Syntetica has developed a new recycling process capable of recovering both Nylon 6 and Nylon 6,6, two widely used materials that traditional recycling systems struggle to separate from mixed textile waste.

Chief Executive Officer Marco Bertone said that the company’s technology addresses one of the fashion industry’s biggest recycling challenges by enabling the recovery of mixed nylon fibres collected from consumers.

Growing concerns over textile waste continue to drive investment in circular fashion technologies, particularly among premium apparel brands seeking to improve sustainability and strengthen customer perception. At the same time, favourable regulations and recent volatility in nylon prices have further accelerated interest in alternative raw material solutions.

According to Bertone, geopolitical disruptions in the oil market have caused frequent fluctuations in nylon prices over the past six months, prompting fashion companies to reassess their dependence on petroleum-based synthetic materials.

“It’s been a wake-up call to many brands that have been relying on petrol-sourced nylon and petrol-sourced synthetics for pricing and convenience, and which today have seen massive shocks to their systems,” Bertone said.

He added that Syntetica has built its business around affordability and scalability rather than premium pricing.

“We have built the company with the clarity that there’s no green premium. That if you want to scale real solutions for a sustainable world, it needs to be cost-competitive and highly scalable, and you need to build partnerships from the very start,” Bertone said.

In addition to Lululemon, Syntetica has established partnerships with Victoria’s Secret, Etam, and apparel manufacturer MAS Holdings, which also participated in the funding round. The company expects one of its recycling projects to reach the commercial market early next year.

Before completing its Series A round, Syntetica also partnered with Michelin’s Centre for Sustainable Materials to establish a commercial demonstration facility in Clermont-Ferrand, France.

Unlike many companies developing alternative textiles, Syntetica will focus exclusively on producing recycled nylon pellets instead of manufacturing fabrics or garments. Textile manufacturers can then convert these pellets into yarn for use across the apparel industry.

“It’s a story of pragmatic industrial partnerships with the right players to get buy-in from the whole value chain,” Bertone said.

Bertone founded the company after meeting chemistry researcher Louis Monsigny through Entrepreneur First’s accelerator programme at Station F in Paris. The founders later expanded the leadership team by appointing Ash Ward, formerly of battery manufacturer Northvolt, as Chief Technology Officer.

Looking ahead, Syntetica plans to use the fresh capital to demonstrate its ability to produce hundreds of tonnes of recycled nylon pellets annually before expanding production globally.

“Syntetica will be building facilities around the world, close to waste sources and close to textile production,” Bertone said.

The company benefits from strong institutional support in France. The Ecotechnologies 2 Fund, managed by Bpifrance under the France 2030 initiative, led the funding round. Syntetica has also received equity funding, grants and accelerator support from the European Innovation Council (EIC). Additionally, private investors, including EQT Ventures, SWEN Capital Partners, and several family offices, backed the round.

Although Syntetica competes with companies developing enzymatic recycling technologies as well as chemical giant BASF, Bertone believes multiple solutions will be required to solve the global textile waste challenge.

“If everyone were to scale to tens of factories, we still wouldn’t solve this problem,” he said. “Everyone needs to succeed for us to succeed as a society.”

Lululemon has continued expanding its investments in sustainable textile innovation and has previously backed recycling startups, including Epoch Biodesign and Samsara Eco.

The cleantech startup specializes in developing solutions for decentralised pollution sources such as diesel generator (DG) sets and crematoriums. Moreover, it provides retrofit technologies that enable industries to upgrade existing infrastructure without requiring costly equipment replacement. With the newly raised capital, NovorbisItus will scale the deployment of its emission control systems and expand into new product lines. Furthermore, the company plans to address additional use cases, including emissions reduction in boilers and large industrial facilities such as steel plants, while also enabling on-site carbon capture solutions for industries.

