Climate-tech company Carbon Masters has raised an undisclosed amount in a new equity funding round led by Schneider Electric Energy Access Asia (SEEAA), Sangam Ventures, and IAN Group.
Other investors in the round included Muthu Murugappan (CEO of the Murugappa Group) and Sriram Sankaran (Synchron Group).
The funds will be used to increase Carbonlite’s CBG production, expand its organic fertilizer range, improve operational efficiency, and grow its sales, marketing, and R&D teams.
“We are proud to support Carbon Masters in its mission to decarbonize critical sectors of the Indian economy. Investing in scalable clean energy infrastructure and sustainable agriculture solutions is vital to building a resilient and inclusive low-carbon future.”, Gilles Vermot Desroches, SVP, Corporate Citizenship, Schneider Electric & President, SEEAA.
“Carbon Masters’ innovative circular economy business model aligns with our vision of financing deep decarbonization pathways. The company’s potential to displace fossil fuels while improving soil health makes it a compelling climate-tech investment,” said, Karthik Chandrasekar, CEO of Sangam Ventures.
“IAN has topped up its investment in Carbon Masters. This is a strong endorsement of the team’s execution and their ability to keep evolving. Carbon Masters reflects IAN’s thesis of solving real problems through innovation.”, Padmaja Ruparel, Co-founder of IAN Group.
“We are grateful for the continued trust of our investors, which reflects confidence in our business and growth plans. This investment will help us further strengthen operations and scale sustainably, as we continue to support India’s transition to a low-carbon future and help our customers meet their net zero goals.” Som Narayan, CEO & Co-founder, Carbon Masters.
Carbon Masters was co-founded by Som Narayan and Kevin Houston. The company converts organic waste that would go to landfills into renewable biomethane and nutrient-rich organic manure under its Carbonlites brand.
It works with waste management companies through special purpose vehicles (SPVs) and joint ventures (JVs).
Carbon Masters’ main joint venture with Hasiru Dala Innovations runs one of Bengaluru’s few authorized wet waste facilities. It also has a GAIL-approved pipeline to supply biomethane to India’s gas grid.
The company produces Compressed Bio-Methane Gas (CBG) and bio-enriched manure for commercial kitchens, industries, transport fleets, and city gas networks, while improving soil health.
With five CBG plants in Karnataka, Telangana, and Tamil Nadu, Carbon Masters processes over 36,000 tonnes of municipal waste every year. The company is planning a new equity raise to fund five upcoming SPVs, with Ostara Advisors as its transaction advisor.
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