LONDON, July 5, 2023 — SuperSight, a London-based Generative AI startup, is redefining the crypto data landscape with its revolutionary Large Language Models (LLMs) tailored for crypto data. The company is thrilled to announce a $1M pre-seed round, backed by Blockchain Founders Fund, Animoca Brands, Druid Ventures, Emurgo, Next Gen Web 3, Vayner Fund, and others. This milestone paves the way for SuperSight to accelerate their development of vertical-specific foundational models.

With 420 million crypto users but only 30,000 able to programmatically derive insights, SuperSight bridges the gap, enabling easy access to information from a range of both on-chain and off-chain sources like Discord, Telegram, Twitter, Mirror, Podcast Transcripts, and News amongst other sources. SuperSight uses AI to improve the search experience, making it personalized, accurate, and more insightful. SuperSight is gearing up to introduce new features like real-time alerts, future trend predictions, and trade capabilities, further simplifying the way people engage with crypto.

Co-founded by Sungjung Kim, Advait Jayant, and Mohammed Junaid, SuperSight was born out of the trio’s shared vision to make blockchain data accessible. Sungjung stems from a background in Physics from Imperial College, with technical experiences at UBS and Fidelity, and has built crypto products since 2017. Advait is a PhD candidate at London Business School with a focus on Crypto Wash Trading; Advait formally trained in Computer Science at BITS Pilani, and previously lectured Machine Learning at O’Reilly (via Technics Publications) and Portfolio Management (Crypto/VC) at UCL. Junaid stems from a Management background from the University of Warwick. Junaid brings experience from trading in crypto, in institutional sales through working at the JP Morgan Equity Derivatives Team, and founding D2C ecommerce businesses.

Speaking about the investment, Aly Madhavji, co-founder and Managing Partner of Blockchain Founders Fund, expressed, “SuperSight’s innovative approach to data analytics holds the promise of transforming the crypto landscape. We’re backing their mission to turn crypto data into a reservoir of insights accessible to all, not just experts.”

Echoing this sentiment, Druid Ventures comments, “SuperSight is pioneering the crypto sector’s AI space to morph intricate, colossal data into clear, valuable insights. This game is about data, yet for many, it remains a riddle – intense and unattainable. SuperSight is not just deciphering the code but reshaping the game itself, ensuring everyone gets a fair shot. It’s the essence of democratization – of ensuring that data is available to all – that fans the flames of our support for this audacious team.”

Developing crypto-specific LLMs, SuperSight is turning complex data into user-friendly insights. Their platform’s intuitive querying allows users to pinpoint high-performing traders, evaluate token profit and loss dynamics, or probe into retention metrics, without writing a single line of code. The extent of query possibilities aligns seamlessly with the breadth of the user’s imagination.

SuperSight envisions a future where every crypto user, regardless of their technical skill, can access and interpret the wealth of information in the crypto universe, driving informed decisions and smarter investments. With SuperSight, that future is now.

About SuperSight

SuperSight (UK) is building crypto-specific Large Language Models (LLMs) to streamline the crypto data discovery process. In a sea of 420 million crypto wallets, only 30,000 users can keep up with the narratives programmatically. SuperSight bridges this gap, providing one-click search across both on-chain and off-chain sources.

About Blockchain Founders Fund

Blockchain Founders Fund (BFF) is a leading early stage Web3 Venture Capital fund which invests in top-tier founders globally. Our backers include a strategic mix of the leading firms in the crypto and traditional finance world. We invest in highly-promising startups taking a go-to-market focus and a hands-on approach to drive value. BFF helps curate strategic partnerships, hire talent, accelerate growth and ensure portfolio founders are well capitalized. Our team is composed of builders and operators that have scaled many of the leading Blockchain startups and are on a mission to support all-star teams shaping the Web3 industry.

