GPS Renewables Secures ₹635 crore Series C Funding
On June 11, 2026, GPS Renewables (GPSR), a Bengaluru‑based full‑stack renewable oil and gas company, announced the closing of a Series C financing round totalling ₹635 crore. The round consists of ₹125 crore of equity capital led by PixelSky Capital, with participation from the Spectrum Impact Family office and other unnamed investors. In addition, the company entered a tie‑up under its asset hold‑co Arya, receiving ₹200 crore from a leading Korean conglomerate. The press release also references an earlier tie‑up for the asset platform business with Indian Oil Corporation, which secured ₹310 crore from Sojitz Corporation.
The newly raised capital is earmarked to fortify GPSR’s balance sheet, fund its capital management plan, and provide leverage for its EPC business. A portion will be allocated to GPSR Arya, the company’s project development platform, to support ongoing and upcoming compressed biogas (CBG) projects. The funding will accelerate the execution of a growing pipeline of large‑scale CBG projects across India.
GPS Renewables currently employs more than 800 staff and reports annual revenue of approximately ₹1,000 crore. The firm 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 an upcoming CBG complex in Kakinada that is expected to rank among the largest globally. Its operational or near‑complete project count exceeds 30, with visibility on over 200 CBG projects under development in partnership with oil marketing companies. GPSR is the only Indian company holding joint ventures with both Indian Oil Corporation and Bharat Petroleum Corporation Limited for CBG infrastructure development.
In a related development, GPS Renewables secured an EPC contract from NTPC Limited to construct India’s first Ethanol‑to‑Jet (ETJ) Sustainable Aviation Fuel (SAF) plant, expanding its portfolio into SAF production.
Executive Comments
Chief Executive Officer and Co‑founder Mainak Chakraborty described the raise as a testament to the growing potential of the renewables natural gas sector and a step toward an energy‑secure nation, emphasizing the timing aligns with the company’s focus on scaling large‑scale bio‑energy infrastructure. Group CFO and Arya CEO Parag Parikh highlighted that the capital strengthens the balance sheet and supports further leverage for the EPC business and investment in the Arya platform. Managing Partner Zerin Rahman of PixelSky Capital praised GPSR’s disciplined scaling and profitability, while Chief Investment Officer Akshay Panth of Neev Funds (SVL‑SME Fund) noted the fund’s continued backing of GPSR’s journey and its expanding SAF portfolio, underscoring the role of growth‑stage climate capital in nascent sectors.
About GPS Renewables
Founded in Bengaluru, GPS Renewables offers technology and project solutions for climate‑positive biofuel projects, having evolved from captive biogas plants to some of the world’s largest renewable natural gas (RNG) facilities. In 2022, the group launched GPSR Arya Pvt Ltd to commission BOO (Build‑Own‑Operate) projects, furthering its climate impact ambitions. The company maintains joint ventures with Indian Oil, Bharat Petroleum, and Oil India to develop CBG plants across India, aligning with the government’s CBG initiative.
About SVL‑SME Fund (Neev II)
SVL‑SME Fund (Neev II) is a private equity fund managed by SBI Ventures Limited, a subsidiary of State Bank of India, overseeing approximately INR 300 billion across strategies that include climate‑tech investments, real estate, and fund‑of‑funds. The fund targets growth capital in high‑impact, commercially attractive businesses within clean energy, circular economy, energy efficiency, and sustainable infrastructure.
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