Carbon Masters Raises Fresh Round of Equity Funding to Expand Carbonlites Biomethane Portfolio

Carbon Masters India, a climate-tech venture providing circular economy solutions, has raised an undisclosed amount in a fresh round of equity funding led by Schneider Electric Energy Access Asia (SEEAA), Sangam Ventures, and IAN Group. The round also saw participation from Sriram Sankaran, Managing Director of Synchron Group, and Muthu Murugappan, CEO of Murugappa Group.

As part of this investment, Vikram Raman from SEEAA and Sriram Sankaran have joined Carbon Masters’ Board of Directors.

Carbon Masters, co-founded by Som Narayan and Kevin Houston, is committed to converting organic waste streams otherwise bound for landfill into renewable biomethane and bio-enriched organic manure, marketed under its flagship Carbonlites brand, the company stated.

The company executes Compressed Biogas (CBG) and Organic manure projects through Special Purpose Vehicles (SPVs) and joint ventures (JVs) with strong waste management partners. Its flagship JV, Sustainable Impacts (with Hasiru Dala Innovations), operates one of the few authorised wet waste processing facilities in Bengaluru designated to handle the city’s bulk generators’ organic waste.

The project has also secured pipeline injection clearance from GAIL, with pipeline laying now completed. This positions the plant uniquely to process waste at scale, and injecting biomethane into India’s gas grid to decarbonise households. It will also supply Carbonlites gas to hotels, restaurants, and industries as a substitute for LPG and CNG.

Through this replicable SPV model, Carbon Masters is building a robust business framework to partner with municipalities and private operators across India to help them in their transition to net zero.

With this fresh equity infusion, Carbon Masters will expand production capacity of Carbonlites Biomethane (CBG), scale its Carbonlites bio-enriched organic fertiliser portfolio, enhance efficiency across existing operations and build teams across sales, marketing and R&D.

“We are proud to support Carbon Masters in its mission to decarbonise critical sectors of the Indian economy. Investing in scalable clean energy infrastructure and sustainable agriculture solutions is vital to building a resilient and inclusive low-carbon future,” said Gilles Vermot Desroches, SVP, Corporate Citizenship, Schneider Electric & President, SEEAA.

“Carbon Masters’ innovative circular economy business model aligns with our vision of financing deep decarbonisation pathways. The company’s potential to displace fossil fuels while improving soil health makes it a compelling climate-tech investment,” remarked Karthik Chandrasekar, CEO, Sangam Ventures.

“IAN has topped up its investment in Carbon Masters. This is a strong endorsement of the team’s execution and their ability to keep evolving. Carbon Masters reflects IAN’s thesis of solving real problems through innovation,” emphasised Padmaja Ruparel, Co-founder, IAN Group.

“We are grateful for the continued trust of our investors, which reflects confidence in our business and growth plans. This investment will help us further strengthen operations and scale sustainably, as we continue to support India’s transition to a low-carbon future and help our customers meet their net zero goals,” said Som Narayan, CEO and Co-founder, Carbon Masters.

The company is now preparing for its next equity round to finance five upcoming SPVs, with Ostara Advisors appointed as investment bankers.

Carbon Masters currently operates five CBG plants across Karnataka, Telangana, and Tamil Nadu, collectively processing over 36,000 tonnes of municipal solid waste annually through anaerobic digestion. It supplies Carbonlites CBG to commercial kitchens, industries, transport fleets, and city gas networks, while Carbonlites Bio-Enriched Organic Manure supports regenerative agriculture by improving soil health and farm productivity.