Cleantech Startup Sprih Bags $3 Mn To Aid Companies With Carbon Emission

Cleantech startup Sprih has raised seed funding of $3 Mn (about INR 25 Cr) led by Leo Capital, with participation from entrepreneurs and climate experts globally.

The startup plans to use the fresh capital for sales and marketing activities, acquiring talent for creation of AI models centred on climate and broadening its partner ecosystem to aid customers in implementing climate solutions. 

Founded by Akash Keshav, Ravi Singhal, Rohit Toshniwal and Hemant Joshi in 2022, Sprih is an AI-powered cleantech platform which is designed to assist companies in streamlining their path towards attaining sustainability goals. 

Keshav said, “With the infusion of this capital, we are well-positioned to accelerate our growth, expand the team, and bring more innovative solutions to the market.”

He also added that with stricter climate laws and trade agreements across the globe, businesses are confronted with existential challenges.

With a SaaS business model, Sprih offers its technological solutions to help businesses create a data-driven and action-oriented sustainability strategy. The startup aims to catalyse a transformation through technology, where corporate success and environment sustainability intertwine across the business landscape.

It claims to cater to companies across multiple industries like manufacturing, construction, chemical, paint, pharma, IT, and higher education. Some of its clients include Indigo Paints, Hero Motors, Arvind SmartSpaces, Espi Industries and InfoBeans, among others.

Additionally, the startup claims to have research partnerships with leading institutions like IIT Kanpur and IIT Bombay. In the coming years,  it plans to expand its customer base in India and grow its presence in the USA, Europe, and other key global markets.

The announcement comes at a time when the cleantech space has been witnessing renewed investor interest, despite the funding winter and adverse market conditions. As users and businesses become more environmentally conscious, the arena is seeing a big uptick in numbers and adoption among the masses. 

Recently, yet another cleantech startup Varaha announced that it secured $8.7 Mn funding to improve its tech and science capabilities, expand Asia and Sub-Saharan Africa operations and meet the growing demand for carbon credits.

Earlier in January, cleantech startup INDRA raised $4 Mn in a Series A funding round co-led by Mela Ventures and Emerald Technology Ventures, with participation from Peak Sustainability Ventures and The Climate Angels.