India, Nov. 11 -- Update | November 11, 17:18 IST

Months after Inc42 exclusively reported on Greenjoules's fundraise, the cleantech startup announced the closure of its Series B round at Rs.150 Cr ($16 Mn). The round was co-led by Amazon's Smbhav Venture Fund and Climate Pledge Fund, with participation from Rainmatter and Singularity's Strategic Autonomy Fund.

The startup said that the fresh funds will support its new plant at Pune's Khed City with the capacity to produce 2 Lakh litres of biocrude a day from agricultural waste. The facility will be developed in phases from 2027, which is expected to be the largest of its kind in India.

Additionally, Greenjoules also secured a Rs.100 Cr debt from Technology Development Board (TDB), unde...