Online marketplace for biomass and biofuels, BiofuelCircle has raised USD 0.75 million (around Rs 6 crore) in a funding round led by Spectrum Impact, Better Capital and others. This is the company's second round of seed funding, BiofuelCircle said in a statement. Launched in July 2021, BiofuelCircle is a Pune-based digital platform for green fuels, creating a farm-to-fuel ecosystem and operates in Maharashtra, Gujarat and Tamil Nadu.
According to the statement, the funding was co-led by Spectrum Impact, Better Capital, Shridhar Shukla and others. BiofuelCircle started as a bootstrapped company and has raised USD 1.75 million since inception. Co-founder and CEO Suhas Baxi said the company aims to widen its digital toolkit and launch operations in North India by the end of this year. BiofuelCircle's digital platform serves over 400 active members, and has over 50 biomass-based products.
(PTI)
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