Biotech startup Farm Watt has raised ₹32.5 crore ($3.3 million) in a funding round co-led by India Angel Networks’ VC fund IAN Alpha Fund and Zerodha’s Rainmatter, the company confirmed. Founded in 2023 and based in Delhi NCR, Farm Watt converts agricultural waste into clean energy and plans to use the funds to expand its biomass collection network by building new aggregation hubs across rural India, according to inc42.com.
Farm Watt operates biomass aggregation hubs that purchase crop residue from farmers and process it into products such as compressed biogas (CBG), biochar, and biomass pellets. The startup will use the fresh capital to develop machinery, strengthen its supply chain, and hire new talent. Founder Kumar Neelendu, who has over 23 years of experience in rural development and renewable energy, aims to expand operations across 11 states including Punjab, Haryana, Uttar Pradesh, Maharashtra, and Tamil Nadu, inc42.com reported.
The startup’s business model addresses crop residue waste by supplying it to CBG plants that generate localized renewable energy. Its biochar product also enhances soil health and supports eco-friendly farming. Farm Watt plans to build its own CBG, bio-pellet, and biochar plants to develop a fully integrated circular bioeconomy platform. The funding round reflects growing investor interest in sustainable energy solutions in India’s agricultural sector, inc42.com noted.
Farm Watt intends to use the ₹32.5 crore funding to scale its biomass collection network and infrastructure, with a focus on expanding into multiple Indian states and advancing its clean energy production capabilities, according to inc42.com.