Press Contact
Name: Advait Jayant
Company: SuperSight
Email: [email protected] 
Phone: +447873440997

SOURCE SuperSight

NEW YORK, July 5, 2023 — Gooten, a global provider of order management technology for on-demand manufacturing, announced today the closing of $11 million of Series A funding. The round was led by KEC Ventures, with participation from INX International, Tech Pioneers Fund, and other existing investors. As part of the round, Will Geiger of Touchdown Ventures will join Gooten as a board observer on behalf of INX International.

“As the on-demand industry continues to see rapid adoption, our Series A round positions Gooten to continue to deliver a best-in-class on-demand order management platform,” said Brian Rainey, CEO. “This capital will allow us to continue in our mission to address the high costs and economic and environmental issues of traditional inventory-based merchandising by increasing the adoption of on-demand manufacturing. We are excited to partner with KEC Ventures and INX International, both of whom share our vision of disrupting the industry with technology-driven solutions.”

Along with fueling customer growth, Gooten expects to expand its international capabilities, adding new fulfillment partnerships in strategic markets like Korea, Japan, India, Latin America, Brazil, and Western Europe. The company will also enhance its suite of technology tools and services, an offering that enables businesses to streamline their order management operations and tap into the immense potential of on-demand manufacturing. “The Gooten solution fills a unique gap in the market,” says Maddy Alcala, President. “Order management technology has existed for over twenty-five years for the traditional pick-pack-ship fulfillment model. The Gooten team is bringing enterprise-grade software to the on-demand production industry and this capital raise accelerates our ability to deliver new functionality to our customers, helping them grow sales and streamline business operations.”

“Gooten’s innovative approach to order management aligns perfectly with our investment thesis,” said Jeff Parkinson, Gooten board member and Partner at KEC Ventures. “The company’s commitment to leveraging technology and creating seamless, efficient processes has allowed it to build the largest on-demand manufacturing network in the world by capacity, servicing the largest brands, merchandising platforms, and the creator economy. We are excited to support Gooten’s growth as it continues to empower businesses with on-demand manufacturing capabilities.”

The company’s cloud native technology has already attracted a diverse range of customers, including Fortune 100 retailers, global creator and merchandising platforms, and high-growth independent brands.

About Gooten

Gooten is a provider of an order management system to power on-demand production on a global, enterprise scale. Currently powering over 10,000 businesses, Gooten’s enterprise-grade OMS technology provides companies with customizable business rules, and is supported by Gooten’s Global Managed Fulfillment Network, with over 90 manufacturing facilities globally. 

Media Contacts
[email protected]

SOURCE Gooten

The program aims to invest in companies operating in verticals such as data ownership, Web3 privacy tools, NFTs, cryptocurrency platforms, blockchain technology, and DeFi.

TORTOLA, British Virgin Islands, July 5, 2023 — According to McKinsey’s Web3 report, the financial-services industry has primarily adopted some of these nascent digital technologies and assets. At its peak, the daily volume of transactions processed on so-called decentralized finance exchanges exceeded $10 billion, with various market fluctuations felt in the last twelve months, providing entry and exit opportunities for investors and market participants.

Remittances, asset swaps, trade finance, and insurance have all begun to employ smart contracts to achieve automation efficiencies. At the same time, lending, a vertical we are interested in, may demonstrate one of the most effective implementations of Web3 to date.

Global Millennial Capital Ltd (“Global”), an emerging technology and digital assets investment manager, has established itself as a venture capital firm with a track record in investing in fintech and web3 companies since 2020. The recently launched initiative, Global Millennial Web3 Investment Program, aims to accelerate emerging companies to their full potential.

Andreea Danila,  Founder, and General Partner at Global Millennial Capital Ltd., shared:

“We are thrilled to announce the launch of our investment program aimed at investing and accelerating visionary technology companies operating in the Web3, Defi, and blockchain verticals, with a specific emphasis on financial services applications, among others. In addition to the typical acceleration program benefits, which include mentorship, hackathons, regulatory sandbox conversations, and strategic ecosystem connections, Global will deploy its resources to enable Series A companies to access various markets across the Middle East and Africa, from the United Arab Emirates.”