The funding round was led by Nithin Kamath’s Rainmatter, which focuses on climate and sustainability-driven investments. At the same time, Rockstud Capital, known for backing manufacturing-led startups, reinforced its commitment to supporting scalable, real-world industrial solutions.

Founded by Harsh Neekhra, Gagan Tripathi, and Divyank Gupta, the company initially introduced a filter-less Retrofit Emission Control Device (RECD). This solution allows businesses to retrofit existing DG sets and comply with emission norms efficiently. Subsequently, the company launched the Crematorium Air Purification System (CAPS), further expanding its impact on critical pollution sources.

Mr. Neekhra said, “We started NovorbisItus as second-year college students in Indore with an idealistic view to fix air pollution at its source and leave clean air for future generations. Over the past few years, we have translated that vision into deployable solutions that are now being used across industrial and commercial settings in India. With this investment, we aim to scale our technology, expand our product portfolio, and accelerate adoption across sectors where emission control has traditionally been limited.”

Abhinav Negi, Investment Lead – Climate and Deep-tech, Rainmatter, said, “At Rainmatter, we look for problems that are urgent, undeniable, and underserved. DG set emissions and crematorium pollution tick all three boxes. Novorbis is solving both with technology built for Indian conditions, where global solutions have simply not worked. What gives us confidence is not just the product but the team behind it. Harsh Neekhra, Gagan Tripathi, and Divyank Gupta started this in college and have stayed the course through everything that hardware throws at you. That kind of persistence, combined with real deployments and a compliance tailwind that only gets stronger, is why we are backing them.”

Abhishek Agrawal, Founder & Managing Partner, Rockstud Capital, added, “At Rockstud Capital, we back manufacturing-led businesses solving real-world problems at scale. Novorbis stands out for building a certified, commercially deployable emission control solution in a segment that is both underserved and structurally inevitable. With tightening emission norms and increasing regulatory enforcement, retrofit solutions like Novorbis’ RECD are becoming essential infrastructure. We believe the team is well-positioned to scale across industrial and urban applications.”

By focusing on scalable emission control technologies, retrofit solutions, and industrial carbon reduction, the cleantech startup aims to address critical environmental challenges while supporting regulatory compliance. As demand for clean air solutions and sustainable infrastructure continues to grow, NovorbisItus looks forward to play a key role in transforming how industries tackle pollution in India.

Importantly, the deal represents KKR’s first climate transition investment in India under its Global Climate Transition strategy, which has already backed eight investments worldwide, including recent deployments in Australia. As part of the transaction, KKR will acquire a majority stake in Allfleet while also taking a minority stake in PMI Electro, thereby aligning its interests across both operations and manufacturing.

“Transport electrification is a critical pillar of the energy transition, and India—with its scale, urbanization, trends, and decarbonization ambitions—represents one of the most significant opportunities for the sector globally,” said Neil Arora, partner and head of KKR’s Climate Transition strategy for Asia Pacific.

Founded in 2017, PMI Electro manufactures electric commercial vehicles, including 7-metre, 9-metre, and 12-metre buses, as well as electric school buses. To date, the company has deployed more than 3,000 buses across over 30 Indian cities, demonstrating its growing footprint in the clean mobility segment.

Subsequently, PMI launched Allfleet nearly five years later as an electric bus operating platform designed to develop, own, and manage large-scale public transport fleets through its subsidiaries. The company now plans to deploy more than 5,000 e-buses under long-term concession and service agreements with state transport authorities in key cities, further accelerating adoption.

Moreover, Allfleet integrates electric vehicles, advanced fleet management systems, and on-ground execution capabilities within a concession-led model. This structure ensures operational continuity and performance throughout the lifecycle of public transport assets, making it a scalable and efficient solution.

As India continues to push toward decarbonization and cleaner urban mobility, scaling reliable electric public transport infrastructure has become increasingly critical. “The differentiated combination of Allfleet’s proven, scalable platform and PMI’s manufacturing and service expertise stands out as a full-service solution in this market. We look forward to supporting Allfleet’s next phase of growth by working together with PMI and leveraging KKR’s global operational expertise and experience investing across climate transition,” Arora said.

