Funding · Agriculture & Food Systems

BiofuelCircle raises ₹35 crore in bridge round

By Startup Enthusiast · 10 July 2026

What they do

BiofuelCircle runs a digital marketplace connecting farmers, biomass aggregators, and biofuel manufacturers

It raised ₹35 crore in a bridge round led by Pooja Unichem LLP, with participation from Varanium Venture and others

The company plans a larger Series B round in early 2027 to double its network of biomass banks

BiofuelCircle raised ₹35 crore ($3.6 million) in a bridge funding round.
The round was led by Pooja Unichem LLP, which invested ₹22.40 crore.
Other investors included Rajeev Kumar (₹3 crore), Ashish Kumar (₹2 crore), Karma Capital Advisors (₹1 crore), and several angels.
The company also issued 500 NCDs of ₹1 lakh each to Varanium Venture for an additional ₹5 crore.
Funds will be used for working capital and to accelerate growth, strengthen the digital platform, and expand the supply chain.
BiofuelCircle is targeting a Series B round in early 2027 to roughly double its biomass banks across India.
The company expects to nearly triple revenue to ₹500 crore in FY27.

India's National Bioenergy Programme and SATAT initiatives are boosting demand for agricultural residue.
Growing pipeline of CBG plants by oil marketing companies and private developers is increasing demand for biomass feedstock.
Geopolitical disruptions to global energy markets are strengthening investor interest in domestic bioenergy.

BiofuelCircle is a hybrid digital and physical marketplace connecting farmers, biomass aggregators, biofuel manufacturers, and industrial consumers.
Its platform enables biomass trading, price discovery, logistics management, trade financing, and supply chain digitization.
The company operates across 800 villages in 10 states including Haryana, Punjab, Uttar Pradesh, Gujarat, Maharashtra, and Andhra Pradesh.
It runs about 80 biomass banks as collection and storage centres and aggregates crop residue through around 2,000 farmers.
BiofuelCircle purchases biomass from farmers, stores it in biomass banks, and sells it to biofuel manufacturers and industrial users.
It directly supplies feedstock to CBG projects of IOCL, Reliance, and Adani Total Gas.
Industrial customers include Unilever, PepsiCo, and Coca-Cola.
The company serves about 2,000 biofuel companies and over 600 industrial buyers.

Targeting ₹70 crore working capital financing over the coming months.
Planning a larger Series B round early next year (2027).
Series B capital will be used to roughly double the number of biomass banks across India.
Expects to nearly triple revenue to ₹500 crore in FY27.
Will spend the current year fully utilising the existing network before Series B expansion.

Product: Hybrid digital and physical marketplace platform for biomass and biofuel transactions
Customers: Farmers, biomass aggregators, biofuel manufacturers and industrial consumers
How it makes money: Marketplace connecting supply and demand sides through digital platform and physical biomass banks
What sets it apart: Operational biomass collection and supply chain infrastructure bridging farmers and industrial buyers