What is the Global Millennial Capital Web3 Accelerator Program?

Global Millennial Capital Web3 Acceleration Program is designed to accelerate technology companies in defining and reshaping business models and economics and creating a network of global ecosystem relationships in the United Arab Emirates. The program will provide one-on-one mentorship, organize hackathons, explore testing and security, and connect with regulators, ecosystem participants, and investors. Global will invest up to $250,000 per company; ten companies are expected to be selected during the program.

How to Participate in the Web3 Accelerator Program?

Global is looking to partner with early-stage technology companies operating in data ownership, Web3 privacy tools, NFTs, cryptocurrency platforms, blockchain technology, digital entertainment, and DeFi, among other opportunistic verticals.

Global invites early-stage companies from around the globe to submit their business plan and pitch deck at https://globalmillennialcapital.com/web3-program/.

An Inclusive and Sustainable Future in Venture Capital Using Data-Driven Investment Decisions

Various digital transformations have led to exponential growth in machine-readable information, or digital data, over the internet. Knowing the impact of the digital economy, Global adopts data models, natural language processing, and artificial intelligence tools to enhance the traditional investment process. Global believes that digitalization has encouraged new forms of collaboration among economic agents in the sharing economy, which has a disruptive impact on the role of conventional financial institutions. The investment style adopted by Global is highly inclusive, leading to improved socioeconomic outcomes through venture capital investments.

About Global Millennial Capital Ltd.

Global Millennial Capital Ltd is the first venture capital investor to introduce the concept of data science in the traditional investment process to create thematic investment themes and artificial intelligence-led investment recommendations. As an active investor in the global fintech sector, which comprises companies operating in the fintech, web3, blockchain, and AI verticals referred to as the “new economy technologies,” Global Millennial Capital Ltd is investing from Fund I ($25 million) in early and growth stages, using a diversified investment strategy targeting risk-adjusted returns while seeking alpha returns with downside protections. As a long-term partner of the entrepreneurs, we deploy value-creation strategies across cycles for our portfolio companies to enhance critical drivers of scalability and profitability, such as access to capital and global markets. Our mission is to generate venture capital returns along with social capital. More information can be found at: https://globalmillennialcapital.com/.

Photo – https://mma.prnewswire.com/media/2147219/Global_Millennial_Capital.jpg

SOURCE Global Millennial Capital Ltd.

SINGAPORE, July 5, 2023 — VentureBlick, a global venture platform for healthcare innovation, announces the successful closure of its first two deals, securing a total of US$2.6 million for two startups despite a challenging funding environment. This achievement is a testament of VentureBlick’s distinctive approach of engaging the global medical community to validate, support, and invest in early-stage healthcare startups.

Exceeding expectations, VentureBlick raised US$1.6 million for NousQ, a Singapore-based startup revolutionizing glue ear surgery with the world’s first smart robotic handheld device. This oversubscription, surpassing the initial target by 60%, demonstrates investors’ strong confidence in medical innovations that address real medical needs and possess a clear clinical use case. The second deal, for a China-based healthcare startup, closed at over US$1 million. Both startups were put through a three-step vetting process, which includes systematic review by medical and industry experts from respective areas across the globe, before they were listed on the platform.

Dr Lynne Lim, Founder & CEO of NousQ, expressed her enthusiasm, stating, “We are thrilled to have surpassed our fundraising target on the VentureBlick platform. This US$1.6 million bridge funding is a significant step towards our ultimate fundraising goal of US$5.5 million for our current ongoing Series A fundraise. Getting such positive responses from fellow doctors and investors around the world means a lot to our team. Equally exciting is the opportunity to tap into VentureBlick’s extensive healthcare expertise and resources.”

Building on this success, VentureBlick is evolving its business model into a ‘Super Incubator’ model, which provides an end-to-end, fully customizable solution to help build, test, and market medtech innovations, with successful exits or commercialisation as the ultimate goal.

