Banyan Green raises Rs 1 crore from I3N, other angels
Friday, December 19, 2014
Banyan Green Fuels, a startup that develops customised biofuels for clients, has raised Rs 1 crore from Intellecap Impact Investment Network (I3N) and angels such as Naveen Kshatriya, founder of Kshatriya Ventures, and Rema Subramanian of Mumbai’s early-stage impact-fund Ankur Capital.
“This is our second investment in a clean energy company. Banyan’s work is very simple and useful and is complimentary to the ecosystem,” said Aditi Shrivastava, Head, I3N, which marks its ninth investment overall with the startup, and has previously invested in social, for-profit enterprises such as LabourNet, AgroStar, iKure and Ketto among others.