Kerala Government Invests INR 15 Cr in Transition VC to Accelerate Energy Transition The investment aims to accelerate the development of startups in clean energy and decarbonisation, aligning with Kerala's ambitious goals of achieving 100% renewable energy by 2040 and net carbon neutrality by 2050.
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Transition VC, a venture capital fund dedicated to energy transition, has announced a strategic partnership with the Kerala Startup Mission (KSUM) aimed at bolstering the growth of startups focused on clean energy and decarbonisation. This collaboration is further strengthened by a significant investment of INR 15 crore from the Kerala state government, marking a vital step towards enhancing sustainable energy solutions in the region.
Raiyaan Shingati, Co-founder and Managing Partner, Transition VC, said, "This INR 15 crore investment is a significant step towards accelerating the energy transition in Kerala. Together, we aim to create sustainable energy solutions, drive innovation, and pave the way for a cleaner and greener future for the state. With this partnership, we are confident that Kerala can become a model for renewable energy adoption and inspire similar efforts across the nation."
The collaboration is designed to provide extensive support to both local and national deep-tech energy transition startups, offering financial backing, strategic guidance, and access to Transition VC's pool of domain experts. This initiative aligns with the Kerala government's ambitious goal of becoming a 100% renewable energy-based state by 2040, alongside achieving net carbon neutrality by 2050.
To facilitate this transition, Kerala claims to have developed robust support systems, including Maker Village, fab labs, IoT labs, and an MSME cluster that provide advanced facilities for startups in the energy sector. The partnership will capitalise on Kerala's strong institutional ties with research hubs, delivering essential support for scaling deep-tech enterprises. Moreover, it aims to leverage the state's natural assets—such as its tropical climate and coastline—to explore innovative hydrogen production methods and boost investments in energy transition technologies like drone applications and marine electrification.
Anoop P Ambika, CEO of KSUM, emphasised the importance of the partnership, stating, "This is a significant step towards achieving the state's sustainability goals. The investment in Transition VC aligns with Kerala's commitment to sustainability, particularly in energy independence."
Transition VC, founded by Shingati and Mohammed Shoeb Ali, has set an ambitious target of offsetting 40 million tons of carbon emissions through investments in breakthrough technologies while delivering financial returns for its limited partners. The Kerala Startup Mission serves as the nodal agency for entrepreneurship development and incubation in the state, reinforcing its commitment to fostering innovation and sustainability.
