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Promethean Energy, a cleantech startup focused on industrial decarbonisation, has raised $2 million in its pre-Series A funding round led by Transition VC.
The round also witnessed participation from other investors such as Sangam Venture, Sagana Capital, and Fondation Botnar, the startup said in a statement.
The company will utilise the capital to expand product offerings, scale operations, and deepen its presence across India and Southeast Asia, it added.
Founded by IIT Bombay alumni, Promethean Energy builds industrial-grade heat pump systems and waste heat recovery solutions to replace fossil-fuel-based heating in large factories and commercial establishments. The company’s proprietary systems combine thermal technology with thermal storage, smart controls, and real-time energy monitoring to deliver clean, reliable, and cost-effective heating.
By 2027, Promethean Energy aims to decarbonise 1,000 factories through strategic partnerships with OEMs and EPC players.
“Promethean plans to use the raised capital to expand its product line to include high-temperature and advanced heat pumps, develop an AI-powered thermal energy optimisation platform, and build a national network of sales and service engineers. It also aims to launch international pilots in Bangladesh, Indonesia, and the Middle East,” said KP Ashwin, head of energy efficiency at Promethean Energy.
INDIA DEAL MONITOR
Here are the prominent venture capital transactions in India announced from May 19-23, 2025.
| Startup | Headquarter | Investment Size (USD) | Investment Stage | Lead Investor(s) | Other Investor(s) | Industry | Verticals |
|---|---|---|---|---|---|---|---|
| Promethean Energy | Mumbai | 2,000,000 | Pre-Series A | Transition VC | Sangam Venture, Sagana Capital, and Fondation Botnar | Industrial Machinery | Cleantech |
| Data Sutram | Mumbai | 9,000,000 | Series A | B Capital, Lightspeed | – | Software | SaaS |
| Mythik | Mumbai | 15,000,000 | Seed | – | Sakal Media Group, BITKRAFT, VC Grid, Visceral Capital, Jason Kothari, Shah Rukh Khan’s family office, Patni family office, Saif Saeed Ghobash, Jayanti Kannai, Pravin Jain, Marc Younan, Deepen Parikh, Samir Vora, Samarth Parekh, Anurag Goel, Nishant Aggarwal | Media | Digital Media |
| Miraggio | Delhi | 6,500,000 | Series A | RPSG Capital Ventures, Client Associates Alternate Fund | Prath Ventures | Retail | E-commerce |
| Tan90 Thermal | Chennai | 2,300,000 | Series A | NABVENTURES | Blue Ashva Capital, Capital-A, 3i Partners | Logistics/Distribution | – |
| Alt Carbon | Kolkata | 12,000,000 | Seed | Lachy Groom | – | Environmental Services | Cleantech |
| Zoca | Gurugram | 6,000,000 | – | Accel | GTMfund, Elevation Capital, Better Capital | Marketing/Advertising | AI and Machine Learning |
| Misfits | Gurugram | 582,750 | Seed | Info Edge Ventures, Better Capital | – | Internet | Social Media |
| BlackCarrot | Mumbai | – | Seed | Venture Catalysts | We Founder Circle, EvolveX Accelerator, GX Ventures, Suraj Nalin (Co-founder, PlaySimple Games), and celebrity investors Neha Dhupia, Agnello Dias | Retail | E-commerce |
| FarMart | Gurugram | 5,000,000 | Debt | Symbiotics | – | Food | E-commerce |
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