Mumbai Angels’s Portfolio Company, Aerostrovilos Energy, an IIT Madras-incubated organization, has secured its Seed round of funding of Rs 3.5 crore from Tube Investment of India, a Murugappa Group Company.
Working on developing Micro Gas Turbines (MGT) with the National Centre for Combustion Research (NCCR) at IIT Madras, Aerostrovilos Energy is building an MGT-based powertrain solution for heavy-duty trucks and power generation at reduced costs. The company will be utilizing the funds for the completion of its solution, prototype manufacturing, and a trial run of MGT-based heavy vehicles.
“Aerostrovilos Energy is creating a clean technology solution with lower levels of emissions which has large scale application. We are excited to have been a part of their growth since the time it began as a project and believe that the funding will support product development and launch.” added Nandini Mansinghka, Co-Founder & CEO - Mumbai Angels.
Rohit Grover, CEO of Aerostrovilos Energy, said, ‘’Air pollution levels are soaring across the world, and both corporations and governments are actively looking for clean technology solutions. Gas Turbines have the cleanest emission levels void of any soot or particulate matter. At Aerostrovilos Energy, we are committed to solving this issue through minimal emission turbines. We are thrilled to have secured this round of funding as it will allow us to lay the foundation to achieve our goals.``