In addition, KKR’s investment will enable Allfleet to expand its operations and collaborate more effectively with public transport authorities to grow e-bus fleets. This, in turn, will deliver cleaner, more reliable commuting solutions for Indian cities. The integrated platform now offers end-to-end capabilities, spanning manufacturing, ownership, operations, and lifecycle support through its partnership with PMI Electro.

“As our cities grow and mobility needs evolve, clean, efficient, and accessible public transport will play a central role in shaping a more sustainable future. Alongside KKR, the company will continue to focus on responsible scale-up and expanding its presence across Indian cities,” said Aanchal Jain, chief executive, PMI Electro, and director, Allfleet.

Over the years, KKR has significantly expanded its climate investment portfolio. Since 2010, the firm has committed more than $44 billion toward climate and environmental sustainability initiatives, including investments in Zenobē, CleanPeak, and Avantus.

The companies expect to close the transaction by mid-2026, subject to customary regulatory approvals, thereby marking another milestone in India’s transition toward sustainable transportation.

KKR’s strategic investment in PMI Electro and Allfleet underscores the growing momentum behind electric mobility in India. By combining capital, technology, and operational expertise, the partnership is well-positioned to accelerate the deployment of electric buses and contribute meaningfully to the country’s decarbonization goals while transforming public transportation infrastructure.

Founded in 2021 and headquartered in Bengaluru, the company focuses on developing advanced technologies for the green hydrogen sector. Specifically, Newtrace has created Voltagen, a proprietary advanced electrode technology designed for alkaline water electrolyzers. The technology significantly improves energy efficiency, extends the operational lifetime of systems, and reduces the total cost of hydrogen production.

Moreover, Voltagen works as a drop-in replacement for existing electrodes. Therefore, electrolyzer manufacturers and hydrogen producers can upgrade system performance without redesigning their current infrastructure. In addition, the company has commercialized membraneless electrolyzer technology as part of its broader innovation platform.

Entrepreneurs Prasanta Sarkar and Rochan Sinha founded Newtrace, and both founders bring deep expertise in electrochemistry, materials science, and industrial-scale technology development. Furthermore, the company operates from a 30,000-square-foot technology center in Bengaluru, where a multidisciplinary team of more than 45 engineers and scientists drives research and development.

The startup also continues to strengthen its intellectual property portfolio through multiple patent applications. At the same time, it has gained recognition under the National Green Hydrogen Mission in India. Additionally, the company presented its technology to global audiences, including a showcase before Narendra Modi during National Startup Day 2026.

“Green hydrogen’s cost problem is fundamentally a materials and manufacturing challenge,” said Prasanta Sarkar, CEO and Co-Founder of Newtrace. “Voltagen represents a new materials foundation that enables the efficiency and durability required to make green hydrogen cost-competitive. This funding allows us to transition from proving the science to scaling manufacturing.”

Meanwhile, the company continues to focus on translating its technological innovations into large-scale industrial solutions. “We built Newtrace to address the most critical and underinvested component of the electrolyzer stack,” said Rochan Sinha, CTO and Co-Founder of Newtrace. “Our focus now is on translating our technology into reliable, scalable manufacturing that can serve the global hydrogen economy.”

The company plans to use the newly raised capital to expand its manufacturing and engineering capabilities. Additionally, the funding will support pilot-scale manufacturing, customer validation programs, and supply agreements with industry partners. Consequently, Newtrace expects to begin initial commercial deliveries of Voltagen electrodes within the next 12 months.

Newtrace’s latest funding round highlights growing investor confidence in deeptech innovations aimed at accelerating the green hydrogen economy. By advancing electrode technology that improves efficiency and lowers production costs, the company positions itself as a key enabler of scalable hydrogen infrastructure. As demand for sustainable energy solutions rises globally, Newtrace’s Voltagen technology could play a crucial role in making green hydrogen commercially viable.

