Latest news with #AvaanaCapital
Entrepreneur
24-07-2025
- Business
- Entrepreneur
Enlite Raises INR 46 Cr from Avaana Capital to Expand Globally
With the fresh funds, Enlite aims to expand into global markets, enhance its Indian presence, boost edge AI and telemetry, and scale teams to support growth across commercial, public, and government infrastructure sectors. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Enlite, a building automation startup, has secured INR 46 crore in a Series A funding round led by Avaana Capital, with participation from Claypond Capital. The funds will be used to fuel its expansion into the Middle East and Southeast Asia while strengthening its operations in India. The startup plans to invest in edge artificial intelligence, telemetry systems, and market outreach across sectors such as real estate, pharmaceuticals, smart airports, hospitality, and public infrastructure. Founded by Gaurav Bali and Garima Bharadwaj in November 2017, Enlite spent over four years developing a full-stack solution for building intelligence. The company launched commercially in 2022 and has since deployed its technology across more than 25 million square feet of infrastructure, including commercial buildings, hospitals, and luxury hotels. "We bootstrapped Enlite for seven years with one belief that India can build a global solution in building automation. This fundraise is not just capital infusion; it is a turning point to scale faster and deepen our technology," said Gaurav Bali, Co-founder and Chief Executive Officer of Enlite. Enlite offers a plug-and-play platform that replaces conventional wired building management systems with wireless, cloud-native automation. Its solution integrates custom-designed hardware, telemetry engines, and decision-making software to enable infrastructure that adapts in real time. The system is designed to reduce energy consumption, improve user experience, and avoid dependence on specific vendors. "The first building control systems were created more than four decades ago. Not much has changed since then. We have rebuilt the entire stack to make buildings intelligent and responsive by design," said Garima Bharadwaj, Co-founder and Chief Technology Officer of Enlite. Enlite claims that it is already working with major clients such as Prestige Group, Fairmont Mumbai, and India's leading REITs. It is also piloting large language model integration on hardware and holds three global patents. The brand is actively involved in several government infrastructure projects, competing alongside global legacy players. Swapna Gupta, Partner at Avaana Capital, said, "Enlite is applying deeptech to transform how infrastructure is designed and operated. The team's purpose-built hardware and native interoperability could set new global benchmarks in autonomy and sustainability."
Entrepreneur
24-06-2025
- Automotive
- Entrepreneur
Kazam Secures USD 6.2 Mn Series B Funding from IFC and Existing Investors to Scale EV Infrastructure
The fresh capital will be used to expand Kazam's market presence and further develop its suite of digital energy-transition tools aimed at accelerating the global shift to sustainable mobility. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Kazam, a Bengaluru-based EV energy-tech startup, has raised USD 6.2 million in Series B funding from the International Finance Corporation (IFC), along with continued support from existing investors Vertex Ventures Southeast Asia & India and Avaana Capital Advisors. The fresh capital will be used to expand Kazam's market presence and further develop its suite of digital energy-transition tools aimed at accelerating the global shift to sustainable mobility. With this round, the total funding raised by Kazam now stands at USD 19.2 million, which includes USD 13 million in equity raised from previous rounds led by Avaana Capital, Vertex Ventures, and Chakra Ventures. "Kazam is building the digital infrastructure for EVs at scale, something that's critical as the world transitions to clean mobility," said Akshay Shekhar, CEO and Co-founder of Kazam. "IFC's backing signals confidence in our platform's potential to decarbonize transport, especially across emerging markets." Founded in 2020 by Akshay Shekhar and Vaibhav Tyagi, Kazam offers a device-agnostic platform for EV charging and battery-swapping operators, vehicle OEMs, fleet managers, and utility companies. Its innovative technology allows stakeholders to manage, monitor, and analyse their charging infrastructure through both software and hardware solutions, addressing major challenges like range anxiety and charging accessibility. As a founding alliance member of the Unified Energy Interface (UEI), Kazam is contributing to the creation of an interoperable, UPI-like protocol for the energy sector, reinforcing its commitment to open and scalable digital solutions. "EVs are key to accelerating India's economic growth and energy transition," said Wendy Werner, Country Head, India and Maldives, IFC. "Our investment in Kazam aligns with IFC's strategy to catalyze the EV ecosystem and improve access to clean transport infrastructure." Kazam claims to have demonstrated strong growth, with revenue quadrupling from USD 1.5 million in FY24 to USD 6 million in FY25, and is targeting USD 12 million in FY26. The company has deployed over 68,000 charging points, facilitated over 5 million charging sessions, and powered 45 GWh of clean energy—offsetting 46,000 tons of CO₂. "This round is a testament to Kazam's full-stack 'charging-in-a-box' platform and visionary leadership," said Nikhil Marwaha of Vertex Ventures. Avaana Capital's Swapna Gupta added, "Kazam is building the energy gateway for mobility with unmatched focus and technology prowess." The funding signals a major leap in Kazam's journey to build the digital backbone for global EV adoption.
