Clean-tech firm Carbon Clean Solutions Ltd on Monday said it has raised $16 million (Rs 114.2 crore) in a new funding round from three global investors nearly a decade after it had received its first venture capital cheque from Blume Ventures.
Carbon Clean Solutions said in a statement it has raised fresh capital from US-based WAVE Equity Partners and Chevron Technology Ventures, and Japan-based Marubeni Corporation.
The company, which is headquartered in London with offices in India and the US, will use the funds to deliver a pipeline of global projects, among other things.
Carbon Clean Solutions was founded by Aniruddha Sharma and Prateek Bumb in 2009. The company provides low-cost carbon dioxide separation technology for industrial and gas-treating applications.
The firm had raised its first institutional cheque from Blume Ventures in 2011. The early-stage venture capital company still remains invested in the clean-tech firm.
In January, Native Angels Network, launched by Tamil Nadu-based Nativelead, led an investment in Carbon Masters, a Bengaluru-based renewable energy startup.
Last year, Log 9 Materials Scientific Pvt. Ltd raised $3.5 million in its Series A funding round from Sequoia India's scale-up program Surge as well as Exfinity Venture Partners. The startup is looking to accelerate the development of products for both electric vehicles and stationary applications.
Singapore-based waste management company Blue Planet Environmental Solutions Pte. Ltd acquired Pune-based waste-processing firm Xeon Waste Managers LLP last year.