Noida-based startup incubator GoMassive Earth Network has launched Climate Change which is an early-stage investment syndication platform for pollution reduction and climate tech.
The company claims that its investment network has received funds from Vijay Shekhar Sharma (Paytm), Nipun Sahni (Apollo Global), Praveen Gandhi (Seedfund), Paula Mariwala (Stanford Angels), Shailesh Vickram Singh (Massive Mobility), Sandeep Baid, Lokendra Tomar (Elevate Services) & also has DS Group as a corporate investor.
In India, angel investors have been active in investing in consumer and enterprise tech startups. Leading networks in India include India Angel Network, LetsVenture, Angel List, Mumbai Angels, Hyderabad Angels among others. However, there aren’t any syndication platforms that focus exclusively only on pollution reduction & climate change. Further, marquee funds like Sequoia, Accel and India Quotient have started investing in agritech and climate tech in India, the company said in a statement.
Sumeet Singh, managing partner of GoMassive Earth Network said, “Climate Angels will provide a platform for angel investors keen to invest in sustainability startups. We will curate exclusive deal flow that not only fits our mandate but also has a viable exit strategy.”
Founded in 2017 by Shailesh Vickarm Singh, GoMassive invests in sustainability startups solving pollution and climate change which is led by entrepreneurs, seasoned angel investors, corporates, and VCs.
The network offers capital, mentorship, and validation of ideas through its partnerships with research labs, tech academia, and policy think tanks.
In 2018, Paytm’s Vijay Shekhar Sharma and Shailesh Vickram Singh had formed an incubator called GoMassive, which works closely with educational and research institutions such as NRDC, IIT Delhi, IIM Lucknow and the Sustainable India Finance Facility (SIFF). It runs boot camps to groom young startup teams to foster a spirit of green energy-led entrepreneurship.
According to the World Health Organization (WHO) data shows that 90% of the world’s population breathes air containing high levels of pollutants. The World Bank also stated that at a global level, the cost associated with health damage from ambient air pollution is estimated to be $5.7 Tn equivalent to 4.8% of the global GDP in 2016. Today, India has paid a massive toll on this over-reliance on oil and petrochemicals in the past few decades.
Some of the incubator programmes focusing on the environment include the Indian Angel Network incubator, Centre for Innovation Incubation and Entrepreneurship, IIM Ahmedabad, and NIT TREC-STEP.