Specifically, the funding round comprises Rs 15.25 crore in equity for a 13.2 percent stake, along with Rs 5 crore in debt financing. Leading the equity round, Red Bricks Capital invested Rs 8.9 crore, while Auxan followed with a Rs 2.5 crore commitment. Additionally, other investors such as Upaya/Chakra Rel, Binge/Aryan, and individual backers including Ankur Mittal, Velumani, Nitish M, and Arti G participated in the round.

Founded by Tushar Suhalka, ReGrip directly addresses India’s growing end-of-life tyre challenge through a technology-enabled waste management platform. To begin with, the company evaluates discarded tyres to determine whether reuse or recycling offers the most value. ReGrip refurbishes usable tyres and resells them at nearly 50 percent lower prices, while still offering up to 80 percent of usable life. Meanwhile, tyres that cannot be reused are processed into crumb rubber, which serves industries such as automotive, construction, footwear, fitness, and manufacturing.

Beyond recycling, ReGrip also strengthens its waste-to-energy capabilities. In particular, the company produces tyre-derived fuel and bio-crude oil as alternative industrial fuels, effectively positioning itself at the intersection of recycling, clean energy, and circular manufacturing.

At present, ReGrip operates across 24 locations and collaborates with more than 400 scrap dealers, making it the largest organised tyre waste collector in India. Furthermore, the company holds India’s largest licence to operate a tyre-to-fuel waste-to-energy plant, reinforcing its leadership in the sector.

Looking ahead, ReGrip plans to deploy the newly raised capital to expand processing capacity, strengthen collection infrastructure, and scale operations into new geographies. At the same time, the company aims to integrate informal scrap networks into a formal, compliant, and transparent value chain, thereby improving efficiency and traceability across the ecosystem.

Meanwhile, Bharat Ke Super Founders, hosted by Suniel Shetty, continues to play a pivotal role in supporting growth-stage startups. The platform enables founders to access structured equity and debt investments that prioritize scalability, sustainability, and long-term value creation.

In addition to BII, the fund also counts global investors such as Allocator One (Germany), Cisco Foundation (US), and Vitality Capital Partners (Australia). Moreover, domestic and global family offices supporting the fund include Anand Mahindra, Meher Pudumjee of Thermax Group, JM Financial, Vimson: Shivanand Salgaocar Group, and Pramit Jhaveri, former CEO of Citibank India.

With a clearly defined investment thesis, Theia Ventures Fund I plans to back 18–20 early-stage startups that are developing innovative technologies to decarbonize critical sectors, such as heavy industry, manufacturing, material science, mobility, and supply chains. Furthermore, the firm typically invests between $500,000 and $1 million in each startup, while reserving over half of the fund for follow-on investments.

Through Fund I, Theia Ventures has already invested in Sarla Aviation, an Accel-backed electric air taxi startup, and led a pre-seed round in Climitra Carbon, a biocoal company serving the steel industry and founded by a Stanford GSB, IIT-Bombay, and IIT-Dhanbad team. Additionally, the fund has backed two more companies focusing on precision fermentation (biotech) and AI-based energy data modelling, and it plans to announce further investments in early 2026.

The fund expects to complete its final close by the end of the current financial year.

Priya Shah, Founder & Managing Partner of Theia Ventures, said, “We are thrilled to officially announce Theia’s first close and to partner with BII as our anchor investor, as well as other incredible stakeholders. Theia’s objective remains clear: to unlock much-needed, early stage capital towards Indian companies building transformative technologies to disrupt the energy status quo.”

“Petroleum or coal-based products and processes are now being rapidly replaced by cleaner fuels and energy sources, which presents a huge opportunity for startup innovation and growth, particularly in emerging sectors such as carbon removal, novel materials, data centres, clean mobility, renewable energy and biotech. It’s fantastic to see international capital flowing into India to support talented founders building bold solutions that will shape the future,” Shah added. 

