Biofics Private Limited Raises ₹10.4 Crore in Pre-Series A Funding to Accelerate Growth in Bio-CNG and Waste Management Solutions
Surat, India – August 27, 2024 – Biofics Private Limited, a leading company in Bio-CNG Plant Engineering, Procurement, and Construction (EPC) and decentralized waste management solutions, has successfully raised ₹10.4 crore in a Pre-Series A funding round. The round was led by renowned investor Gunavanth Vaid, with additional participation from Upaya Social Ventures.
The newly raised capital will be strategically allocated to scale operations, advance technology, and expand Biofics’ market reach. The company plans to develop advanced Bio-CBG plants, invest in research and development, and create more green jobs in the bioenergy and solid waste management sector.
Commenting on the investment, Gunavanth Vaid expressed his enthusiasm for Biofics’ potential, stating, “Biofics Private Limited is at the forefront of sustainable energy solutions. Their expertise in Bio-CBG technology addresses environmental challenges while generating economic benefits. I am thrilled to be a part of their journey and to see the remarkable impact they will continue to make in the industry.”
Biofics Private Limited has established itself as a leader in waste management and bioenergy, diverting 100 million tonnes of waste away from landfills through innovative solutions. With over 500 projects installed across India and current order book close to ₹500 crore, Biofics is poised for significant growth in the renewable energy market.
Sunil Mahapatra and Vikas Mishra, promoters of Biofics Private Limited, shared their excitement about the successful funding round, saying, “We are honored to have the support of Gunavanth Vaid and Upaya Social Ventures in this pivotal stage of our growth. This investment marks a significant milestone in our journey to revolutionize the bioenergy and solid waste management sector. With this support, we are ready to accelerate our growth, enhance technological innovations, and expand our footprint in the renewable energy market.”
As Biofics continues to grow, the company remains committed to driving sustainable solutions and making a meaningful impact on the environment and society.
About Biofics Private Limited
Biofics Private Limited, headquartered in Surat, is a leader in the waste management and bioenergy sector. The company specializes in the development and maintenance of Bio-CBG plants and decentralized waste management solutions, with a strong commitment to its mission of “Zero Waste to Landfill” & developing a closed loop “Circular Economy Ecosystem”. Their subsidiary, Biofics Organics, is a trusted developer of high-quality biofertilizers and biopesticides. As a leading indigenous technology manufacturer and innovator, Biofics focuses on 3 major problems in India, 1. Energy security 2. Access to quality agri products & 3. Unmanaged Waste & it’s potential wasted. This enables them to contribute to environmental sustainability and supports agricultural productivity, making a significant impact on local communities by creating cleaner, healthier living conditions. With continued innovation and expansion plans, Biofics remains dedicated to driving sustainable solutions for a greener future.