Banyan Nation is a waste management company that collects plastic wastes from industries and recycles them for further use in the industry. Hyderabad-based Banyan Nation leverages tech-based solutions to collect plastic from informal recyclers and businesses. The company then uses a novel method to produce virgin-like recycled plastic that is created in an eco-friendly manner. Banyan Nation works with FMCG companies to sell its recycled plastic which is made into shampoo and lotion bottles. In 2021, the startup has been recognized as a Technology Pioneer by World Economic Forum.
BlueSmart started its operations in 2019 as a 50-EV experiment. The company is an app-based all-electric ride-hailing B2C platform with about 600 EVs plying in the Delhi-NCR region. The company is competing with the industry behemoths Ola and Uber, which makes it tough for this young startup, but its dedicated EV fleet is attracting all customers looking for sustainable mobility. In September 2021, BlueSmart tied up with Jio-BP—a joint venture between RIL and BP, to set up charging stations across the country. In the same month, UK-based mobility investment firm BP Ventures made its first investment in India of $13 million. This was part of a $25 million Series A round that also saw investment from a clutch of investors. Then in October 2021, BluSmart signed an MoU with Tata Motors to add 3,000 EVs to its fleet. In the next few years, the company plans to expand to the country’s top six cities.
Hemp has been cultivated in India from ancient times for its medicinal, food, and other utilities, however, it lost its significance over the years due to a variety of reasons. In 2013, seven students of Mumbai-based HR College of Commerce and Economics founded Bombay Hemp Company, to revive the uses of hemp. Considering Hemp cultivation is not legal in many parts of the country, the company works with government agencies for research, awareness, and standardization. Besides, the company uses this sustainable crop to make textiles, building materials, and medicines for health and wellness. In 2018, Ratan Tata invested in this Indian green startup with $1 million in a seed funding round. In November 2021, the company further raised another $2 million from investors to augment its growth.
Buyofuel is engaged in creating an ecosystem for the biofuel market and it is India’s first online marketplace for biofuels. The company launched its tech-enabled product in 2020 that connects the suppliers of raw materials with biofuel manufacturers. The manufacturers get the necessary resources for making the biofuel and are able to get the marketplace where they can sell the green fuel to large-scale consumers. India has set the target of 20% ethanol blending in petrol by 2025 and the country is expected to become the third-largest market for ethanol in the world after the US and Brazil by 2026.
The company is the leading plant-based meat brand in India. They sell Vegetarian Biryani, Keema, Indian curries, etc. with a shelf life of about a year. Founded in 2016, the Udaipur-based company is also one of the first from India to start exporting its products to international markets like Canada, Dubai, Singapore, etc. Good Dot also runs a food chain of eateries serving plant-based delicacies and goes by the name of GoodDo. The vegan chain is operational in Udaipur and Mumbai, with plans to go international as well.
GoodMylk is a Bengaluru-based startup that deals with vegan alternatives to dairy products like oat milk, cashew milk, peanut curd, vegan butter, and vegan mayonnaise. The company is also working with The Switch Fix to make sustainable shampoo bars. Founded in 2016 in a home kitchen by a mother-son duo, the company raised its first round of capital in 2018. In September 2021, the food tech startup has raised $1 million in a seed round from multiple investors.
Founded in 2017, Phool is an innovative recycling startup that works on India’s temple waste problem. The Kanpur-based provides solutions to the flower waste generated in the Temples by making charcoal-free incense, wellness products, and biodegradable packaging materials. Hindi movie actor and entrepreneur Alia Bhatt have also invested in Phool.
Takachar is a Delhi-based company that has developed a machine that converts agricultural waste biomass into marketable products. India is one of the world’s largest agricultural economies and as a result, it also generates plenty of agricultural waste. The stubble burning in North India is one of the biggest reasons for air pollution. Takachar’s innovative and affordable machines will help farmers turn agricultural waste into products like fuel and fertilizer, which will augment their income. In addition to the Indian market, the company has expanded its offering to Africa as well. In October 2021, Takachar won the inaugural Earth shot Prize, an award set up by Prince William and the Royal Foundation to celebrate initiatives that relate to the environmental impact of climate change.
Yulu provides single-seater electric two-wheelers for travel within a city. The Bengaluru-based company is currently operating about 10,000 scooters in Bengaluru, Mumbai, and Delhi. IIT Kanpur BTech graduate Amit Gupta moved out of India’s first unicorn, InMobi, and started Yulu in 2017. India’s one of the largest 2-wheeler companies Bajaj Auto is a stakeholder in the Yulu business and also does the assembly of the two-wheelers. In September 2021, Yulu partnered with Adani Electricity to install over 500 battery swapping stations in the next few months.
ZunRoof is one of India’s leading residential solar energy rooftop installers. The Gurgaon-based startup operates in three segments that include – ZunRoof (residential rooftops catering to urban areas), ZunSolar (solar products for rural areas), and ZunPulse (smart home solutions). The company is using technologies like IoT to tap into India’s lucrative rooftop solar installations market. In the first 9 months of 2021, India added 1.3 GW of rooftop solar, a 202 percent increase compared to the same period in 2020 (January to September). In 2020, ZunRoof raised $3 Mn from the Godrej family fund in Series A funding.