Innovations across sectors continue to attract investments as technology acts as an enabler leading to $99 million garnered between October to November 2023, across 18 deals.

While August to September recorded deals close to almost $137 million, it was propelled largely by one deal - $109 million in Ather Energy, an established brand in the EV segment. What stands out in the last two months is the uptrend in the number and nature of enterprises raising investments upwards of $10 million.

This includes enterprises namely, Emotorad (manufacturer of e-bikes), Euler Motors (manufacturer of electric three-wheelers),PMI Electro Mobility Solutions (electric buses) and Fibmold (sustainable packaging) have all raised high ticket deals (greater than $10 million). Excluding Fibold, the other three have raised Series B/Later Stages funding demonstrating the uptrend in growth capital.

While previous months have largely seen EV OEMs taking the larger pie of investment value, we now see innovations across waste management, electric vehicle charging solutions and digital analytics tracking sustainability, raising investments.

Within sustainable mobility, increasing investments are now seen towards electric cargo vehicles, buses and supporting battery charging solutions. This indicates a gradual progression towards electrification of transport across all forms of vehicles, as against earlier trends that were largely concentrated on EV 2W & 3W OEMs. PMI Electro Mobility Solutions, which has electric buses, raised the highest investment of this time period - $ 30 million.

The waste management & circular economy that has over the years seen recycling and waste processing solutions is now witnessing investments towards innovations including sustainable packaging to waste tracking and management. Blubirch with its reverse logistics B2B platform is leveraging technology to facilitate buying and selling of returned, excess and pre-owned inventory, thus recapturing value from returned items while minimizing waste.

We also observe enterprises that enable the growth and consolidation of climate focussed solutions, raising funding. SustVest enables investing in renewable energy assets, BuckMint has a decentralized exchange for transparent trading of verified carbon credits while Olive Gaea helps enterprises measure, reduce and abate their carbon emissions.