WEH Ventures led a $250,000 fundraising round for the investment platform SustVest. The Gurugram-based business previously raised $160,000 and was awarded a Rs 30 lakh grant by the Ministry of Electronics and IT as part of the TIDE 2.0 scale-up initiative. Gruhas, the DLF Family Office, and Anthill Ventures have accelerated SustVest.
According to a press release from SustVest, the money will be used to increase the number of users.
Unlike platforms that demand up to Rs 1 crore for commercial solar projects, SustVest, which was co-founded in 2022 by Hardik Bhatia and Devansh Shah, allows users to purchase fractional ownership in renewable energy projects like solar with a minimum ticket size of Rs 25,000.
According to SustVest, it has sold solar projects valued at Rs 20 crore and brought in Rs 1 crore in energy revenue for its growing user base. Additionally, it states that over 45,000 registered investors make up its base. Businesses like Mahle Anand Filter Systems, Macrotech Developers (Lodha Group), Subros, and Subros have trusted its platform with their solar projects.
Within the next six to twelve months, the company wants to reach an Asset Under Management (AUM) of Rs 100 crores.
A sector-neutral early-stage venture fund, WEH Ventures has backed several industry-leading businesses, including Jar, Masterchow, AppsForBharat, Pratilipi, smallcase, and Masterchow.
