- Funding was led by WEH Ventures and saw participation from Asav Partners along with multiple angel investors
- The brand raises funds scale to 100Cr in AUM
New Delhi/NCR, 29th November 2023, Gurgaon-based SustVest, a sustainable Investment platform that allows users to buy fractional ownership of renewable energy projects like solar and help them earn energy income from the projects installed for Top Industrial consumers, recently raised a fund of $250,000 USD in a round led by WEH Ventures. This financial infusion is expected to fuel SustVest’s growth, with the company aiming for INR 100 crores in Assets Under Management (AUM) within the next six twelve months.
SustVest has already sold INR 20 crore worth of solar projects, and generated INR 1 crore in energy income to its expanding user base. Investor demand has been very strong, with projects being subscribed within minutes and SustVest now has a base of more than 45,000 registered investors. The SustVest platform provides complete transparency on projects and returns to its members, nestled in a user-friendly interface. Prominent enteprises such as Subros, Macrotech Developers (Lodha group) and Mahle Anand Filter systems have entusted their solar projects to the SustVest platform.
Co-founded in 2022 by 25-year-old BITS Pilani alumnus Hardik Bhatia and 24-year-old Devansh Shah, SustVest disrupts traditional investment norms, enabling users to purchase fractional ownership in renewable energy projects like solar with an inventive minimum ticket size of just INR 25,000—setting it apart from platforms requiring up to INR 1 crore for commercial solar projects. Users also benefit from a lucrative 10%-12% Post-Tax Extended Internal Rate of Return (XIRR) on energy income, with transparency ensured through comprehensive due diligence reports.
Commenting on the announcement, Devansh Shah, Co-founder, SustVest said “We are thrilled to announce our recent fundraise of $250,000 USD in funding, led by WEH Ventures. This investment marks a significant milestone in our journey towards redefining the intersection of finance and sustainability. The enthusiastic support from WEH Ventures validates our vision of creating a visionary gateway to the future of conscientious wealth building. The funds raised will be strategically utilized to expand our user base and propel us towards our ambitious goal of reaching 100 Crores of Assets Under Management (AUM).”
“This injection of capital will empower us to amplify our impact in the Indian market, fostering positive change through sustainable investments. We remain steadfast in our commitment to innovation, transparency, and shaping a financial landscape where every investment contributes to a sustainable future. This funding not only fuels our growth but also reinforces our dedication to projects that make a tangible difference. To date, projects on SustVest have already resulted in saving 20 Lakh Kgs in CO2 emissions, and we are poised to continue creating such impactful change for the next 30 years.” he added.
“SustVest is solving a clear problem of connecting capital to solar projects and has made rapid strides in short order in building up the first wave of assets. We are excited to back them as they build out a scaled renewable assets play. SustVest’s disruptive model aligns with our commitment to drive impactful revolution. As we chart the course ahead, WEH Ventures is proud to support SustVest in reshaping the investment landscape, fostering industry partnerships, and accelerating towards a greener, more sustainable future” said Deepak Gupta, General Partner, WEH ventures.
SustVest has earlier raised USD 160,000 and received INR 30Lakhs grant from Ministry of Electronics and IT under its TIDE 2.0 Scale up program.. SustVest has been accelerated by Gruhas, DLF Family office and Anthill Ventures.
About SustVest
Founded in 2018, 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 INR 5000. The 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.
At SustVest, the startup is offering the opportunity to invest directly into the asset, which generates predictable returns and is immune to speculation. Investing through SustVest generates better returns than debt, mutual funds, and FDs. This company is the brainchild of CEO Hardik Bhatia, who first thought of SustVest when he was in the first year of his Bachelor’s degree in Computer Science Engineering from BITS Pilani, which he completed in 2021. He met two of SustVest’s Co-Founders, Prasanth Konda and Devansh Shah, and together, the three young men set about changing the investors’ perspective toward renewable energy.
About WEH Ventures (Boilerplate)
Launched in 2017, WEH Ventures is a sector-agnostic early-stage venture fund with a primary focus on startups solving India-first problems. The fund is very often the first institutional investor in a company and aims to support it through the early years and beyond. In its six year journey, the fund has already backed several category-leading companies such as smallcase, Jar, Masterchow, Appsforbharat and Pratilipi which have been subsequently backed by top tier institutional investors.
