SafEarth Secures INR 3.5 Crore in Funding Led by Anthill Ventures to Drive Renewable Energy Adoption

• ByStartupStory     |    June 22, 2023

SafEarth, a technology platform dedicated to promoting the adoption of renewable energy, announced on Wednesday that it has successfully raised INR 3.5 crore in a funding round led by Anthill Ventures. The round also saw participation from Third Derivative and Mumbai Angels.

The newly secured capital infusion will serve as a catalyst for SafEarth’s product development initiatives and enable the company to expand its presence in new industrial belts across India. SafEarth’s primary focus is on helping industries reduce their carbon emissions by facilitating the transition from thermal power to solar energy on a large scale.

With over 100 completed industrial solar projects and a deployed capacity of 171 megawatts, SafEarth has already made a significant impact by saving 300,000 tonnes of carbon emissions. The company’s platform has also generated business worth over INR 800 crore for solar installers, demonstrating the substantial growth of the renewable energy market. SafEarth boasts an impressive client portfolio that includes renowned names such as Toyota Technopark, Everest Industries, Ather Energy, and Mondelez India.

SafEarth’s marketplace plays a crucial role in streamlining the clean energy procurement process for industries, enabling them to reduce both time and cost. In addition, the company’s project management automation tool, Solar Flow, facilitates efficient implementation, quality assurance, and electricity consumption monitoring, among other applications.

Co-founder Harshit Poddar expressed his enthusiasm about SafEarth’s mission, stating, “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.”

As a testament to its success, SafEarth currently holds a market share of 6.67% in the commercial and industrial (C&I) rooftop solar segment and 5% in India’s overall distributed solar market. The company’s mid-term goal is to facilitate the reduction of one million tonnes of annual carbon emissions through the implementation of over 1 gigawatt of solar projects within the next two years.

Sailesh Sigatapu, Partner at Anthill Ventures, congratulated SafEarth on its remarkable journey, stating, “We are delighted to witness SafEarth’s tremendous growth and impact. SafEarth’s selection as our first cohort of the Gruhas ASPIRE program underscores the significance of our accelerator program in nurturing and supporting groundbreaking startups.”

Gruhas ASPIRE is a property-tech-focused accelerator program led by Anthill Ventures, aimed at fostering innovation and supporting promising startups in the renewable energy and sustainable solutions sector.

The recent funding round marks a significant milestone for SafEarth, positioning the company for further growth and enabling it to continue playing a pivotal role in driving the adoption of renewable energy and reducing carbon emissions in the industrial sector.

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