Funding · Climate, Energy & Sustainability

GPS Renewables raises ₹635 Cr in Series C funding

By Startup Enthusiast · 8 June 2026

Date: 8 June 2026
Company: GPS Renewables
What it does: compressed biogas projects
Kind: Funding
Amount: ₹635 Cr
Stage: Series C
Founded: 2012
Sector: Climate, Energy & Sustainability

What they do

GPS Renewables develops and builds compressed biogas (CBG) projects using organic waste and agricultural residue to produce clean fuels like CBG, ethanol,…

What happened

The company raised ₹635 Cr in Series C funding led by PixelSky Capital, with participation from Sojitz Corporation, Spectrum Impact Family Office, and an…

Why it matters

The funds will be used to expand the company’s CBG infrastructure and accelerate execution of its growing pipeline of projects, including India’s first…

The details

GPS Renewables has raised ₹635 crore in a Series C funding round led by PixelSky Capital, with participation from Sojitz Corporation, Spectrum Impact Family Office, and an undisclosed Korean conglomerate.
PixelSky Capital invested ₹125 crore, while Sojitz Corporation invested ₹310 crore in the company’s asset platform business.
The undisclosed Korean conglomerate has committed ₹200 crore for GPSR Arya, the company’s asset-holding platform.
The fresh capital will be used to expand GPS Renewables’ bioenergy infrastructure, fund ongoing and upcoming projects, and strengthen its financial position.
Mainak Chakraborty, co-founder and CEO of GPS Renewables, said the investment reflects growing confidence in the renewable natural gas sector and will enhance the company’s ability to execute its expanding project pipeline.
Parag Parikh, group CFO of GPS Renewables and CEO of Arya, said the funding will support the group’s capital management strategy and provide leverage for its EPC and asset platform businesses.
GPS Renewables has delivered several projects, including Asia’s largest municipal solid waste-based CBG plant in Indore and CBG plants in Barabanki.

The bigger picture

GPS Renewables has been developing renewable fuel projects for over a decade, with expertise in technology, engineering, EPC, operations, and project development.
The company employs more than 800 people and generates annual revenue of approximately ₹1,000 crore.
The startup has visibility on over 200 CBG projects being developed with oil marketing companies.
GPS Renewables recently secured an EPC contract from NTPC to build India’s first ethanol-to-jet (ETJ) sustainable aviation fuel plant.
The company has joint ventures with Indian Oil Corporation, Bharat Petroleum Corporation Limited, and Oil India for CBG infrastructure development.

About the business

GPS Renewables provides end-to-end solutions for the development, production, and distribution of biofuels such as compressed biogas (CBG), ethanol, sustainable aviation fuel (SAF), and green hydrogen.
The company converts agricultural residue, food waste, municipal waste, and other organic feedstock into clean fuels.
GPS Renewables has delivered several major CBG projects, including the Asia’s largest municipal solid waste-based CBG plant in Indore and CBG plants in Barabanki.
GPS Renewables has joint ventures with Indian Oil Corporation, Bharat Petroleum Corporation Limited, and Oil India for CBG infrastructure development.
The company has a pipeline of more than 30 operational or near-complete projects and visibility on over 200 CBG projects being developed with oil marketing companies.

What happens next

GPS Renewables plans to expand its CBG infrastructure and accelerate execution of its growing pipeline of large-scale projects.
The company will leverage the fresh capital to strengthen its balance sheet and support its long-term capital management strategy.

The deal

Type: funding

Investors

PixelSky Capital (lead) — Invested ₹125 Cr in the Series C round.
Sojitz Corporation (investor) — Invested ₹310 Cr in the company’s asset platform business.
Spectrum Impact Family Office (investor) — Participated in the Series C round.
Undisclosed Korean conglomerate (investor) — Committed ₹200 Cr for GPSR Arya, the company’s asset-holding platform.

Founders

Mainak Chakraborty, Co-founder and CEO
Sreekrishna Sankar, Co-founder
Parag Parikh, Group CFO and CEO of Arya

About GPS Renewables

Product: End-to-end solutions for development, production and distribution of compressed biogas and biofuels
Customers: Industrial and commercial entities seeking sustainable fuel alternatives
How it makes money: B2B model converting agricultural residue, food waste and municipal waste into CBG, ethanol, SAF and green hydrogen
What sets it apart: Proprietary technology for converting organic feedstock into multiple clean fuel types

Same day

All startup news on 8 June 2026 →