SustVest
Overview
SustVest is a sustainable investment platform based in Gurugram, India, specializing in fractional ownership of renewable energy projects such as solar and electric vehicle infrastructure. Founded in 2018 by Hardik Bhatia and Devansh Shah, both BITS Pilani alumni, the company aims to democratize access to renewable energy investments. SustVest has raised over $1.7 million, with significant funding from Inflection Point Ventures, Antler, and other notable investors, to support its expansion and operational growth.
Recent Developments
- December 2024: SustVest announced a $1.7 million Pre-Series A funding round. This funding, led by Inflection Point Ventures and Antler, aims to bolster the company's key business initiatives. These include acquiring new solar projects, expanding marketing efforts with the platform's launch, enhancing operations, and covering legal expenses. The funding mix involves equity and debt financing, aligning with SustVest's strategic growth plans and increasing its assets under management to over ₹43 crore.
- 2024: The platform now manages over 9.3 MW of solar installations, having distributed more than ₹5.7 crore in energy income while reducing over 94 lakh kilograms of carbon emissions. SustVest's client portfolio includes prominent organizations like Lodha Group, Hitachi, and government institutions such as CISF and CRPF.
- October 2024: SustVest continues to position itself as a leader in the alternative investment market, projecting to tap into India's $405.63 billion rooftop solar market. They aim to facilitate solar integration for India's 7.6 million MSMEs.
- Ongoing in 2023-2024: The company has expanded its investor base significantly, boasting over 45,000 registered investors by late 2024. The strategic partnerships and client acquisitions have further solidified their market presence.
- 2022 - 2023: SustVest witnessed substantial growth after raising $160,000 in 2022 and launching its regulated investment platform. Their approach to offering fractional ownership in clean energy projects has made this asset class accessible to a broader audience, thus driving the democratization of renewable energy investments.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2018 |
| Headquarters | Gurugram, Haryana, India |
| Founders | Hardik Bhatia, Devansh Shah, Prashanth Konda |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | Inflection Point Ventures, Antler, WEH Ventures, Venture Catalysts |
| Industry | Financial Services - Renewable Energy Investments |
| Number of Employees | Approximately 12 - 14 |
| Major Products/Services | Fractional ownership in renewable energy projects |
Early History
SustVest was conceptualized to address the high entry barriers limiting access to renewable energy investments. Co-founders Hardik Bhatia and Devansh Shah, leveraging their fintech expertise, established the platform in 2018 under the name SolarGridX. Their vision was to utilize innovative financial models to facilitate investments in solar projects, making them accessible to the average investor. Initial traction was gained through small-scale solar installations and partnerships with major industrial consumers, paving the way for future expansions.
Company Profile and Achievements
SustVest operates by offering fractional ownership in renewable energy projects, primarily through solar. This model allows investors to earn returns from projects installed for commercial and industrial consumers at significantly lower tariffs than traditional sources. Over the years, the company has significantly contributed to India's renewable sector by providing fixed-income opportunities that combine financial returns with environmental impact. Key milestones include:
- Launch of their web platform in April 2022, which accelerated user acquisition and engagement.
- Expansion into diverse asset classes such as greenhouses and small hydro projects, alongside traditional solar investments.
- Achievement of over ₹43 crore in assets under management and distribution of substantial energy income to investors, proving the viability of clean energy as a profitable venture.
Current Operations and Market Position
SustVest stands at the forefront of sustainable investments in India, focusing on enabling clean energy adoption across commercial sectors. By facilitating fractional ownership, SustVest aids businesses in transitioning to renewable sources without upfront costs, thus driving substantial savings on electricity expenditures. Their strategic initiatives, supported by robust financial backing, position the company strongly within the growing renewable energy landscape, set to contribute significantly to the projected $11.8 billion alternative investment market in India.
Conclusion
SustVest has emerged as a pivotal player in India's renewable energy investment sector. By breaking down financial barriers, it has democratized access to sustainable investments, aligning investor interests with environmental goals. With continuous innovation and strategic funding, SustVest is poised to further its impact in the clean energy domain, driving socioeconomic benefits while contributing to India's renewable energy targets.