Backed by Transition VC, the Mumbai-based startup sets sights on decarbonising 1,000 factories by 2027.
Mumbai-based cleantech startup Promethean Energy has secured $2 million in a pre-Series A funding round, with Transition VC leading the investment. The round also saw participation from Sangam Ventures, Sagana Capital, and Fondation Botnar.
Founded with a mission to decarbonise industrial heating, Promethean is helping manufacturing companies transition away from fossil fuels by offering energy-efficient, low-emission heating systems. Its proprietary technology includes industrial-grade heat pumps, waste heat recovery systems, thermal storage, and AI-powered smart controls—tailored to work in Indian industrial conditions.
The funding will be used to expand Promethean’s product portfolio, build AI-based energy optimisation tools, and grow its footprint across India and Southeast Asia, where energy-intensive industries are actively looking for cleaner solutions.
Promethean’s systems are already in use by major companies including Hindustan Unilever, Godrej Industries, and Raymond Textiles. With a presence in sectors like chemicals, FMCG, steel, and textiles, the company is currently enabling annual CO₂ savings of over 100,000 tonnes.
Speaking about the fundraise, Promethean Energy’s team shared their larger goal: to decarbonise 1,000 factories by 2027. To that end, the startup is preparing for international pilots in Bangladesh, Indonesia, and the Middle East.
Notably, Promethean operates on both CAPEX (capital expenditure) and ESCO (energy service company) models, allowing companies to adopt clean technologies with flexible financial options.
As industrial sustainability moves from aspiration to necessity, Promethean Energy is proving that with the right tech and support, even the heaviest of industries can tread lightly on the planet.
