Ratan Tata Backs Energy Distribution Startup Repos Energy

Energy distribution startup Repos Energy has raised INR 5.6 Cr in a Pre-Series A funding round from Ratan Tata and other investors. The round was a mix of equity and debt. 

The fresh capital will be deployed to widen product offerings, expand India footprint, and hire talent. Repos will further invest in technologies such as IoT, AI, and blockchain.

The current fundraising is the second time when Ratan Tata backed Repos Energy. Earlier, Repos had raised an undisclosed amount of investment from Tata. 

Founded in 2017 by husband-wife duo Chetan Walunj and Aditi Bhosale Walunj, the Pune-based startup delivers fuels, particularly diesel to customers’ doorstep through its mobile energy distribution network. With its app, a customer can order fuel from 100 to 1000 liters at a time. It counts hotels, hospitals, industries, and residential complexes as its customers.

Repos is looking to offer renewable energies including ethanol, methanol and biofuels on its mobile distribution network. 

Repos claims to deliver fuels in 220 cities of India with the help of over 1500 partners and more than 2500 Repos Mobile fuel pumps. 

In September last year, it reportedly registered over 150 startups to carry out door-to-door delivery of diesel through mobile petrol pumps. 

India’s Energy Market 

According to an IBEF report, the demand for diesel in India is estimated to touch 163 MT by 2029-30, with diesel and gasoline covering 58% of India’s oil demand by 2045 while the consumption of natural gas in the country is anticipated to grow by 25 Bn cubic metres (bcm), registering an average annual growth of 9% by 2024.

India’s renewable sector, which is one of the most attractive markets in the world, recorded a CAGR of 17.33 % between FY16-20 and is expected to reach 15,820 TWh by 2040. The report stated that the country was ranked fourth in wind power, fifth in solar power and fourth in renewable power installed capacity, as of 2020.

Some of the major players in the renewable energy sectors are The Solar Labs, Zolt Energy, Azure Power, CleanMax Solar, and InoSolar Energy, among others.