Chris Lee, Founder & CEO of VentureBlick, emphasized the importance of this evolution, stating, “Medtech presents unique challenges and opportunities. We found that existing venture support models like incubator or accelerator programs often lack industry-specific focus or cover only certain aspects or growth stages. This leaves significant gaps, uncertainties, and risks to all stakeholders involved in a startup’s development. Super Incubator for VentureBlick is not another of those programs, but how we are going to redefine medtech venture building. What we offer medtech startups is a tailored medtech-centric ecosystem and full-slate support model to enable their innovations to reach the market in the shortest time possible and create most tangible impact.”

VentureBlick will officially launch its Super Incubator in September 2023 and is currently raising funds for the new model. The Super Incubator promises to streamline the startup journey from ideation and testing to venture building and market success. Its comprehensive offering includes product demand validation at the very beginning, fundraising, design and manufacturing, healthcare partnerships, product trial and assessment, health economics and reimbursement strategy, as well as market mapping and access.

As part of its new model, VentureBlick is also launching its medical advisory business, offering expertise in evaluating investments or M&A deals from a medical perspective on behalf of corporate ventures, VCs, or government bodies. One of the largest corporate conglomerates in the world has retained VentureBlick to assess its potential investment deals in the healthcare sector. They will tap into VentureBlick’s global advisory network, which consists of more than 1,000 advisors who have been individually screened and vetted from more than 50 countries covering over 30 specialty areas. The advisor pool will be further expanded to 3,000 by the end of 2023.

With a strong foundation established and an impressive pilot programme, VentureBlick is well-positioned to continue driving and supporting innovation in the healthcare sector with its new business model, ultimately improving healthcare outcomes worldwide.

About VentureBlick

VentureBlick is a Super Incubator for medtech startups, providing a fully customisable one-stop solution to build, test, and market innovations with the ultimate goal of successful exits or commercialisation. Leveraging its global advisor network, strong in-house capabilities, and specialised partners, VentureBlick streamlines the startup journey, from ideation and testing to venture building and market success. The company is headquartered in Singapore with a presence in Australia, China, Germany, India, Korea, and USA. Join us in shaping the future of healthcare at www.ventureblick.com.

SOURCE VentureBlick

HAMBURG, Germany, July 5, 2023 — apoQlar, a pioneering healthtech company, has successfully secured a funding round led by venture capital firm YZR Capital, specializing in health tech investments. This significant investment validates the potential of apoQlar’s advanced augmented reality platform, VSI HoloMedicine®. The funding will be utilized to scale the new software release, VSI HoloMedicine® version 2.0, further improving surgical planning, medical education, and patient outcomes.

“We are thrilled to have received funding from YZR, a leading German venture capital firm in the healthtech space,” said Sirko Pelzl, CEO and co-founder at apoQlar. “This investment not only validates the potential of our augmented reality platform but also highlights the importance of our mission to improve surgical care. We are confident in our ability to drive innovation, expand our reach, and make a significant impact on the healthcare industry globally.”

The partnership with YZR Capital will enable apoQlar to further enhance its augmented reality technology, strengthen its market presence, and expand its global footprint. Additionally, the investment will support apoQlar’s collaborative efforts with healthcare providers and surgical teams to improve patient outcomes and enhance surgical practices.

apoQlar has also formed a groundbreaking partnership with National University Health System (NUHS), Singtel, Infocomm Media Development Authority (IMDA) and Microsoft in Singapore to implement the HoloMedicine® ASAP architecture, which is part of the NUHS HoloMedicine® Program. This collaborative initiative utilizes Azure private multi-access edge compute (MEC), Azure private cloud and 5G technology, enabling surgeons to leverage the immersive capabilities of the VSI HoloMedicine® platform through mixed reality headsets such as HoloLens 2 and other extended reality (XR) devices.

