Kerala Startup Mission invests Rs 15 Cr in energy transition VC firm

The Kerala Startup Mission (KSUM) has invested Rs 15 crore in Transition VC, India's first venture capital fund focused on energy transition, as part of the state’s broader push towards energy independence and sustainability.

The investment aims to accelerate the development of startups in clean energy and decarbonisation, aligning with Kerala's ambitious goals of achieving 100% renewable energy by 2040 and net carbon neutrality by 2050.

The partnership between KSUM and Transition VC will offer both financial support and mentorship to deep-tech startups working on energy transition solutions, said KSUM, in a statement. It will also provide these startups access to global networks and expertise through Transition VC.

Raiyaan Shingati, Co-founder and Managing Partner of Transition VC, highlighted the significance of the partnership.

"This INR 15 crore investment is a major step towards accelerating Kerala’s energy transition. We are confident that this collaboration will drive innovation and position Kerala as a leader in renewable energy adoption," said Shingati.

KSUM CEO Anoop P Ambika said that the investment is a vital part of Kerala’s sustainability strategy, emphasising the role of financial and strategic support for both local and national energy transition startups.

Kerala has made substantial strides in its sustainability efforts, demonstrated by its upcoming hydrogen valley projects in Kochi and Thiruvananthapuram, as well as its plans to expand solar and wind energy projects, the statement noted. These initiatives align with Transition VC's aim to reduce 40 million tonnes of carbon emissions through targeted investments in the energy transition sector.

The collaboration with Transition VC aims to leverage Kerala's natural assets, such as its tropical climate and extensive coastline, to explore hydrogen production and promote clean energy initiatives across industries, the companies stated in the release.