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 capital infusion is expected to fuel SustVest’s growth, with the company aiming for Rs 100 crore in Assets Under Management (AUM) within the next six to twelve months.
The company was co-founded in 2022 by 25-year-old BITS Pilani alumnus Hardik Bhatia and 24-year-old Devansh Shah. The company enables users to purchase fractional ownership of renewable energy projects with an inventive minimum ticket size of just Rs 25,000. Users also benefit from a lucrative 10-12 per cent Post-Tax Extended Internal Rate of Return (XIRR) on energy income, with transparency ensured through comprehensive due diligence reports.
SustVest has sold Rs 20 crore worth of solar projects and generated Rs 1 crore in energy income to its expanding user base. SustVest now has a base of more than 45,000 registered investors. Prominent enterprises such as Subros, Macrotech Developers (Lodha group), and Mahle Anand Filter systems have entrusted their solar projects to the SustVest platform.
Devansh Shah, Co-founder, SustVest, 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 crore 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. 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 changes for the next 30 years,” he added.
“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 30 lakh grant from the Ministry of Electronics and IT under its TIDE 2.0 Scale-up program. SustVest has