SustVest, a platform that specializes in sustainable investments in renewable energy, raised $1.7 million in a pre-series A round of debt and equity led by Inflection Point Ventures and Antler, with participation from WEH Ventures, Venture Catalysts, Soonicorn Ventures, FAAD Network, and others.
The funds will be used to fund important business growth initiatives, such as purchasing solar projects, scaling marketing with the launch of the regulated platform, fortifying operations, and paying for legal fees.
The platform has achieved over ?43 Cr in Assets Under Management (AUM) with 9.3 MW of solar installations, distributing over ?5.7 Cr in energy income, and reducing carbon emissions by over 94 lakh kg.
Co-founders Devansh Shah (CTO) and Hardik Bhatia (CEO) contribute extensive industry knowledge. Hardik, who received a B.E. in computer science from BITS Pilani, had a wealth of fintech knowledge and a family history in the solar industry. Devansh is a digital innovator and a Finance and Computer Science graduate of BITS Pilani.
SustVest allows C&I consumers to access free solar projects at up to 50% cheaper prices while providing investors with fixed-income options that have an environmental impact. Renowned customers like Lodha Group, Hitachi, Mahle Group, Subros Ltd, CISF, NSG, CRPF, and others are represented in their portfolio.
SustVest’s regulated platform facilitates smooth KYC procedures for investors worldwide. Its initiatives are spread across important regions, such as Himachal Pradesh and Maharashtra.
India’s rooftop solar market presents a $405.63 billion opportunity, with 7.6 million MSMEs fit for solar integration. The alternative investment market in India is expected to reach $11.8 billion, driven by 99 million individuals earning over ?15 lakh annually.
Key Comments
Ankur Mittal, Co-Founder, Inflection Point Ventures, says: “Many smaller investors find it difficult to invest in renewable energy due to high entry barriers. SustVest solves this by offering fractional ownership in renewable energy projects for investing. By doing so, SustVest is making sustainable investments more accessible to a broader audience and democratizing the renewable energy projects. In turn, helping investors earn passive income and promote the growth of clean energy initiatives.”
Hardik Bhatia, Co-Founder and CEO, Sustvest, says,” The investment opportunities once reserved for the ultra-wealthy are now accessible to all through SustVest, democratizing renewable energy investments. We’re building a gateway for EPCs to access finance for the OPEX model, bridging critical gaps in the ecosystem. IPV has been exceptional in understanding our vision and supporting us on this journey with their expertise, enabling us to scale our impact and bring clean energy closer to everyone.”
