Promethean Energy raises $2 Mn in pre-Series A round

Promethean Energy, a cleantech startup focused on decarbonising industrial heating, has raised $2 million in its pre-Series A round led by Transition VC, with participation from Sangam Venture, Sagana Capital, and Fondation Botnar.

The proceeds will be used to expand its product line, build AI-based energy optimisation tools, and grow its presence in India and Southeast Asia.

The Mumbai-based brand develops industrial-grade heat pump and waste heat recovery systems to replace fossil-fuel-based heating. Its products integrate thermal storage, smart controls, and energy monitoring. 

The firm offers solutions suited to Indian industrial conditions and operates under both CAPEX and ESCO models.

Promethean's systems are used by companies including Hindustan Unilever, Godrej Industries, and Raymond Textiles. The technology is deployed across sectors such as chemicals, textiles, FMCG, and steel, with over 100,000 tonnes of CO2 savings reported annually. 

It aims to decarbonise 1,000 factories by 2027 and is preparing for international pilots in Bangladesh, Indonesia, and the Middle East.