Pi Green Innovations raises over $4.5 million in Series A funding

Pune: Cleantech company Pi Green Innovations said that it has secured over $4.5 million in Series A funding. The round was led by the Investment Fund of Opus Consulting with a total of $4.3 million. The round also saw participation from other strategic investors. It had earlier raised $300,000 in seed funding from Harshal Morde, director, Morde Foods.

According to a recent report by Dalberg Advisors in partnership with Clean Air Fund and the Confederation of Indian Industry (CII), the economic cost of air pollution is about $95 billion in India. “The problem is not only air pollution, but also the sustainability of existing solutions. Thus, with our filterless technology, we have a huge opportunity to develop and implement solutions for the reduction of particulate matter (PM) emissions on a sustainable basis. With patents in over 30 countries including USA, UK, China and EU, our technology is ‘Made in India’ for the global market. We are grateful to our investors for their confidence in our mission,” said Irfan Pathan, Co-founder and CEO, Pi Green.

The company will use the funds to develop a full-fledged R&D centre for product development and testing, product certification, and in developing new solutions to counter various sources of emissions. It will also invest in increasing its manufacturing capabilities, and in building a pan-India sales network. The company is also exploring opportunities in international markets.

“Opus’ philosophy is to invest in innovative solutions and products, with Pi Green being the latest and very exciting addition to the list. It is a Make in India and a Made in India solution within the engineering and manufacturing industry. Pi Green has a lot of potential to showcase India as a pioneer in clean air technology,” said Ramesh Mengawade, Founder – Opus Consulting.

Pi Green leverages new-age technologies towards developing low maintenance and cost effective solutions for the reduction of particulate matter emissions (PM 2.5/10) at source and from the ambient air. Pi Green was advised by JCSS Consulting.

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