Two Point O Raises $10 Million Led by Transition VC
The clean energy financing platform closed a Series A led by Transition Venture Capital, with Omnivore joining.
Key Takeaways
- Two Point O Capital raised $10 million (about Rs 95 crore) in a Series A round.
- Transition Venture Capital led the round, and existing investor Omnivore took part.
- The company finances rooftop solar, battery storage, energy efficiency and wastewater projects.
- It has around 25 to 30 large customers, including Godrej, Wipro and Phoenix Mills.
- The company was founded in 2024 and raised a $6.3 million seed round that September.
Table of Contents 8 sections
Two Point O Capital, a clean energy financing platform, has raised $10 million (about Rs 95 crore) in a Series A round led by Transition Venture Capital. Existing investor Omnivore and two angel investors also joined the round.
The angel investors are Chiranjeev Singh Saluja and Sudhir M Reddy. The company finances and deploys clean energy assets for commercial and industrial customers in India.
Two Point O funding at a glance
| Detail | Two Point O |
|---|---|
| Amount | $10 million (about Rs 95 crore) |
| Round | Series A |
| Lead investor | Transition Venture Capital |
| Other investors | Omnivore (existing investor), Chiranjeev Singh Saluja and Sudhir M Reddy (angel investors) |
| Sector | Clean energy financing for commercial and industrial customers |
What Two Point O does
Two Point O Capital finances clean energy projects for commercial and industrial customers. The projects it works on include rooftop solar, battery energy storage systems, energy efficiency and wastewater treatment.
A wholly owned NBFC subsidiary disburses its loans. Its underwriting engine gives a customer a techno-commercial proposal within 24 to 48 hours, and every asset it deploys is IoT-enabled.
Who Two Point O already serves
The company has around 25 to 30 large customers, including Premier Energies, Godrej, JK Tyre, Morepen Pharma, Wipro and Phoenix Mills. Its assets under management have grown 1.5 times from one quarter to the next in each of the last three quarters.
Two Point O's journey so far
| When | Milestone |
|---|---|
| 2024 | Founded by Karan Bhutani, Archit Mehrotra, Manya Ranjan and Shashidhar Reddy |
| September 2024 | Raised a $6.3 million seed round led by Omnivore |
| November 2026 | Raised a $10 million Series A led by Transition Venture Capital |
Karan Bhutani on the gap in funding for distributed clean energy
Co-founder and CEO Karan Bhutani told Inc42 about the gap the company was set up to fill.
"There was a lot of capital that was getting pumped into utility-scale, grid-scale projects."
Where Two Point O stands after its Series A
Two Point O Capital, founded in 2024, has now raised a $10 million Series A after its $6.3 million seed round in September 2024. It has around 25 to 30 large customers, including Premier Energies, Godrej and Wipro. Bhutani estimates that this existing customer base could generate Rs 400 crore to Rs 500 crore in transactions over the next two to three years.
More funding news
Frequently Asked Questions
How much did Two Point O raise?
Who led Two Point O's Series A round?
What does Two Point O do?
Who founded Two Point O?
How many founders does Two Point O have?
Which other investors joined the Two Point O round?
How much was Two Point O's seed round?
How fast does Two Point O assess a project?
How many customers does Two Point O have?
When was Two Point O founded?
Which clean energy projects does Two Point O finance?
What is the structure of Two Point O's lending business?
More in Funding
Dispatch Network Raises Rs 5 Crore Led by Antler India
Pune-based delivery startup Dispatch Network has raised Rs 5 crore in a pre-seed round led by Antler India.
Hyeglo Beauty Raises Rs 7 Crore in Seed Round Led by Sauce
Delhi makeup brand Hyeglo Beauty has raised Rs 7 crore in a seed round led by Sauce.
Qiroko Raises Rs 1.5 Crore in Pre-Seed Round Led by ISV Capital
Fashion accessories brand Qiroko has raised Rs 1.5 crore in a round led by ISV Capital.