“We are proud to be part of the NUHS HoloMedicine® ASAP program,” added Sirko Pelzl. “This collaboration represents a significant step forward in utilizing technology to elevate patient care and revolutionize the field of medicine. We believe this groundbreaking initiative will inspire healthcare institutions worldwide to adopt augmented reality solutions and drive innovation.”

apoQlar’s partnership with NUHS exemplifies a shared commitment to pushing the boundaries of medical technology and transforming the healthcare landscape. This collaboration sets the stage for global healthcare institutions to embrace the benefits of the VSI HoloMedicine® platform, ultimately enhancing medical practices and delivering exceptional patient care.

For more information about apoQlar and its augmented reality platform, VSI HoloMedicine®, please visit: apoQlar.com 

Video: https://youtu.be/QmDl_ttxpJk 
Logo: https://mma.prnewswire.com/media/1959037/4148265/apoQlar_Logo.jpg

Contact name: Sirko Pelzl, CEO
Email: [email protected]
Phone: 040 24192779

SOURCE apoQlar GmbH

DUBLIN, July 3, 2023 — Icarus Media Digital, a leading venture building studio, is proud to announce a significant milestone in its journey of creating profitable ventures across diverse domains. With a steadfast commitment to innovation and entrepreneurship, Icarus Media Digital has achieved remarkable success in nurturing and developing a portfolio of thriving businesses.

The studio celebrates reaching the remarkable achievements of 1 million average monthly unique visitors and 15 million page views across its portfolio of ventures in the last six months.

Founded and operated in 2016 by Matthieu Mayran, Icarus Media Digital has been at the forefront of identifying and capitalizing on lucrative opportunities in various industries. With a strategic approach and a team of experienced professionals, the company has consistently demonstrated its ability to create sustainable and profitable ventures.

As a venture building studio led by Jules Decol, Icarus Media Digital operates on the principle of fostering entrepreneurship and providing the necessary resources, expertise, and support to transform ideas into successful businesses. By working closely with talented individuals and startups, Icarus Media Digital has facilitated the growth and expansion of ventures across a diverse range of sectors.

This milestone celebration is a testament to the effectiveness of Icarus Media Digital’s venture building approach. Through a combination of strategic investments, business development initiatives, and mentorship, the studio has enabled the creation of innovative and profitable enterprises that have made a positive impact in their respective industries.

Icarus Media Digital congratulates its team of talented people, partners, and stakeholders who have contributed to this milestone achievement. Their dedication, hard work, and collaborative spirit have been instrumental in the success of the ventures nurtured by Icarus Media Digital.

Looking forward, Icarus Media Digital remains committed to fostering entrepreneurship, driving innovation, and creating a sustainable ecosystem for ventures to thrive. With its proven track record and expertise in venture building, the studio is well-positioned to continue its mission of identifying and developing profitable ventures in various domains.

About Icarus Media Digital:

Icarus Media Digital is a venture building studio based in Dublin, founded in 2016. The studio is dedicated to nurturing and developing profitable ventures across diverse industries. Through strategic investments, business development initiatives, and mentorship, Icarus Media Digital has established itself as a leading venture building studio.

Photo – https://mma.prnewswire.com/media/2146119/Icarus_Media_Digital.jpg
Logo – https://mma.prnewswire.com/media/2143203/Icarus_Media_Digital_Logo.jpg

SOURCE Icarus Media Digital

LONDON, July 3, 2023 — KaarTech, a Global Digital Transformation Consulting company specialising in SAP and S/4 HANA implementation, has raised $30M from A91 Partners, a leading investment firm headquartered in Mumbai. Gautam Mago and Kaushik Anand from A91 Partners will join the Board of KaarTech.

This partnership aims to fuel KaarTech’s organic and inorganic growth across existing markets in the Middle East, the European Union and North America. It marks the beginning of a new chapter in its growth journey, particularly emphasising establishing a solid presence in North America.

Founded in 2006, KaarTech is a high-growth company specialising in IP & Digital Services in the SAP ecosystem with deep expertise in discrete manufacturing, professional services automation, process manufacturing and consumer packaged goods. With a team of over 2000 employees, KaarTech has doubled its revenue in the last 24 months.

