Anthill Ventures and Third Derivative Invest INR 35 Mn in Renewable Energy Platform SafEarth
SafEarth, an Indian technology platform dedicated to promoting renewable energy adoption, has completed its latest funding round, raising INR 35 million.
Anthill Ventures, Third Derivative, and Mumbai Angels led the funding. This investment will fuel SafEarth’s product development efforts and allow the company to expand into new industrial regions throughout India.
SafEarth is a technology platform for the adoption of renewable energy, especially solar power. It helps businesses switch to renewable energy by removing the roadblocks in the process, such as finding the best vendors, financing options, and quality assurance.
It has completed over 100 industrial solar projects and has enabled the saving of over 300,000 tonnes of carbon emissions.
SafEarth has received recognition for its role in assisting industries in making large-scale transitions from thermal power to solar energy, thereby reducing carbon emissions.
With over 100 completed industrial solar projects and a total deployed capacity of 171 MW, SafEarth has successfully saved over 300,000 tonnes of CO2. Collaborations with well-known companies like Toyota Technopark, Everest Industries, Ather Energy, and Mondelez India resulted in significant cost savings of Rs 50 crore above industry averages during the solar energy transition. The platform has also generated over Rs 800 crores in business opportunities for solar installers.
SafEarth’s marketplace streamlines the clean energy procurement process for businesses, cutting time in half, cutting costs in half, and eliminating errors, resulting in project returns that are more than 20% higher.
The platform analyzes an industry’s electricity consumption patterns and designs optimal solar plants for energy optimization. SafEarth’s innovative technology stack offers effective solutions for a cleaner environment.
On December 20, 2021, SafEarth raised $500K in a non-equity assistance round from FTxSDG Challenge, a global competition that supports startups working on sustainable development goals.
On Oct 15, 2021, SafEarth partnered with Tata Power Solar, India’s largest integrated solar company, to offer end-to-end solutions for rooftop solar projects to its customers.
On Aug 10, 2021, SafEarth collaborated with CleanMax, India’s leading provider of renewable energy solutions for corporates, to facilitate the installation of a 1.5 MW rooftop solar plant at a manufacturing facility in Gujarat.