Time of India
22-06-2025
- Automotive
- Time of India
Kazam raises $6.2 million to expand EV infrastructure
Bengaluru: Bengaluru-based electric mobility technology company Kazam has raised $6.2 million led by the International Finance Corporation (IFC), with participation from existing investors Vertex Ventures and Avaana Capital. The fresh capital will help Kazam expand its digital EV infrastructure offerings across markets and support the global shift towards sustainable transportation, founder and CEO Akshay Shekhar told TOI. The latest round brings Kazam's total funding to $19.2 million, including $13 million in equity financing from earlier rounds led by Avaana Capital, Vertex Ventures, and Chakra Ventures. "Kazam is building the digital infrastructure for EVs at scale, a critical piece in the global shift to clean mobility," said Akshay Shekhar, CEO and Cofounder, Kazam. Kazam witnessed significant growth, achieving revenues of $6 million in FY25, four times its FY24 revenues, and is targeting $12 million this fiscal year. The company onboarded over 68,000 chargers, enabled more than 5 million charging sessions, and facilitated over 45 GWh of energy, avoiding an estimated 46,000 tons of carbon dioxide. Over May, the Kazam platform powered 25 million electric kilometres across 80 cities and ten countries. Founded in 2020, Kazam provides device-agnostic solutions for charging and battery swapping operators, OEMs, and fleet operators.
Entrepreneur
18-06-2025
- Business
- Entrepreneur
Avaana Capital Draws First Tranche of GCF's USD 24.5 Mn Investment to Boost Deep Tech Innovation
This milestone is anchored by the Small Industries Development Bank of India (SIDBI), under the guidance of the Department of Financial Services (DFS). You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Avaana Capital, a sustainability-focused venture capital firm, has announced the first drawdown from the Green Climate Fund's (GCF) USD 24.5 million investment into the Avaana Sustainability Fund. This milestone is anchored by the Small Industries Development Bank of India (SIDBI), under the guidance of the Department of Financial Services (DFS). GCF, one of the world's largest climate-focused funds, supports developing nations in reducing greenhouse gas emissions and adapting to climate change. Anjali Bansal, Founding Partner at Avaana Capital, said, "We are honoured to partner with SIDBI and the GCF. As India moves toward its Viksit Bharat 2047 vision, accelerating deep tech innovation is both an opportunity and a necessity," she said. "This partnership represents the large economic opportunity for India's deep tech ecosystem—bringing together global capital to build solutions in energy, supply chains, advanced materials, and agriculture." SIDBI Chairman and Managing Director Manoj Mittal highlighted, "SIDBI is promoting sustainability among MSMEs by integrating green finance and supporting eco-friendly business practices. This milestone for Avaana Capital underscores a broader trend where India continues to position itself as a key player in addressing global challenges through technology and innovation." Founded in 2018, Avaana Capital backs startups using deep tech to deliver impactful solutions in energy, food and agriculture, supply chains, and advanced materials. Its portfolio includes companies like GreenGrahi, Eeki Foods, Turno, Dreamfly, Kazam, Eggoz, Farmart, Amperehour, and Aerem. With the support of SIDBI and GCF, Avaana Capital aims to catalyse India's transition to a resilient, future-ready economy through homegrown, cost-effective technologies designed for global impact.
United News of India
08-05-2025
- Business
- United News of India
Avaana Capital leads 1.2 million dollars seed round in High Time Foods
Bengaluru, May 8 (UNI) Avaana Capital, a venture capital fund backing deep-tech and frontier innovation, has led a USD 1.2 million seed round in High Time Foods, a food-tech startup offering cost-effective, shelf-stable plant-based protein solutions. Existing investors also participated in the round. The funding coincides with High Time Foods' official launch in India, where it aims to address the country's protein gap by building a climate-resilient, non-refrigerated, and versatile protein product line catering primarily to the institutional food sector. The Bengaluru-based startup had earlier secured a distribution deal with US-based Sysco, one of the world's largest foodservice providers, which it described as a significant global validation of its product innovation and operational efficiency. "With Avaana Capital backing us, my co-founder Damian and I are doubling down on our mission to deliver delicious and versatile plant-based protein to our B2B partners across India and beyond,' said Aakash Shah, Co-Founder and CEO, High Time Foods. "We're launching at a very affordable price point, and as we scale, we aim to be cheaper than conventional protein sources, including meat." The firm's offerings, designed for restaurants, hotels, caterers, institutions, and manufacturers, are intended to function as adaptable ingredients in diverse preparations, including Indian staples like samosas and kebabs. The company's early India operations include a partnership with Vasantha Bhavan, a 65-year-old restaurant chain with presence across Tamil Nadu and abroad. According to Avaana Capital's Investment Director Shruti Srivastava, 'High Time Foods is tackling one of the most urgent gaps in food systems today—affordable, scalable protein. Their shelf-stable innovation is built for real-world conditions, especially in markets where infrastructure can be a challenge.' Founded by MBA classmates Aakash Shah and Damian Felchlin, the company combines experience in foodservice, logistics, and international trade. Shah has previously co-founded a cloud kitchen venture and held leadership positions at Zomato, while Felchlin served as a Swiss Trade Commissioner in the United States. The fresh capital will be deployed for product development, hiring across R\\\\\\\\&D, culinary innovation and business operations, and expanding partnerships across India, the US, and emerging markets in the Global South. UNI BDN SSP
