Greenjoules lands ₹150 crore Series B
By Abha Lohia · Editor ·
Greenjoules: funding and every story →
Series BPuneFounded 2018
- Greenjoules, based in Pune, turns farm and agro-industry waste into biocrude, which is refined into renewable diesel and bio-naphtha
- It closed a ₹150 crore Series B co-led by two Amazon-linked funds, and also took a ₹100 crore loan from a government technology board
- The ₹250 crore total will build a Khed City plant making 200,000 litres of biocrude daily, with phased work starting in 2027
What happened
- Greenjoules raised a ₹150 crore Series B round.
- Two Amazon-linked funds, Smbhav Venture Fund and Climate Pledge Fund, co-led it.
- Rainmatter and Singularity's Strategic Autonomy Fund also joined.
- A separate ₹100 crore loan came from the Technology Development Board.
- Combined funding stands at ₹250 crore.
Why it matters
- The money builds a Khed City plant near Pune.
- The plant targets 200,000 litres of biocrude a day from farm waste.
- Work will be phased, starting in 2027.
The business
- Greenjoules turns agricultural waste into renewable fuel.
- It uses its own Integrated Catalytic Thermocracking process.
- The biocrude is refined into renewable diesel and bio-naphtha.
- The diesel works in existing engines without changes.
- It is also exploring aviation fuel and green hydrogen.
The founders
RV
Radhika Viraraghavan
Co-founderSR
Sethunath Ramaswamy
Co-founderWho put in money
- Blue Ashva Capital Series A lead, largest shareholder
- Rainmatter investor — Zerodha's investment arm
In numbers
200,000Planned capacity (litres/day) · 2027
What happens next
- Phased plant build from 2027.
Earlier rounds
- Series A in 2021 led by Blue Ashva Capital.
- Series B of ₹150 crore in 2026.
The numbers around it
Greenjoules has 2 funding rounds in StopDown's archive.
| When | Round | Amount | Led by |
|---|---|---|---|
| 21 August 2026 | series-b | ₹62 Cr | Amazon.com NV Investment Holdings |
Climate, Energy & Sustainability in November 2026: 3 rounds with a disclosed amount, $37.3 million in all; the biggest was Greenjoules (₹150 Cr). Every sector this year →
Terms in this story
- Funding stage: Startups raise money in steps called funding stages: pre-seed, seed, Series A, B, C and later, ending in a listing or a sale. Each step is larger and asks for more proof. In India, Series A rounds run from a few million dollars to about $15 million, as of November 2026.
- Series B/C: Series B, C, D and later rounds are growth rounds: large cheques for a startup with a proven model that wants to expand, enter new markets or move toward profit and a listing. In India they are usually priced in CCPS and, when foreign investors take part, must follow FEMA pricing rules.
Read next
FundingaltM raises $10.3M to scale farm-waste chemicalsAltM makes specialty chemicals and bio-based materials from crop leftovers, offering a plant-based substitute for inputs now made from fossil fuelsFundingTwo Point O Capital raises $10 millionTwo Point O Capital, headquartered in Mumbai, finances solar and other clean power assets for factories, offices and similar business clientsPeopleLohum names Nobel laureate chief scientistLohum is a Noida firm that recycles lithium-ion batteries and makes critical raw materials for battery makers
Everything on Greenjoules → · All startup news on 11 November 2026 →
Is this Greenjoules? Get your “Featured on StopDown” badge →