Shilpa Kumar, Managing Director and Head of Asia at BII, said, “Through our partnership with Theia, we are delighted to support early-stage companies developing unique climate technologies that can protect the planet and vulnerable groups in India. The climate emergency affects every aspect of life. Our investment will help accelerate technology development to reduce emissions and enhance climate resilience among low-income groups. This is aligned with our goal of contributing to India’s clean energy transition.”

VinFast Auto India has signed agreements with 13 dealer groups to launch 32 dealerships across 27 cities, as part of its broader goal to establish 35 dealerships nationwide by the end of 2025.

The initial rollout will cover major cities such as Delhi, Gurugram, Noida, Bengaluru, Chennai, Hyderabad, Pune, Jaipur, Ahmedabad, Kolkata, Cochin, Bhubaneswar, Thiruvananthapuram, Chandigarh, and Lucknow.

Each outlet will operate under the 3S model—sales, service, and spares. The EV Maker company is also set to open pre-bookings for its two electric SUV models, the VF 6 and VF 7, on July 15, ahead of their expected launch during the upcoming festive season.

In a separate development, VinFast has entered into an agreement with Indian clean-tech firm BatX Energies to manage battery recycling and repurposing operations across India. BatX specializes in battery waste management and metal recovery.

The partnership will cover high-voltage battery recycling for both VinFast’s manufacturing facility and its after-sales operations. The process will focus on recovering valuable materials such as lithium, cobalt, and nickel, which can be reintegrated into the battery production cycle.

This collaboration aims to establish a localized framework for the sustainable management of end-of-life EV batteries.

VinFast is also building a manufacturing facility in Tuticorin, Tamil Nadu, with an investment of approximately $500 million. The plant will become operational in the first half of 2025.

Once completed, the facility will have an annual production capacity of up to 1.5 lakh electric vehicles. In addition to catering to the domestic market, VinFast also plans to export vehicles from this plant to regions including the Middle East and Africa.

The fund has garnered support from a diverse range of investors, including top-tier corporates, institutional investors, and family offices such as Renault Group, BNP Paribas Group, the European Investment Fund (EIF), Edenred, PSA Ventures (part of the Port of Singapore Authority), ComfortDelGro, Capricorn, and Candriam.

The fund’s diverse investor base includes Tier-1 corporates, institutional investors, and family offices in Europe and Asia. Notable LPs include Renault Group, BNP Paribas Group, Bpifrance, European Investment Fund (EIF) and Capricorn. 

“My main message is that sustainable transportation is a valid topic for a VC in 2025,” Yann Marteil, Co-founder and Managing Partner of Shift4Good, said.

The fund significantly exceeds the €115 million average for first-time cleantech European VC funds (2020-2024). It is one of just four first-time, clean-tech-focused funds in Europe to surpass €170 million during this period. 

“We are the largest fund dedicated to that cause but probably one of the only ones specializing in impact and sustainable transportation,” said Yann. 

Further, he commented, “This is quite a surprise for us because we have a tremendous quantity and quality of deal flow in all Europe, but also the rest of the world, and the requests that we’re getting from the large corporations to adopt this solution and to get insight about what we see, well the demand is enormous. So I think there is a strong, strong, strong current pushing us, and this is why we’ve been able to raise €220 million when no one is raising so far.”

Shift4Good launched the fund in 2022 and has already invested in 13 companies. These include London-based Laka, an insurance provider for micro-mobility; Helsinki-based Vapaus, a leader in corporate mobility solutions; and Paris-based Shippeo, which provides real-time supply chain visibility to optimize logistics and reduce emissions.

With the fund’s growth, Shift4Good seeks to invest in 10-15 additional startups across Europe, the UK, and Southeast Asia. The company focuses on Series A and Series B investments, with funding amounts ranging from €4 million to €20 million.

