Welcome Guest

Businessex.Com
Home News IIMA CIIE's Infuse Ventures invests Rs 3.5 crore in Proklean Technologies

IIMA CIIE's Infuse Ventures invests Rs 3.5 crore in Proklean Technologies

Tags: Infuse Ventures, Ministry of New and Renewable Energy, Proklean Technologies, cleantech fund, Ecolibrium Energy, REConnect

June 01, 2015 | COMMENTS ( 0 )

IIMA CIIE\'s Infuse Ventures invests Rs 3.5 crore in Proklean Technologies

IIMA CIIE’s sustainability and cleantech fund Infuse Ventures, which is backed by Government of India’s Ministry of New and Renewable Energy (MNRE) has announced an investment of Rs 3.5 crore for an undisclosed stake in Chennai-based Proklean Technologies Private Limited. 

Proklean manufactures completely natural products of probiotic origin, which can replace or reduce the use of currently used chemicals in various industrial and commercial applications like leather processing, textile processing and household cleaning. All products are sold under the brand name ‘Proviera’. Proklean uses a unique probiotic technology which makes the products 100 per cent bio-degradable, natural and non-toxic.

Founded by Dr. Sivaram Pillai, B. Chandrasekhar and Vishwadeep Kuila, the company has  already  developed  a  suite  of  products  for  customers  in  the  textile  and  leather  processing industries with marquee names in India like Vardhaman Group, Raymond, Mafatlal, Welspun, RSWM, Kapoor  Industries,  JK  Mills,  AVT,  Super  House  and  Upper  India.  Internationally,  Proklean  has customers  in  U.S.A.,  Brazil,  Mexico,  South  Africa, Germany,  Spain,  Hungary,  Turkey,  Thailand, China, Philippines, Australia and Bangladesh.

Dr Pillai, who had been the CEO of SCD Probiotics, USA, and head of the bio-products business at the Murugappa Group, India, prior to founding Proklean, said, “What differentiates our technology from most green technologies is that we do not require any subsidy, either from the government or the customer.  In  fact,  our  products  are  cost  and  performance  competitive  compared  to  traditional chemical products in every application that we serve. Our products save water, processing time and in some cases even energy. This is besides being completely biodegradable.”

“Proklean  has  developed  a  unique  technology  platform  with  wide-ranging  applications  across industries  and  even  in  the  consumer  space”,  said,  Kunal  Upadhyay,  CEO,  Infuse  Ventures.

“Environmental  concerns  from  industrial  effluents  are  on  the  rise  and  we  have  seen  very  few innovative solutions and products to solve this problem. Proklean’s range of products address this major pain point for many industries today”, he added.

Proklean had earlier raised an angel round from Chennai Angels. IIMA-CIIE’s fund Infuse has been investing actively in the cleantech sector and its investments include energy-management startup Ecolibrium Energy, thermal-energy storage startup Tessol, renewable energy services startup REConnect, solar-pumping start-up Surya PowerMagic and geothermal HVAC provider GIBSS, among others.

Please add your comment

Rating
Not readable? Change text.
Enter the characters as seen on the image (case insensitive)
  Notify me of followup comments via e-mail   Subscribe for daily newsletter

Other NEWS

Delhi based startup i2e1 raises $5,00,000

Delhi based startup i2e1 raises $5,...

December 10, 2015

Delhi-based i2e1, a smart network player platform which aims to provide low-cost and free internet to consumers and actionable ana....

Cab aggregators collaborate with state governments to boost entrepreneurship

Cab aggregators collaborate with st...

November 06, 2015

Ola and Uber, cab aggregators have signed agreements with Rajasthan government for skill development and creation of entrepreneuri....

Phase II of startup incubator T-Hub to be operational soon

Phase II of startup incubator T-Hub...

November 04, 2015

Telangana government is planning to expand T-Hub, its ambitious incubator programme, in its second phase with about Rs 150 crore i....

Sabse Technologies receives investment from Ratan Tata

Sabse Technologies receives investm...

November 04, 2015

Global telecom carrier, Sabse Technologies Inc, started by Hotmail Founder Sabeer Bhatia today announced that Tata Sons' Chairman ....

Mobile startup BlackNGreen seeks international expansion

Mobile startup BlackNGreen seeks in...

November 02, 2015

Buoyed by a strong demand for value added services, mobile startup BlackNGreen is eyeing revenue of Rs 350 crore in the next one y....

Startups seek better future under Hay Group's programme

Startups seek better future under H...

October 30, 2015

Global management consultancy, Hay Group will help 100 selected entrepreneurs transform their startups into successful companies o....

Quintype raises USD 3.25 million for product enhancement

Quintype raises USD 3.25 million fo...

October 27, 2015

Quintype, a data-driven publishing company raised USD 3.25 million to enhance product and business development. ....

Hospitality aggregator startup Qik Stay raises $250K

Hospitality aggregator startup Qik ...

October 27, 2015

Delhi-based Qik Stay, a hotel branding and aggregator startup, has raised $250K in seed round of funding from venture capital firm....

Milk Mantra targets a turnover of Rs 150 crore this fiscal

Milk Mantra targets a turnover of R...

October 26, 2015

Odisha-based startup dairy firm, Milk Mantra is targeting a turnover of Rs 150 crore this fiscal.....

Vista Rooms creates app on Instagram, targets tier II & III cities

Vista Rooms creates app on Instagra...

October 23, 2015

Mumbai-based online budget accommodation aggregator, Vista Rooms has created an app-like experience on Instagram where travellers ....

Jiyo Natural receives funding from Indian Angel Network

Jiyo Natural receives funding from ...

October 23, 2015

Indian Angel Network (IAN) has invested an undisclosed amount in Bengaluru-based consumer health food startup, Jiyo Natural.....

​​Vodoo raises USD 1 million from SAIF Partners

​​Vodoo raises USD 1 mi...

October 15, 2015

Deals and price comparison application, Vodoo has raised USD 1 million (around Rs 65 lakh) from SAIF Partners in a seed funding ro....

IBM launches public data centre in Chennai, partners with Nasscom to boost start ups

IBM launches public data centre in ...

October 15, 2015

Technology giant, IBM today launched public data centre in Chennai to tap into growing demand from financial services and governme....

For Nasscom, PPP will boost startups in India

For Nasscom, PPP will boost startup...

October 14, 2015

In the wake of some reservations over the central government creating startup funds, Nasscom's "10,000 startups" Vice President, R....

WalmartLabs to seek partnership with Indian startups

WalmartLabs to seek partnership wit...

October 14, 2015

WalmartLabs, the digital arm of US-based retailing major Walmart Stores, is scouting for startups in India for partnership and wor....