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Entrepreneurship Studio

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climatetech

The image shows a woman smiling, with short black hair, wearing a black sari with a gold border. In the background is a graphic design of trees, a lightbulb with a green leaf inside, and the logo "AVAANA."

Avaana Capital's $135 Million Fund to Boost Climate Tech Startups in India

By
Entrepreneurship Studio

Avaana Capital has closed its $135 million Climate and Sustainability Fund to invest in early-stage startups developing innovative climate solutions. The fund focuses on three critical areas contributing to 90% of India’s carbon emissions: energy and resource management, mobility and supply chains, and sustainable agriculture. With backing from global investors like the Green Climate Fund, Avaana seeks to accelerate India's transition to a net-zero economy by 2070, supporting scalable climate technologies in India and beyond.

ArcelorMittal logo with a stylized globe featuring digital grid patterns on a gray background.

ArcelorMittal Unveils First Winners of XCarb® India Accelerator

By
Anurag Trivedi

ArcelorMittal announced the winners of its inaugural XCarb® India Accelerator Programme, selecting three startups for their climate technologies. Launched with IIT Madras, the programme received over 50 applications. The winners, UrjanovaC, AgroMorph Technosolutions, and Susstains Engineering Solutions, will each receive USD 50,000 and mentorship. UrjanovaC focuses on CCUS technology, AgroMorph Technosolutions creates algae-based CCUS systems, and Susstains offers biochar as a coal replacement for the steel industry. Irina Gorbounova, Head of the XCarb® Innovation Fund, praised the startups for their decarbonization potential. The programme supports ArcelorMittal’s climate goals and India's startup ecosystem. Winners expressed gratitude for advancing their technologies and business models. UrjanovaC’s CO2 management technology, AgroMorph’s algae-based solutions, and Susstains’ biochar production show promise in tackling carbon emissions in the steel industry.