Hyderabad Angels is investing Rs 2 crore in a series A investment in Green India Building Systems and Services Pvt Ltd (Green India Building), an energy efficiency products and solutions company. The funding is led by serial entrepreneur Sashi Reddi, who has recently sold AppLabs Technologies to NYSE-listed Computer Sciences Corporation (CSC).
Green India addresses the demand-and-supply gap with energy-efficient geothermal, hot water cogeneration and lighting systems, which help buildings reduce operational costs by 60-80 per cent. Green India makes its products viable for consumers by using zero initial investment, pay from savings model and performance bank guarantees.
“We have generated savings of over 5 million electrical units in buildings across India, reduced 75 million litres of water usage and 6,000 tonnes of carbon footprint. We look forward to creating larger, positive and triple bottomline impact through wider reach and innovative solutions that address all customer pain points,†said Arun Shenoy, Co-founder of GIBSS and vice-president – sales and marketing.
“As strong proponents of environmental-friendly practices, we have learnt that there are absolutely no shortcuts to sustainable development. A comprehensive approach by integrating social, environmental and economic dimensions delivers huge operating savings in the range of 60-70 per cent to the customer,†said Mandar Kaprekar, Co-founder of GIBSS and vice-president (technology).
“Green India Building is the leader in green building systems, with its USP of pay-from-savings model. Coupled with the low payback periods, GIBSS’s state-of-the-art disruptive technologies have a huge market potential. We will be helping GIBSS monetarily, along with continuous mentoring for disproportionate business growth,†said Sashi Reddi, founder of SRI Capital Fund and the lead investor from the Hyderabad Angels Network.
