GPS Renewables raises ₹635 crore in Series C Funding

BENGALURU, India, June 11, 2026 /PRNewswire/ -- GPS Renewables (GPSR), a leading full-stack renewable oil and gas company, has raised ₹635 crore in Series C Funding.

The Series C round comprises ₹125 crore in equity funding led by PixelSky Capital, with participation from the Spectrum Impact Family office and other investors. This is further coupled with a tie-up for equity under the asset hold-co, Arya of ₹200 crore from a leading Korean conglomerate. Earlier, a similar round of tie-up for the asset platform business with IOC was done for ₹310 crore from Sojitz Corporation.

The freshly induced capital will support the company's next phase of growth, strengthen its financial position, and accelerate the execution of a growing pipeline of large-scale compressed biogas (CBG) projects across India. A portion of the funds will also be invested in GPSR Arya, the company's project development platform, to support ongoing and upcoming projects.

Mainak Chakraborty, Co-founder and CEO, GPS Renewables said, "The capital raise is a testament of the growing potential of the Renewables Natural Gas sector and a step towards contributing towards an energy secure nation. The current fundraise comes at a time when we are focused on scaling large-scale bioenergy infrastructure projects across the country. This capital enhances our execution capabilities, and positions us well to deliver on a growing portfolio of projects. As India accelerates its transition towards cleaner fuels, we remain committed to building the infrastructure required to support that transformation."

"The capital raise allows GPS group to fortify its balance sheet and is a step towards funding its capital management plan. The capital will allow us to leverage further for the EPC business as well as invest in GPS Arya, our asset platform business," Parag Parikh, Group CFO GPS Renewables and CEO, Arya added.

Zerin Rahman, Managing Partner, PixelSky Capital said, "GPS Renewables has consistently shown a highly disciplined approach towards scaling bioenergy infrastructure in India. Their proven track record of consistently delivering and being profitable since inception gave us a lot of confidence in their technology and execution capabilities. We look forward to supporting them in their next phase of growth."

Akshay Panth, Chief Investment Officer, Neev Funds said, "GPS Renewables is a compelling example of the role catalytic, growth-stage climate capital can play in shaping nascent sectors. SVL-SME Fund is proud to continue backing the GPS team, having witnessed their impressive journey in building a resilient bioenergy platform. GPSR's expanding portfolio in Sustainable Aviation Fuel (SAF), positions them strongly to deliver large-scale decarbonisation impact to solve India's energy transition and security challenges. The subsequent mobilization of global institutional and commercial capital has validated our conviction in the untapped potential of the biogas sector and quality of the GPS team. We look forward to supporting GPS Renewables' next phase of growth."

Over the past decade, GPS Renewables has built capabilities across technology, software, design and engineering, EPC, operations and maintenance, and project development. Today, the company is an 800+ member strong organization with annual revenue of approximately ₹1,000 crore.

GPS Renewables has delivered several industry-first projects, including Asia's largest municipal solid waste-based CBG plant in Indore, one of the world's fastest-executed CBG plants in Barabanki, and the upcoming CBG complex in Kakinada, which is expected to be among the largest globally.

The company's current pipeline includes more than 30 operational or near-complete projects, with visibility on over 200 CBG projects being developed in partnership with oil marketing companies. GPS Renewables is also the only Indian company with joint ventures with both Indian Oil Corporation and Bharat Petroleum Corporation Limited for the development of CBG infrastructure.

The company recently secured an EPC contract from NTPC Limited to construct India's first Ethanol-to-Jet (ETJ) Sustainable Aviation Fuel (SAF) plant.

About GPSR (GPS Renewables) Group

Headquartered in Bengaluru, GPS Renewables ("GPSR") is a leading full-stack, renewable oil & gas company offering technology and project solutions for climate-positive biofuel projects. Starting from captive biogas plants, GPSR has scaled up to set up some of the world's largest RNG plants. In 2022, GPS Renewables launched GPSR Arya Pvt Ltd, to commission BOO (Build-Own-Operate) projects, augmenting its climate impact ambitions.

GPSR has formed joint ventures with Indian Oil, Bharat Petroleum, and Oil India to build compressed biogas (CBG) plants across India. These plants will process agricultural and organic waste, reduce carbon emissions, and support the government's CBG initiative.

Website: https://gpsrenewables.com/

About SVL-SME Fund

SVL-SME Fund (Neev II) - is a private equity fund managed by SBI Ventures Limited, (a subsidiary of State Bank of India; and manages ~INR 300 Bn across different strategies including climate-tech investments, real estate and Fund of funds). Neev II aims to bridge the private equity gap required for India's transition towards climate resilience and low emissions. The fund invests growth capital in high impact and commercially attractive business models across priority sectors including clean energy, circular economy, energy efficiency and sustainable infrastructure. https://sbiventures.co.in/funds-managed/neev-fund-ii/