SafEarth secures USD 35M funding round with support from co-investors

HYDERABAD: SafEarth, India's largest technology platform for adoption of renewable energy, on Wednesday announced the successful completion of its recent funding round of USD 35 million (Rs 3.5 crore). The funding was led by Anthill Ventures, Third Derivative and Mumbai Angels. This investment will fuel SafEarth's product development initiatives and support its expansion into new industrial belts across the country.

SafEarth co-founder Harshit Poddar emphasized the importance of their platform's effectiveness, which played a significant role in attracting investors. "Through our advanced tech stack and comprehensive suite of products, SafEarth is driving the transition to sustainable energy sources and helping industries reduce their carbon emissions at scale. The recent funding round not only validates our mission but also empowers us to accelerate product development and expand our reach to new industrial belts across India. Together, we can build a cleaner and more sustainable future,’’ Harshit said.

Anthill Ventures partner Sailesh Sigatapu said that SafEarth's selection as their first cohort of Gruhas ASPIRE program underscored the significance of their accelerator programme in nurturing and supporting ground breaking startups. “We are excited to witness SafEarth's continued success and are confident that their achievements will inspire and motivate future cohorts in the Gruhas ASPIRE program to create meaningful and sustainable change in the proptech landscape,” he said.

Mumbai Angels CEO Nandini Mansinghka said that through this funding round, SafEarth moved one step further into cementing its place as India’s largest tech platform for solar power adoption. He congratulated the team at SafEarth and hoped that they continued the good work of helping industries to optimize energy consumption and transition to clean, renewable power. The recent funding round would propel SafEarth's product development and expand its reach among industries, accelerating their transition to sustainable energy sources, he said.

“With its integrated platform for solar projects covering engineering, procurement, execution and financing support, SafEarth has already gained a significant market share, securing 6.67 percent in the C&I Rooftop Solar space and 5 percent in India's overall distributed solar market. SafEarth's mid-term goal is to facilitate the reduction of one million tonnes of annual carbon emissions through over 1GW of solar projects in the next two years. This funding will play a crucial role in achieving this milestone and empowering industries to reduce one billion tonnes of CO2 equivalent by 2030,” the CEO said.