Blue Planet has received a $35-million investment from The Investment Fund for Developing Countries (IFU); Hero MotoCorp has increased its stake in Ather Energy; while Farmley has raised $6.7 million in a pre-Series B round.
Denmark govt-backed IFU invests in Blue Planet
Sustainable waste management company Blue Planet Environmental Solutions has received a $35-million investment from The Investment Fund for Developing Countries (IFU), a development financial institution owned by the government of Denmark.
IFU will be investing on behalf of the SDG Fund, which is partly funded by public funding, providing catalytic risk mitigations to mobilise private capital. This gives access to Danish pension funds to invest in sustainable investments in developing countries.
“Currently, India generates around 62 million tonnes of waste annually, of which only 12 MT are being treated before disposal. With waste volumes estimated to more than double towards 2030, investments into innovative technologies and operations are needed,” said Thomas Hougaard, senior vice president at IFU.
The funds from IFU will further boost Blue Planet’s capabilities in two key areas in India – landfill reclamation and e-waste recycling.
Hero MotoCorp hikes stake in Ather to 39.7%
Hero MotoCorp has increased its stake in Indian electric two-wheeler manufacturer Ather Energy, according to The Economic Times.
Hero MotoCorp has purchased additional shares worth Rs 140 crore, increasing its to 39.7% from 36.7%, added the report.
The company invested an additional Rs. 550 crore in Atherin September this year.
Ather has reportedly been looking to raise a funding round before its IPO in 2024. Reports suggest that the company is seeking a primary infusion of about $250 million, at a post-money valuation of $1.3 billion.
Ather has raised $341 million over the years from investors including Tiger Global, Caladium Investments, and Herald Ventures, per Crunchbase data.
Jindal Group leads Farmley’s pre-Series B round
Farmley, a dry fruit, nuts, and seeds snacking startup, has raised $6.7 million in a pre-Series B round led by Indian business conglomerate Jindal Group’s investing arm, reported Entrackr.
Existing investors including Singapore-based DSG Consumer Partners, Mumbai-based Omnivore, and health and wellness-focused investor Alkemi Partners participated in the funding. The startup plans to use the funding to increase its offline presence, added the report.
Founded in 2017 by Akash Sharma and Abhishek Agrawal, Farmley is a direct-from-farm Indian brand delivering nuts and exotic berries.