KSUM Invests Rs 15 Cr in Transition VC to boost energy transition goals

Transition VC, an energy transition-focused venture capital fund, has forged a strategic partnership with the Kerala Startup Mission (KSUM) to enhance the development of startups in the clean energy and decarbonization sectors. The Kerala state government, through KSUM, has also invested Rs 15 crore in Transition VC.

The collaboration will support local as well as national deep-tech energy transition startups through financial backing, strategic guidance, and access to Transition VC’s deep domain experts, according to a press release.

The Kerala government aims to promote energy transition by setting a target of becoming a 100% renewable energy-based state by 2040 and achieving net carbon neutrality by 2050. The state claims to have established robust support systems, such as Maker Village, fab labs, IoT labs, and an MSME cluster spread across the state, providing advanced facilities for startups in the energy transition space.

This partnership will leverage Kerala's strong institutional ties with research hubs, offering crucial support for scaling deep-tech businesses. It aims to harness Kerala's natural assets, such as its tropical climate and coastline, to explore hydrogen production while driving investment in energy transition sectors like drone technologies and marine electrification. The initiative will serve as a platform to support industries transitioning toward net-zero emissions, contributing to a greener and more sustainable future for Kerala.

Launched by Raiyaan Shingati and Mohammed Shoeb Ali, Transition VC aims to offset 40 million tons of carbon emissions by investing in breakthrough technology while generating financial returns for its limited partners (LPs). The Kerala Startup Mission is the nodal agency of the Government of Kerala for entrepreneurship development and incubation activities in the state.