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Startup Swadha Energies Raises First Round of Funds from Angel Investors

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The IIT Madras-incubated startup has developed special motor controller and algorithms to optimally manage and control centralized air conditioning in commercial buildings.
Swadha Energies

IIT-Madras incubated startup Swadha Energies, a maker of tech-powered energy conservation solutions, has raised an undisclosed amount of funds in a pre-Series A round from well known angel investor groups Indian Angel Network (IAN), US-based Keiretsu Forum and Stanford Angels.

This became the startup’s first round of institutional funding, and IAN members MVS Mani, co-founder and MD, Future Focus Infotech, Nitin Zambre, former MD, ICF India, and others led the round. Last year too, Swadha had raised an undisclosed amount from BPCL (Bharat Petroleum Corporation Limited), a Government of India controlled oil and gas company.

Launched in 2016, Swadha was incubated at IIT-Madras’ Rural Technology Business Incubator, and designs smart HVAC (Heating, Ventilation and Air Conditioning) systems which can save close to 40% in energy costs.