BiofuelCircle secures funding of $0.75 million in a seed round led by Spectrum Impact and others

• ByStartupStory     |    June 28, 2022

BiofuelCircle, an online marketplace for biomass and biofuels, has received $0.75 million in investment from Spectrum Impact, Better Capital, Dr Shridhar Shukla, and other investors in its second round of seed funding. The firm has so far garnered $1.75 million in investment since it was founded.

Launched in July 2021, BiofuelCircle is a digital platform for green fuel with operations in Maharashtra, Gujarat, and Tamil Nadu. It is situated in Pune. The business has created a three-way online marketplace that links customers, sellers, and companies that offer supply chain services like warehousing and shipping. By boosting economic value, renewable energy, and employment prospects, the firm is also aiming to empower rural communities.

By the end of this year, according to Suhas Baxi, Co-Founder and CEO of BiofuelCircle, the business hopes to commence operations in North India and extend its digital toolbox. Over 50 biomass-based goods are being supported by its digital platform, which has over 400 active members.

The Pune, India-based BiofuelCircle Private Limited, which was established in June 2020, is listed as a start-up with the Start-up-India initiative. Building a dependable and affordable bioenergy supply chain was the primary impetus for the founding of BiofuelCircle.

The first and only online marketplace in India created specifically for biomass and biofuels is called BiofuelCircle. The stakeholders in the bioenergy supply chain in various regions of India now have a dependable, cutting-edge digital platform and a well-organized physical environment thanks to this ground-breaking idea.

By opening up new doors in the Farm-to-Fuel ecosystem, enabling a circular economy for agro-waste, fostering rural empowerment, and lowering carbon footprint, BiofuelCircle is assisting businesses in growing.

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