Surat based bioenergy player Biofics Private Limited has successfully secured Rs 10.4 crore in a Pre-Series A funding round. Biofics claims to be a leader in Bio-CNG Plant Engineering, Procurement, and Construction (EPC) and decentralized waste management solutions. This funding round was spearheaded by renowned investor Gunavanth Vaid, with additional backing from Upaya Social Ventures.
Biofics held that the newly acquired funds will be strategically utilized to scale operations, enhance technology, and broaden its market presence. The company plans to develop cutting-edge Bio-CBG plants, invest in research and development, and generate more green jobs in the bioenergy and solid waste management sectors.
Renowned investor Gunavanth Vaid said, “Biofics Private Limited is at the forefront of sustainable energy solutions. Their expertise in Bio-CBG technology not only addresses environmental challenges but also brings economic benefits. I am thrilled to be part of their journey and look forward to witnessing the remarkable impact they will continue to make in the industry.”
Biofics Private Limited has established itself as a leader in waste management and bioenergy, diverting 100 million tonnes of waste from landfills through innovative solutions.
Today it has more than 500 projects installed across India and a current order book nearing Rs 500 crore; the company is well-positioned for substantial growth in the renewable energy market.
Sunil Mahapatra and Vikas Mishra, promoters of Biofics Private Limited, expressed their enthusiasm about the successful funding round, stating, “We are honored to have the support of Gunavanth Vaid and Upaya Social Ventures at this pivotal stage of our growth. This investment marks a significant milestone in our journey to revolutionize the bioenergy and solid waste management sectors. With this backing, we are poised to accelerate our growth, advance technological innovations, and expand our footprint in the renewable energy market.”
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