This expansion is aimed at streamlining biomass collection and enhancing rural entrepreneurship envisages a total investment of Rs 75 Crore in FY 2024-25.
BiofuelCircle, a leading digital platform for the bioenergy supply chain, is expanding its reach into rural India to build sustainable biomass aggregation infrastructure. The company plans to more than double its rural warehouses from 15 to 35, across key agricultural states including Uttar Pradesh, Haryana, Maharashtra, Gujarat, and Andhra Pradesh. The company’s mobile platform will deploy GPS and Telematics based apps to promote rural biomass businesses. This expansion is aimed at streamlining biomass collection and enhancing rural entrepreneurship envisages a total investment of Rs 75 Crore in FY 2024-25. BiofuelCircle successfully completed an equity round that raised Rs 45 crore, led by Spectrum Impact; and has signed a term loan agreement with Jio Finance for the balance investment.
The initiative addresses India’s paddy stubble burning issue and follows BiofuelCircle’s ‘Parali Se Ujjawal Bhavishya’ program in Barabanki, Uttar Pradesh. The program has deployed over 40 advanced, digitally integrated machines to collect and process stubble, preventing approximately 30,000 MT of agricultural residue from being burned across 25,000 acres. The Ramnagar Biomass Bank™ will benefit more than 5,000 farmers across 30 villages.
Suhas Baxi, Co-Founder and CEO of BiofuelCircle, stated, “We aim to connect over 70,000 farmers and aggregate more than 250,000 metric tonnes of biomass by the end of FY 2024-25. Our platform provides farmers access to modern infrastructure, turning agricultural waste into a valuable resource and contributing to a circular economy.”
The company’s model supports rural entrepreneurship by engaging over 1,000 tractor-driving rural partners. Biomass aggregation is projected to triple from 232,000 MT in FY 2023-24 to more than 800,000 MT by FY 2024-25. BiofuelCircle plans to operate in 10 states by March 2025.
“We are creating a participatory ecosystem where rural communities can drive their economic growth,” added Baxi. “By providing farmers with easier market access for their biomass, we’re helping them turn waste into wealth while addressing a critical environmental challenge.”
BiofuelCircle’s digital platform also supplies Fermented Organic Manure to farmers, supporting sustainable agricultural practices and positioning the company as a leader in India’s transition to cleaner energy solutions.
BiofuelCircle is proud to be ranked 8th on LinkedIn’s 2024 list of India’s Top Startups, the first biofuel company to receive this honor. This recognition highlights our commitment to transforming the biofuel supply chain and driving sustainable energy solutions across India.
