GPS Renewables Raises ₹635 Crore in Series C Funding to Expand Bioenergy Projects

Bengaluru, June 08, 2026: GPS Renewables (GPSR), a renewable oil and gas company, has raised ₹635 crore in Series C funding to support its growth plans and accelerate the development of compressed biogas (CBG) infrastructure across India.

The funding round includes ₹125 crore in equity investment led by PixelSky Capital, with participation from Spectrum Impact Family Office and other investors. The company has also secured ₹200 crore in equity for its asset holding platform, GPSR Arya, from a leading Korean conglomerate. Earlier, the company had raised ₹310 crore through a similar asset platform partnership with Sojitz Corporation and Indian Oil Corporation.

According to the company, the newly raised capital will be used to strengthen its balance sheet, support ongoing and upcoming CBG projects, and expand its project development platform, GPSR Arya.

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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.”

Parag Parikh, Group CFO, GPS Renewables and CEO, Arya, added, “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.”

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.”

Founded over a decade ago, GPS Renewables has built capabilities across technology, engineering, EPC, operations and maintenance, and project development. The company employs over 800 people and reports annual revenues of around ₹1,000 crore.

GPS Renewables has executed several large-scale bioenergy projects, including a municipal solid waste-based CBG plant in Indore and a CBG facility in Barabanki. Its project pipeline includes more than 30 operational or near-completion projects and over 200 CBG projects being developed with oil marketing companies. The company recently secured an EPC contract from NTPC Limited to build India’s first Ethanol-to-Jet Sustainable Aviation Fuel plant.