SustVest Secures $250K Funding Round Led by WEH Ventures

• ByStartupStory     |    November 29, 2023

SustVest, an investment platform specializing in renewable energy projects, has successfully raised $250,000 in a funding round led by WEH Ventures. Building on its previous funding of $160,000 and a grant of Rs 30 lakhs from the Ministry of Electronics and IT’s TIDE 2.0 scale-up program, the Gurugram-based company has garnered additional support through this latest round. SustVest has also benefited from acceleration by Gruhas, DLF Family office, and Anthill Ventures.

The newly acquired funds are earmarked for expanding SustVest’s user base, according to a press release from the company. Founded in 2022 by Hardik Bhatia and Devansh Shah, SustVest distinguishes itself by allowing users to acquire fractional ownership in renewable energy projects, such as solar initiatives, with a minimum investment of Rs 25,000. This sets it apart from platforms requiring significantly higher investments, up to Rs 1 crore, for commercial solar projects.

SustVest reports substantial success, having sold Rs 20 crore worth of solar projects and generated Rs 1 crore in energy income for its growing user base. With a registered investor base exceeding 45,000, the platform has gained the trust of enterprises like Subros, Macrotech Developers (Lodha Group), and Mahle Anand Filter Systems, which have entrusted their solar projects to the platform.

Looking ahead, SustVest sets an ambitious target of achieving Rs 100 crores in Asset Under Management (AUM) within the next six to twelve months. WEH Ventures, serving as the lead investor in this funding round, is a sector-agnostic early-stage venture fund that has previously backed various category-leading companies, including smallcase, Jar, Masterchow, AppsForBharat, and Pratilipi. As SustVest continues to make strides in the renewable energy investment landscape, the partnership with WEH Ventures is expected to further propel its growth trajectory.

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