SustVest, a Gurugram-based sustainable investment platform, raised $1.7 million in a pre-series A round led by Inflection Point Ventures and Antler.

This round also saw participation from WEH ventures, Venture Catalysts, Soonicorn Ventures, and FAAD Network.

SustVest aims to use these funds to acquire solar projects, cover marketing expenses with the launch of the company’s regulated platform, manage operations, and cover legal costs.

The company plans to develop a gateway for engineering, procurement, and construction services providers to access finance under the ‘operating expenditures’ model and bridge critical ecosystem gaps.

SustVest offers investors fixed-income opportunities while having a positive environmental impact. The company aims to provide commercial and industrial consumers access to solar projects at up to 50% lower tariffs.

The company claims its platform has over $5.05 million in assets under management with 9.3 MW of solar installations, distributing over $669,631 in energy income and saving over 9.4 million kg of carbon emissions.

The company serves global investors with projects spanning key locations in India, including in Maharashtra and Himachal Pradesh.

In 2022, SustVest raised $160,000 from angel investors to enhance its presence in India’s clean energy market. The funding round was led by early-stage investors Paurush Sonkar of Stallions Capital, Balaji Vaidyanathan, and Sandeep Shetty.

According to Mercom’s Q3 2024 India Solar Market Update report, India witnessed a 42.85% year-over-year increase in solar funding with the securing a cumulative $2 billion compared to $1.4 billion in 2023.

Global energy investment in 2024 is projected to exceed $3 trillion, with $2 trillion dedicated to clean energy technologies and infrastructure, according to the World Energy Investment 2024 report by the International Energy Agency. This reflects a surge in clean energy investment since 2020, driven by advancements in renewable power, grids, and storage.