Infuse Ventures, India’s sustainability and clean technology fund backed by IIM Ahmedabad’s technology business incubator CIIE (Centre for Innovation Incubation and Entrepreneurship) has announced an undisclosed amount of investment in Glowship.com. Glowship is an online marketplace platform for energy and environment related products, solutions & services.
Launched in 2015, the Glowship marketplace platform aims to provide consumers an access to a wide range of products and solutions in the energy and environment category.
Besides Infuse ventures, the current round of funding has also seen participation from professionals in the clean energy sector. Srinivas Potukuchi, founder of Glowship, alumnus of IIT Madras and Stanford Graduate School of Business said that, “The funding will be used to expand the team, build out the technology platform and expand into other geographies. We are excited about the association with Infuse ventures as it validates the need for a scalable go-to-market channel that enables access to both existing and future innovative products and solutions that will be launched in this sector.”
IIMA-CIIE’s fund Infuse has been investing actively in the cleantech sector and its investments includes energy-management startup Ecolibrium Energy, Geothermal HVAC focussed startup GIBSS, thermal-energy storage startup Tessol, renewable energy services startup REConnect and solar-pumping startup SuryaPowerMagic among others.