Promethean Energy Secures $2 Mn Pre-series A To Decarbonise Indian Factories
Summary
In a fresh push towards industrial decarbonisation, Mumbai-based cleantech startup Promethean Energy has raised USD 2 million in a Pre-Series A funding round led by Transition VC, with participation from Sangam Venture, Sagana Capital, and Fondation Botnar.Founded in 2014 by Rajat Agarwal and Ashwin Krishna, Promethean develops high-efficiency industrial heat pumps and waste heat recovery systems aimed at replacing fossil fuel-based thermal systems across Indian factories. With the new capital, the startup plans to broaden its product portfolio, scale operations, and enter new markets across India and Southeast Asia. "Prometheans locally optimised solutions are designed for Indias diverse industrial conditions. Its systems integrate thermal storage, smart controls, and real-time energy monitoring, delivering guaranteed energy savings and rapid ROI for clients in sectors such as automotive, FMCG, chemicals, textiles, distilleries, and steel. It also plans to initiate international pilots in Bangladesh, Indonesia, and the Middle East.Indias industrial and manufacturing sector accounts for nearly 10 per cent of the countrys total greenhouse gas emissions, or about 240 million tonne of COe, said Shoeb Ali, Co-founder and Managing Partner, Transition VC.