Pune-headquartered vitality distribution firm Repos Energy has raised Rs 56 crore in pre-Series A spherical (mixture of fairness and debt) from current investor Ratan Tata, chairman Emeritus, Tata Sons and others.
The firm says the funds will likely be used to increase product line, enter new markets in India, increase workforce, and strengthen its expertise. It is now engaged on bringing renewable energies equivalent to ethanol, methanol and biofuels on its cell distribution community. The funds may even enable the startup to put money into the most recent applied sciences equivalent to IoT, AI, and blockchain to make the vitality distribution system seamless in future.
Ratan Tata stated, “Repos is a well-conceived project with good execution. I wish them all the success.”
Aditi Bhosale Walunj, founder, Repos Energy stated, “The world is moving towards a carbon-neutral future, and Repos Energy is working towards this goal by bridging the gap between the supply and demand of fuels. Our ultimate goal is to make all clean fuels available at a single click of the phone and bring it to the doorstep of our customers through an e-commerce platform. Currently, India’s infrastructure is heavily dependent on diesel, and it is our responsibility to use it sustainably. We will use this distribution network to bring clean and green fuels to the end-users in the near future.”
Chetan Walunj, Founder, Repos Energy stated, “The concept of mobile energy distribution has been supported by the PMO, Ministry of Petroleum & Natural Gas, PESO, OMCs, and OEMs (automobile manufacturers). And we want to thank everyone including our partners, and customers who have backed us in our journey of turning our dream of revolutionising the energy sector into a reality.”
Aparajit Subramanian, Co-founder, Repos Energy, “This fundraise will help us achieve our dream of making energy reach the last-mile across the globe.”
Source: www.financialexpress.com”