Two Point O Capital raises $10 million led by Transition Venture Capital

Two Point O Capital has raised $10 million, led by Transition Venture Capital (TVC). Inc42 put the amount at nearly ₹95 Cr. The round was first reported as Series A by Inc42. Existing investor Omnivore and angel investors Chiranjeev Singh Saluja and Sudhir M Reddy also took part. The Economic Times first reported that the valuation was not disclosed, and that the company is Mumbai-based.

Two Point O finances rooftop solar, battery energy storage systems (BESS), energy efficiency and wastewater treatment for commercial and industrial customers. It was founded by Archit Mehrotra, Karan Bhutani, Manya Ranjan and Shashidhar Reddy. Bhutani is co-founder and CEO. The company plans to enter battery energy storage and grow in its current areas. It is targeting sectors such as data centres, automotive, pharma and healthcare.

Inc42 first reported that the startup raised over $6 Mn in 2024 through equity and debt. The company has signed on around 25-30 large customers, among them Premier Energies, Godrej, JK Tyre, Morepen Pharma, Wipro and Phoenix Mills. Inc42 also first reported that assets under management rose 1.5X from one quarter to the next across the past three quarters. Within the next two years or so, it aims to reach AUM of $75 Mn to $100 Mn.

Bhutani said, in remarks first reported by Inc42: "There was a lot of capital that was getting pumped into utility-scale, grid-scale projects. But there wasn’t enough capital inflows into the distributed or decentralised energy projects, to put it simply, for industries and buildings." Yashodhara Bakliwal, vice president, investment, at TVC, said, as first reported by The Times of India: "Two Point O removes the capex barrier, accelerating the adoption of clean energy solutions."