2 days ago
Avaana Capital Draws First Tranche of GCF's USD 24.5 Mn Investment to Boost Deep Tech Innovation
This milestone is anchored by the Small Industries Development Bank of India (SIDBI), under the guidance of the Department of Financial Services (DFS).
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Avaana Capital, a sustainability-focused venture capital firm, has announced the first drawdown from the Green Climate Fund's (GCF) USD 24.5 million investment into the Avaana Sustainability Fund.
This milestone is anchored by the Small Industries Development Bank of India (SIDBI), under the guidance of the Department of Financial Services (DFS).
GCF, one of the world's largest climate-focused funds, supports developing nations in reducing greenhouse gas emissions and adapting to climate change.
Anjali Bansal, Founding Partner at Avaana Capital, said, "We are honoured to partner with SIDBI and the GCF. As India moves toward its Viksit Bharat 2047 vision, accelerating deep tech innovation is both an opportunity and a necessity," she said. "This partnership represents the large economic opportunity for India's deep tech ecosystem—bringing together global capital to build solutions in energy, supply chains, advanced materials, and agriculture."
SIDBI Chairman and Managing Director Manoj Mittal highlighted, "SIDBI is promoting sustainability among MSMEs by integrating green finance and supporting eco-friendly business practices. This milestone for Avaana Capital underscores a broader trend where India continues to position itself as a key player in addressing global challenges through technology and innovation."
Founded in 2018, Avaana Capital backs startups using deep tech to deliver impactful solutions in energy, food and agriculture, supply chains, and advanced materials. Its portfolio includes companies like GreenGrahi, Eeki Foods, Turno, Dreamfly, Kazam, Eggoz, Farmart, Amperehour, and Aerem.
With the support of SIDBI and GCF, Avaana Capital aims to catalyse India's transition to a resilient, future-ready economy through homegrown, cost-effective technologies designed for global impact.
