To support energy transition objectives, KSUM invests Rs 15 Cr in Transition VC

The Kerala Startup Mission (KSUM) and Transition VC, a venture capital fund with an emphasis on energy transition, have established a strategic alliance to support the growth of startups in the clean energy and decarbonization industries. Additionally, the Kerala state government has invested Rs 15 crore in Transition VC through KSUM.

According to a press release, the partnership will provide financial support, strategic direction, and access to Transition VC’s deep domain experts to help local and national deep-tech energy transition startups.

Reaching net carbon neutrality by 2050 and becoming a 100% renewable energy-based state by 2040 are two goals the Kerala government has set to encourage the energy transition. In order to provide advanced facilities for startups in the energy transition space, the state claims to have established strong support systems, including Maker Village, fab labs, IoT labs, and an MSME cluster dispersed throughout the state.

By utilizing Kerala’s solid institutional connections with research centers, this collaboration will provide vital assistance for growing deep-tech companies. In addition to encouraging investment in energy transition industries like drone technologies and marine electrification, it seeks to explore hydrogen production by utilizing Kerala’s natural resources, such as its tropical climate and coastline.

In order to help industries make the transition to net-zero emissions and contribute to a more sustainable and greener future for Kerala, the initiative will act as a platform.

Transition VC was founded by Raiyaan Shingati and Mohammed Shoeb Ali with the goal of investing in innovative technology to offset 40 million tons of carbon emissions while providing financial returns for its limited partners (LPs). The Government of Kerala’s nodal agency for entrepreneurship development and incubation initiatives in the state is the Kerala Startup Mission.