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 in a round led by WEH Ventures.
The company in its statement said that it intends to use this fund to fuel its growth, with the company aiming for Rs 100 crores in Assets Under Management (AUM) within the next six to twelve months.
Co-founded in 2022, by Hardik Bhatia and Devansh Shah, the company enables users to purchase fractional ownership in renewable energy projects like solar with an inventive minimum ticket size of just Rs 25,000—setting it apart from platforms requiring up to Rs 1 crore for commercial solar projects. Users also benefit from a lucrative 10 per cent-12 per cent Post-Tax Extended Internal Rate of Return (XIRR) on energy income, with transparency ensured through comprehensive due diligence reports.
SustVest has already sold Rs 20 crore worth of solar projects and generated Rs 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 enterprises such as Subros, Macrotech Developers (Lodha group), and Mahle Anand Filter Systems have entrusted their solar projects to the SustVest platform.
Commenting on the announcement, Shah said “We are thrilled to announce our recent fundraising of $250,000 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 asset 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 $160,000 and received a Rs 30Lakhs grant from the 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.
