Carbon Masters India (CMIPL), a climate-tech venture driving 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.
The funds raised will be used to expand the production capacity of Carbonlites Biomethane (CBG), scale its carbonlites bio-enriched organic fertiliser portfolio, enhance efficiency across existing operations, team building across sales, marketing and R&D, and a smartphone subscription service.
Founded by Som Narayan and Kevin Houston, Carbon Masters India (CMIPL) is a climate-tech company focused on building a circular economy. Through its Carbonlites brand, the company converts wet municipal waste into Compressed Bio-Methane Gas (CBG) to replace fossil fuels, and Bio-Enriched Organic Manure to improve soil health.
CMIPL 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. Its 80+ member team 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.
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.
The company executes CBG (Compressed Biogas) 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 authorized wet waste processing facilities in Bangalore 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 injects 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.
The company is now preparing for its next equity round to finance five upcoming SPVs, with Ostara Advisors, India’s first climate-tech-focused Transaction Advisory firm, appointed as investment bankers.
Som Narayan, CEO & Co-founder, Carbon Masters, said, “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.”
Gilles Vermot Desroches, SVP, Corporate Citizenship, Schneider Electric & President, SEEAA, said, “We are proud to support Carbon Masters in its mission to decarbonize 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.”
Karthik Chandrasekar, CEO, Sangam Ventures, said, “Carbon Masters’ innovative circular economy business model aligns with our vision of financing deep decarbonization pathways. The company’s potential to displace fossil fuels while improving soil health makes it a compelling climate-tech investment.”
Padmaja Ruparel, Co-founder, IAN Group, said, “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.”
