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Avaada Group Successfully Closes Historic Inr 10,700 Cr ($1.3 Billion) Funding Round, Reinforcing Its Commitment To Green Energy

PRIVATEJun 30, 2023

Round Type

Funding Round

MumbaiManufacturingEnergyRenewable EnergySolar

Investors

GpscGlobal Power Synergy Public Company LimitedBrookfield Global Transition FundBrookfield Renewables

Description

Avaada Group, a leading integrated energy platform, has announced the successful closure of INR 10,700 crore ($1.3 billion) funding round, marking a historic moment for the green energy industry in Asia and India's renewable energy sector. This funding round is the largest equity round ever raised by any green energy company in Asia.

Quick answer

Avaada Group raised an undisclosed amount in a Funding Round round, dated June 30, 2023. Investors: Gpsc, Global Power Synergy Public Company Limited, Brookfield Global Transition Fund and Brookfield Renewables. Avaada Group is based in Mumbai, Maharashtra, India.

How much did Avaada Group raise?
Avaada Group raised an undisclosed amount in a Funding Round round on June 30, 2023.
Who invested in Avaada Group?
Gpsc, Global Power Synergy Public Company Limited, Brookfield Global Transition Fund and Brookfield Renewables are named as investors in this round.
What does Avaada Group do?
Avaada is derived from 'Ayurveda' which means 'Science of life, and 'Vaada,' which implies a promise.
Where is Avaada Group based and how big is it?
Avaada Group is based in Mumbai, Maharashtra, India.
Who are the decision-makers at Avaada Group?
Fundz holds 1 contact at Avaada Group. Names and contact details are shown to Fundz members.

Source: Fundz verified event record.

Who else raised in Energy and Renewable Energy around the same time

Companies in the same sectors as Avaada Group that raised within 45 days of this round, from Fundz verified event records.

  • GlassPoint raised $8M (Series A) on July 31, 2023.
  • Ascent Solar Technologies raised $900K (Seed) on June 29, 2023.
  • Aptera Motors raised $79K (Seed) on June 20, 2023.
  • CubicPV raised an undisclosed amount on June 13, 2023.
  • CubicPV raised $33M on June 7, 2023.
  • Electra Battery Materials Corporation raised $6.1M on August 11, 2023.

Who to call at Avaada Group, and when

A new round usually means Avaada Group is about to hire and buy. The teams that reach out first get the meeting.

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Company Information

Company

Avaada Group

Location

Mumbai, Maharashtra, India

About

Avaada is derived from 'Ayurveda' which means 'Science of life, and 'Vaada,' which implies a promise. True to its name, Avaada is engaged in actions aimed at crafting a sustainable future. At Avaada, we firmly believe that the present generation has a non-negotiable responsibility for preserving and nurturing the environment than ever before. It is even more critical as the actions we take today will determine the fate of human life on earth. Following the above, we chose to be in the generation of clean energy. With inception in 2017, we have grown rapidly. We are one of India's leading renewable energy IPPs, with an operational capacity exceeding 3 GW and an under execution capacity of 2 GW is under an advanced stage of construction. Avaada is guided by a very experienced team under leadership of Mr. Vineet Mittal, a Harvard alumnus and one of the pioneers of renewable energy in India. Meeting infrastructural and quality standards, the group targets an extensive portfolio of 30 GW of renewable energy projects across by 2030. Avaada has an equity partner in the form of PTT Group, Thailand, a fortune 500 company and one of the world's most prominent oil and gas players. Avaada is one of the very few players with in-depth expertise in Engineering, Procurement & Construction (EPC) capabilities. Our track record lends credence to our path-breaking solar solutions regarding technology, capacity, quality, execution speed, and total cost of ownership. Our emphasis on systems and processes runs strong. It enables us to improve our project delivery capabilities consistently. At Avaada, we adopt the most modern, reliable technologies and execute every project in sync with our social inclusion initiatives. Our renewable energy projects have been accredited and certified by international organizations.

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