“The partnership with A91 will catapult KaarTech into an unprecedented era of expansion, propelling us towards our aspiration of going public, despite our humble bootstrapped origins. This association will bolster our ability to expand geographically and augment our services portfolio in-organically. In doing so, we aspire to be the partner of choice for customers looking for Digital Transformation journeys in SAP, Cloud ecosystem customer experience, Process Automation and Data Analytics blended with KaarTech’s core competence in Logistics, Supply Chain, Financial and Human Capital Management,” said Mr. Maran Nagarajan, CEO of KaarTech.

“We are excited to be partnering with Kaar Technologies. Over the last decade, they have established themselves as one of the leading partners for Digital Transformation and SAP Consulting Services. We look forward to working closely with them in helping them expand their geographic presence in the US and Europe and in their journey towards becoming a publicly listed company,” said Mr. Kaushik Anand, partner at A91.

Veda Corporate Advisors (“Veda”) was the exclusive financial advisor to the Company and its promoters.

About KaarTech:

KaarTech, headquartered in Chennai, was started by four college friends from Tamil Nadu. Today, KaarTech’s operations extend to 15+ global regions, having successfully executed over 2500 projects and several of them being for marquee customers like Aramco. KaarTech has won 23 Quality Awards and is poised to win many more. KaarTech’s equal emphasis on its people is also worth a mention, as demonstrated by their impressive attrition rate of 3.5%, particularly when the industry is reeling north of 20% in employee turnover.

For additional information, visit http://kaartech.com 

About A91:

Founded in 2018, A91 Partners is an investment firm investing across India’s Consumer, Technology, Financial Services and Healthcare sectors. A91 partners with entrepreneurs to build enduring businesses for tomorrow’s India. Current investments include Digit General Insurance, Aye Finance, Sugar Cosmetics, Atomberg Technologies, Hector Beverages, Videoverse, Exotel, Happilo, Inshorts, La Renon, Shipsy, Healthkart and GIVA.

For additional information, visit https://a91partners.com/.

Photo: https://mma.prnewswire.com/media/2146106/KaarTech.jpg

SOURCE KaarTech

Keshav Sharma Will Use the $100,000 O’Shaughnessy Fellowship Grant to Continue Building an Artificial Intelligence and Augmented Reality Platform That Enables Users to Create, Edit, and Demonstrate 3D Models at Scale

GREENWICH, Conn., June 30, 2023 — O’Shaughnessy Ventures LLC (“OSV”), an investment firm that empowers creators, has awarded an O’Shaughnessy Fellowship to Keshav Sharma. 

Sharma is a co-founder and the CEO of Augrade Private Limited. Augrade is developing an artificial intelligence and augmented reality platform that creates a 3D model from any input type and enables users such as architects and real estate developers to make real-time changes to the model using simple hand interactions. The platform will enable users to visualize data and materials and walk others through the space virtually.

OSV’s founder and CEO, Jim O’Shaughnessy, commented:

“Keshav’s dedication to developing technologies that augment human capabilities couldn’t be more aligned with OSV’s mission to help creators unleash their infinite potential. We’re excited to be able to support him in building the Augrade platform.”

Sharma said, “It always seems impossible until it’s done. So go out there and chase your dreams.”

About Sharma

Sharma lives at the intersection of design, technology, and marketing. He has been creating and selling products since he first developed and sold a remote-controlled boat at the age of twelve.

Since then, Sharma has run a drop-shipping business, created a portal to help artists and creators showcase their work, and created an AI platform for food and fitness during his undergraduate degree in computer science.

Currently, Sharma is focused on empowering people with spatial computing and enhancing how we all live, work, and play.

More information about Sharma can be found on his LinkedIn page.

About the Fellowship Program

OSV launched the Fellowship Program in 2023. It is a one-year program for ambitious people who want to build something great. Fellows receive a $100,000 grant and access to OSV’s network of founders, investors, and experts to support them in bringing their projects to life. 

OSV will award twelve Fellowships in total. Applications for Fellowships are now closed and will reopen on January 1, 2024. Creators interested in learning more can do so via OSV’s website.

