# Husk Power Systems Pvt.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/husk-power-systems-pvt

- Industry: Power & Utilities
- Headquarters: Patna, India
- Website: www.huskpowersystems.com/
- Total disclosed funding: $52M
- Latest round: Series D (Oct 23, 2023)
- Investors on record: 13

## About

Husk Power Systems Pvt. Ltd. is an Indian company specializing in hybrid renewable energy solutions, utilizing solar photovoltaic technology and biomass gasification to provide sustainable electricity to off-grid and weak-grid communities.Husk Power Systems Pvt. Ltd., founded in 2008 and headquartered in Patna, India, focuses on delivering renewable energy solutions. The company has completed 10 deals and has raised a total of USD 25.00 mn over its funding history. The latest funding round was a Grant for USD 500,000 received from Acumen in January 2025. The founders of the company include Chip Ransler, Gyanesh Pandey, and Manoj Sinha, with Manoj Sinha serving as CEO.Husk Power Systems provides innovative hybrid power solutions combining solar PV technology with biomass gasification, delivering 24/7 electricity to off-grid and weak-grid communities in Africa and Asia. Their customer base includes approximately 50,000 users, including 10,000 micro, small, and medium enterprises (MSMEs) across over 200 communities, primarily in India and Nigeria. The company aims to address energy needs while facilitating access to essential services such as water, healthcare, and education.In the most recent fiscal year 2023, Husk Power Systems reported a revenue of USD 3,221,298.70 with an EBITDA of USD -881,794.30.Husk Power Systems plans to utilize the recent funding from Acumen to develop a robust pipeline of distributed renewable energy projects and install its first mini-grids. The company aims to acquire necessary government licenses and establish a corporate presence in the Democratic Republic of the Congo (DRC) by January 2025.

## Funding rounds

- Series D, Oct 23, 2023, $25M — U.S. International Development Finance Corporation, Swedfund, Proparco, Shell Ventures, STOA Infra and Energy, FMO: Dutch Entrepreneurial Development Bank
- Series C, Jan 15, 2018, $20M — Swedfund, Shell Ventures, ENGIE New Ventures
- Series A, Oct 25, 2012, $5M — Bamboo Capital Partners, Acumen, Lightrock
- Seed, Apr 2, 2010, $1.3M — IFC Asset Management Company, Bamboo Capital Partners, Acumen, Lightrock
- Seed, Jul 1, 2009, $0.3M — Draper Fisher Jurvetson, Cisco Systems

## Investors

- Draper Fisher Jurvetson (https://capitalatlas.ai/funds/draper-fisher-jurvetson) — Seed
- Cisco Systems — Seed
- IFC Asset Management Company (https://capitalatlas.ai/funds/ifc-asset-management-company) — Seed
- Bamboo Capital Partners (https://capitalatlas.ai/funds/bamboo-capital-partners) — Seed, Series A
- Acumen (https://capitalatlas.ai/funds/acumen) — Seed, Series A
- Lightrock (https://capitalatlas.ai/funds/lightrock) — Seed, Series A
- Swedfund — Series C, Series D
- Shell Ventures (https://capitalatlas.ai/funds/shell-ventures) — Series C, Series D
- ENGIE New Ventures (https://capitalatlas.ai/funds/engie-new-ventures) — Series C
- U.S. International Development Finance Corporation — Series D
- Proparco (https://capitalatlas.ai/funds/proparco) — Series D
- STOA Infra and Energy — Series D
- FMO: Dutch Entrepreneurial Development Bank — Series D