Gurugram-based SustVest, a sustainable investment platform, has raised $160K from angel Investors. The funding was led by Paurush Sonkar, Founder & CEO, Stallions Capital, Balaji Vaidyanathan, and Sandeep Shetty, Seasoned Early stage investors.
The investment will be utilized for product development; marketing and enhancing the brand in the market in the Indian region.
Founded in 2018 by Hardik Bhatia, SustVest is a sustainable investment platform that allows individuals or companies to invest in renewable energy assets such as rooftop solar or EV charging points, starting with as low a figure as Rs 5,000.
According to SustVest, renewable energy assets generate up to 15% IRR per year for its investors, who hold digital ownership of these assets while these are leased to consumers in return for a monthly rental. The rental income is distributed proportionally among investors.
SustVest provides access to pre-vetted deals and brings 1000s of investors together to fund a project which is leased to electricity consumers who pay monthly installments to use the electricity generated. SustVest said that it already has $3 Million worth of clean energy projects in the pipeline and over 800 investors have signed up.