Delhi-area climate tech startup to build digital marketplace for corporate carbon assets
Noida-based climate-tech firm Sustainiam announced in December 2024 that it has secured about $1.45 million (approximately ₹12.3 crore) in its maiden institutional funding round. The round was led by Orios Venture Partners, a VC fund focused on climate and sustainability, with participation from celebrity investor Shilpa Shetty Kundra (through her family fund), serial entrepreneur Rajesh Sawhney, Angel investor Vinit Bhansali, and several others. This funding will enable the startup to launch a new technology platform, expand its team, and scale operations beyond India to global markets.
Sustainiam’s business is building digital infrastructure for companies to manage and trade environmental assets. Founder Sapna Nijhawan (a former Deloitte manager) says the startup’s platform helps businesses issue and trade renewable energy certificates and carbon credits, effectively providing a “digital front” for India’s carbon market. Currently, Sustainiam serves over 140 corporate clients – including Coca-Cola, ITC, Unilever, Brookfield and H&M – and claims it is already trading more than 600 million kilowatt-hours’ worth of carbon assets. Nijhawan told ET that the new product (an online exchange for such assets) would roll out early next year, allowing faster registration and liquidation of carbon and renewable energy certificates via a single dashboard. The startup targets revenue of roughly ₹70 crore for 2025, driven by transaction fees and subscription services.
The investment round reflects growing VC interest in climate tech, especially in emerging markets. Orios partner Sukhmani Bedi explained that this is the firm’s second investment in a carbon-trading technology company, underscoring the role of vibrant carbon markets in achieving net-zero goals. Indeed, analysts note that supportive policies and a rising corporate push for ESG are drawing capital into climate startups in India and worldwide. Bedi said, “We believe in the pivotal role of carbon markets in achieving a net-zero emissions future”. Rajesh Sawhney, who invested via his GSF Accelerator, and Shilpa Kundra’s fund both saw Sustainiam’s platform as a way to bring transparency and scale to carbon offsetting. Kundra (Shilpa’s husband) remarked that by making the carbon certificate process more efficient and accountable, Sustainiam empowers more companies to participate in the low-carbon economy.
Startup commentary highlights the team’s vision. Nijhawan emphasises that Sustainiam’s digital platform streamlines what had been a cumbersome paper-based system. “What we are building is a digital front… submitting carbon assets and project documentation fully digital,” she said, noting that this consolidation will make it easier for recipients to verify and use credits. In other words, Sustainiam aims to be the online marketplace and registry for India’s compliance carbon market, similar to how fintech exchanges handle financial assets.
In strategic terms, this funding places Sustainiam to capitalise on a growing climate-tech wave. India’s early-stage climate deals have been rising: in the first half of 2024, for example, climate tech startups attracted sharply more venture capital than in prior years (reflecting broader global trends). Orios’ investment signifies confidence in Sustainiam’s model, and Nijhawan’s team plans to double down on product development. The capital will allow them to hire technologists and climate specialists, and to go to market internationally, starting with jurisdictions that have established carbon trading regimes.
The market implications are noteworthy. As more large companies commit to net-zero targets, demand for credible carbon credits and renewable energy certificates is accelerating. Sustainiam, by providing tools to track, issue and trade these credits, sits at the intersection of sustainability and fintech. Its success could simplify compliance for businesses and attract further investor interest in the space. If Sustainiam hits its growth targets – as Nijhawan expects, with 600 million kWh already in its exchange – the startup could set a template for climate marketplaces in other developing economies. For now, investors at Orios and elsewhere are betting that a streamlined, technology-driven approach to carbon markets will be a cornerstone of corporate climate action, and Sustainiam’s $1.45M round is an early milestone in that effort.