About O’Shaughnessy Ventures

OSV is a creative investment firm that empowers and inspires creators to bring their ideas to life. Founded by Jim O’Shaughnessy, a pioneer in quantitative investing, founder of O’Shaughnessy Asset Management, and author of four books on investing, OSV aims to provide financial support and to partner in growing the next life-changing creative ideas. 

OSV combines Jim’s deeply rooted interest in all things art, science, investing, and tech with his long-held desire to establish scenarios designed to help promising creators and their inspiring ideas succeed, regardless of age, location, job history, or level of education. For more information, visit https://www.osv.llc/.

Contact: Ena Gong
O’Shaughnessy Ventures LLC
(917) 355-7420
[email protected]  

SOURCE O’Shaughnessy Ventures LLC

MUMBAI, India, June 30, 2023 — Avaada Group, a leading integrated energy platform, has announced the successful closure of INR 10,700 crore ($1.3 billion) funding round, marking a historic moment for the green energy industry in Asia and India’s renewable energy sector. This funding round is the largest equity round ever raised by any green energy company in Asia.

The funding will be used to bolster Avaada’s green hydrogen, green methanol, green ammonia, solar manufacturing and renewable power generation ventures, as part of India’s commitment to a sustainable future. This achievement underscores the effectiveness of government policies encouraging investment in green energy and the global transition towards sustainable energy solutions.

In a significant boost to its solar manufacturing capabilities, Avaada Group had previously won a production-linked incentive of INR 961 crore ($116.78 million) for 3 GW of wafer-to-module capacity under the PLI Scheme. This win, coupled with the successful funding round, further solidifies Avaada’s position as a leader in the renewable energy sector and underscores its commitment to harnessing green energy for a sustainable future.

Adding to its list of achievements, Avaada Energy Private Limited has won several tenders, amounting to almost 1.8 GW, in the last three months from corporate customers and utilities. This success demonstrates Avaada’ s ability to meet the growing demand for renewable energy and its commitment to delivering high quality, sustainable energy solutions.

Brookfield Renewables, through its Brookfield Global Transition Fund (BGTF), has earlier committed to investing up to INR 8,225 crore ($1 billion) in Avaada Ventures Private Limited. In addition, Global Power Synergy Public Company Limited (GPSC), an existing shareholder with a 42.93% equity holding in Avaada Energy Private Ltd (AEPL), has pledged to increase its capital by investing an additional INR 1,917 crore ($233 million) in AEPL, further supporting the company’s growth. This follows GPSC’s previous investment of INR 558 crore ($68 million) in AEPL in April, bringing their total investment in Avaada to around INR 6,037 crore ($779 million).

This successful funding round is a testament to India’s commitment to choosing innovation and technology over traditional energy sources. The country stands at a pivotal moment, with the potential to grow using either conventional energy or the latest green technologies. The choice of the latter is creating enormous opportunities through the global transition fund.

Vineet Mittal, Chairperson and Founder, Avaada Group, commented: “This funding round marks a significant milestone in Avaada Group’s journey and India’s energy transition. We are grateful for the support from our investors and the Indian government, which is enabling us to contribute to the global energy transition and deliver on our promise of a sustainable future.”

Mr. Worawat Pitayasiri, President and CEO of Global Power Synergy Public Company Limited (GPSC), said “Our decision to invest further in AEPL is based on our confidence in their strategic approach to the renewable energy sector, aiming to achieve at least 11 GW in 2026. AEPL’s commitment to renewable power generation aligns well with our own focus on sustainable growth and innovation.”

Avaada Group has diversified into manufacturing Green Hydrogen, Green Methanol, Green Ammonia, and expanded its footprint into the Solar PV supply chain with the manufacturing of solar cell and module. The company currently operates a renewable energy portfolio of ~4 GW and around 7 GW in different stages of implementation.

Logo – https://mma.prnewswire.com/media/2143606/Avaada_Group_Logo.jpg

SOURCE Avaada Group