafEarth's Growth and Market Reach
SafEarth, India's largest technology platform for adoption of renewable energy has today announced the successful completion of its recent funding round of ₹ 3.5 Crore. The funding was led by Anthill Ventures, Third Derivative and Mumbai Angels. This investment will fuel SafEarth's product development initiatives and support its expansion into new industrial belts across the country.
SafEarth has distinguished itself by helping industries reduce their carbon emissions by shifting from thermal power to solar energy at scale. With over 100 completed industrial solar projects and a deployed capacity of 171MW, SafEarth has enabled the saving of over 300,000 tonnes of carbon emissions. Collaborating with renowned companies like Toyota Technopark, Everest Industries, Ather Energy, and Mondelez India, SafEarth has facilitated extraordinary savings of Rs 50 crore above industry averages during the transition to solar energy. Moreover, the platform has generated business worth over Rs 800 crores for solar installers.
SafEarth's marketplace streamlines clean energy procurement process for industries, reducing time by 50%, cost by 10%, and errors to zero, resulting in over 20% increased project returns. Then, their project management automation tool, Solar Flow, ensures efficient implementation and quality assurance. Furthermore, Solar Flow monitors electricity consumption in real-time, offering recommendations for reducing costs and achieving sustainable long-term savings. SafEarth's capabilities empower industries to embrace solar energy and drive environmental sustainability.
The company offers a comprehensive suite of products powered by their advanced tech stack. The platform uses data driven insights to map out an industry’s electricity consumption and design the perfect solar plant to optimise its energy usage. SafEarth then implements these projects through a network of pre-screened execution partners. Their Solar Flow tool ensures flawless execution of projects, resulting in a 0% failure rate and helping them exceed generation guarantees. SafEarth then monitors their client’s energy consumption in real time to enable continuous optimization, empowering businesses to achieve significant energy savings, reduce carbon emissions, and contribute to a sustainable future. SafEarth's innovative tech stack drives impactful solutions for a cleaner environment.
Harshit Poddar, Co-Founder, SafEarth emphasized the importance of their platform's effectiveness, which played a significant role in attracting investors. He stated, "Through our advanced tech stack and comprehensive suite of products, SafEarth is driving the transition to sustainable energy sources and helping industries reduce their carbon emissions at scale. The recent funding round not only validates our mission but also empowers us to accelerate product development and expand our reach to new industrial belts across India. Together, we can build a cleaner and more sustainable future."
Gruhas ASPIRE, a leading proptech accelerator led by Gruhas Fund, DLF Family Office, and Anthill Ventures have played a crucial role in SafEarth's journey. Through the accelerator program, SafEarth was able to access valuable resources, mentorship, and industry connections, accelerating its growth and market reach.
Sailesh Sigatapu, Partner, Anthill Ventures expressed his satisfaction with SafEarth's progress, stating, "We are delighted to congratulate SafEarth on their exceptional journey and to witness their tremendous growth and impact. SafEarth's selection as our first cohort of Gruhas ASPIRE program underscores the significance of our accelerator program in nurturing and supporting ground breaking startups. We are excited to witness SafEarth's continued success and are confident that their achievements will inspire and motivate future cohorts in the Gruhas ASPIRE program to create meaningful and sustainable change in the proptech landscape."
Nandini Mansinghka, CEO, Mumbai Angels said “With this funding round, SafEarth moves one step further into cementing its place as India’s largest tech platform for solar power adoption. We congratulate the dynamic team at SafEarth and hope that they continue the good work of helping industries to optimize energy consumption and transition to clean, renewable power.”
The recent funding round will propel SafEarth's product development and expand its reach among industries, accelerating their transition to sustainable energy sources. With its integrated platform for solar projects covering engineering, procurement, execution, and financing support, SafEarth has already gained a significant market share, securing 6.67% in the C&I Rooftop Solar space and 5% in India's overall distributed solar market. SafEarth's mid-term goal is to facilitate the reduction of one million tonnes of annual carbon emissions through over 1GW of solar projects in the next two years. This funding will play a crucial role in achieving this milestone and empowering industries to reduce one billion tonnes of CO2 equivalent by 2030.
Earlier in last week, New Delhi-based renewable energy transition platform Amp Energy India has secured up to $250 million (about ₹2,061 crore) from SMBC Bank of Japan (Sumitomo Mitsui Banking Corporation), ICG (Intermediate Capital Group), and AIIB (Asian Infrastructure Investment Bank).
About SafEarth
SafEarth is India's largest technology platform for adoption of solar power. The SafEarth platform brings together all stakeholder of the industry including buyers, system installers, solar component manufacturers and project financiers on one platform and ensures that they are able to deploy quality solar plants swiftly and profitably. By empowering industries to transition to renewable energy, SafEarth aims to reduce carbon emissions on a global scale while assisting solar installers in growing their businesses and decarbonizing the energy footprint.
About Anthill Ventures
Anthill Ventures is a global speed-scaling ecosystem that invests in early-stage companies. Their portfolio includes startups from a variety of industries, including proptech, healthtech, and media and entertainment. Anthill Ventures provides mentorship, access to global markets, and strategic partnerships to help startups scale rapidly.
About Mumbai Angels
Mumbai Angels, India’s premier platform for private investment that is now a part of 360 ONE (earlier known as IIFL Wealth & Asset Management), one of the leading wealth and alternates-focused asset firms in India, holds an AUM of USD 130 Mn and a 200+ strong portfolio spanning a wide range of sectors, such as Technology, Consumer, Life Sciences, DefenseTech, SpaceTech, EV, AgriTech, FinTech, EdTech, Gaming, and Content, etc. Of the overall portfolio, the platform has exited/secured the next round of funding for 100+ of them. The platform has 750+ investors spread across 70+ Global and Indian cities.
About SafEarth
SafEarth is India's largest technology platform for adoption of solar power. The SafEarth platform brings together all stakeholder of the industry including buyers, system installers, solar component manufacturers and project financiers on one platform and ensures that they are able to deploy quality solar plants swiftly and profitably. By empowering industries to transition to renewable energy, SafEarth aims to reduce carbon emissions on a global scale while assisting solar installers in growing their businesses and decarbonizing the energy footprint.
About Anthill Ventures
Anthill Ventures is a global speed-scaling ecosystem that invests in early-stage companies. Their portfolio includes startups from a variety of industries, including proptech, healthtech, and media and entertainment. Anthill Ventures provides mentorship, access to global markets, and strategic partnerships to help startups scale rapidly.
About Mumbai Angels
Mumbai Angels, India’s premier platform for private investment that is now a part of 360 ONE (earlier known as IIFL Wealth & Asset Management), one of the leading wealth and alternates-focused asset firms in India, holds an AUM of USD 130 Mn and a 200+ strong portfolio spanning a wide range of sectors, such as Technology, Consumer, Life Sciences, DefenseTech, SpaceTech, EV, AgriTech, FinTech, EdTech, Gaming, and Content, etc. Of the overall portfolio, the platform has exited/secured the next round of funding for 100+ of them. The platform has 750+ investors spread across 70+ Global and Indian cities.
Advertisements