Climate-focused agribusiness startup Farm Watt Innovations has raised Rs 32.5 crore ($3.36 million) in a funding round co-led by IAN Alpha Fund and Rainmatter. The fresh capital will be used to strengthen its biomass supply chain, expand its biomass collection network, build additional aggregation hubs, invest in machinery and grow its workforce. Founded in 2023 by Kumar Neelendu, Farm Watt Innovations aggregates and supplies agricultural biomass to compressed biogas (CBG) plants and other bioenergy facilities. The startup aims to address crop residue burning by converting agricultural waste into feedstock for renewable energy projects. The company currently operates 15 biomass aggregation hubs across six states and plans to expand its presence to Punjab, Haryana, Uttar Pradesh, Madhya Pradesh, Rajasthan, Chhattisgarh, Maharashtra, Andhra Pradesh, Telangana, Tamil Nadu and Bihar. The startup said it plans to develop its own portfolio of CBG, bio-pellet and biochar plants as it expands its presence in India's bioenergy ecosystem. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