Shift4Good’s successful closure of its €220M fund underscores the growing investor confidence in sustainable transportation innovation. With a diverse group of backers and a strategic focus on high-impact startups, the fund is well-positioned to accelerate the development of sustainable mobility solutions across Europe, the UK, and Southeast Asia. As Shift4Good continues to seek promising companies for investment, its commitment to advancing cleantech and reducing emissions will play a key role in shaping the future of sustainable transportation.

Established in 2017 by co-founders Amrit Om Nayak and Krunal Patel, Indra addresses water treatment challenges in industrial and sewage sectors through its patented electro-chemical oxidation and coagulation process.

Indra’s technology utilizes ionic reactions to eliminate pollutants such as unwanted substances, heavy metals, suspended solids, phosphorus, fats, oil, grease, pathogens, and dissolved organics from wastewater. Their proprietary water treatment solution is a plug-and-play system that requires 90% less space than current solutions and can recover up to 99% of the treated water.

With a primary focus on industrial effluents from sectors like textiles, steel manufacturing, pharmaceuticals, chemicals, and sewage from hotels and commercial properties, INDRA’s impact spans critical areas where effective water treatment is essential. Having treated over a billion liters of water, INDRA’s water treatment assets have the potential to deliver up to 75% net carbon savings. The company asserts that its solutions can save up to 90% of space, produce 70% less sludge, require 90% less human intervention, and result in a 35% reduction in life cycle costs.

Estimates suggest that the current size of the Indian water treatment market is $12 billion, and it is anticipated to reach $20 billion by 2030.

Amrit Om Nayak, co-founder and CEO of INDRA, said, “Solving the wastewater treatment challenge needs continuous innovation and relentless commitment. I am very excited that Mela Ventures shares the same passion for sustainable solutions. This partnership gives us a lot of conviction to confidently pursue and deliver on our promise to drive the world’s transition towards sustainable water management.”   

N. Krishnakumar, managing partner at MelaVentures, said, “Our investment in INDRA aligns well with sustainability, which is one of our key investment focus themes. Wastewater treatment is a pressing problem demanding urgent global attention. The team led by Amrit and Krunal is very passionate about wastewater management. I wish the team the best in making the world self-sufficient when it comes to water usage.”

Notable investors in IAN Alpha Fund include SIDBI (Small Industries Development Bank of India), SRI Fund, and various investors from IAN Fund I.

Saurabh Srivastava, Co-Founder, Indian Angel Network, said, “The Alpha Fund will be instrumental in achieving our vision of investing in over 500 startups and creating 5 lakhs jobs by 2030, nurturing a thriving ecosystem, and driving substantial economic growth while shaping a brighter future for the entrepreneurial landscape in India.”

The Alpha Fund, registered under SEBI as an AIF Category II, concentrates on sectors like clean tech, health tech/bio, fintech, deep tech, spacetech, consumer, agri-tech, cybersecurity, hardware, and robotics. 

With a mission to invest Rs 5,000 crores in 500 startups and generate 5 lakh jobs, the IAN Alpha Fund aligns with the broader goals of the IAN Group. The IAN group has been instrumental in promoting Indian innovation globally, having invested over Rs 900 crore in 250 startups. These startups now have a combined valuation exceeding $9 billion, as per a statement from the IAN group.

Padmaja Ruparel, IAN Co-founder and Senior Managing Partner of the IAN Alpha Fund, said, “We intend to not only focus on India’s metros to harness, but also have a keen eye on tier 2 and 3 cities, where untapped potential and creativity abound and where we have already had some great successes. Female founders will also be an area of focus”.

The IAN Group comprises the IAN Angel Group, BioAngels, and IAN Fund I, representing the initial fund in the series of VC Funds. This structure empowers entrepreneurs to secure funding ranging from Rs 50 lakhs to Rs 50 crores. Quality investors associated with the group not only provide financial support but also offer mentoring and facilitate global market access for entrepreneurs.