GPS Renewables, a Bengaluru-based compressed biogas company, has closed a ₹635 crore Series C funding round aimed at expanding its biogas infrastructure network across India. The round brings together a mix of equity investors and long-term infrastructure capital, signaling growing confidence in India’s domestic clean energy ambitions.
The fundraise is split across three distinct layers. The first tranche consists of ₹125 crore in equity, led by PixelSky Capital with participation from Spectrum Impact Family Office and the family office of Aarti Industries Ltd. The second tranche involves ₹200 crore in equity directed into GPSR Arya, the company’s asset holding platform, sourced from an undisclosed leading Korean conglomerate. The third layer comprises ₹310 crore previously invested into GPSR Arya by Japan’s Sojitz Corporation and Indian Oil Corporation.
About GPS Renewables
The company was co-founded over a decade ago by Mainak Chakraborty and Sreekrishna Sankar. Today, GPS Renewables employs more than 800 people and generates roughly ₹1,000 crore in annual revenue. It has built and operationalized more than 30 compressed biogas plants across the country, including Asia’s largest municipal solid waste-based CBG plant in Indore and one of the world’s fastest-executed CBG plants in Barabanki.
The fresh capital will be deployed toward a pipeline of over 200 CBG projects being developed in collaboration with oil marketing companies. This aligns closely with India’s SATAT scheme, a government-backed initiative pushing for wider adoption of compressed biogas as a domestically produced alternative to imported LNG.
GPS Renewables positions itself not just as a plant constructor but as a long-term operator of biogas infrastructure. GPSR Arya, the company’s dedicated asset holding platform, was structured specifically to attract patient, long-duration capital from institutional investors like Japanese and Korean conglomerates, whose investment strategy is tied to energy security rather than short-term financial returns. This structural distinction is what sets GPS Renewables apart from a typical project company.
The company’s full-stack model covers technology, software, design engineering, EPC, as well as operations and maintenance, making it a vertically integrated infrastructure platform in the clean energy space.
