Two Point O Capital raises $6.3 mn in funding led by Omnivore

Climate financing platform Two Point O Capital has raised USD 6.3 million (about ₹52 crore) in a funding round led by venture capital firm Omnivore, the company said on Thursday.

Multiply Ventures, RTP Global, GrowX, Spectrum Impact, and a group of marquee angels also participated in the funding round.

"Two Point O Capital, a climate financing platform for businesses, including MSMEs and rural enterprises, has raised USD 6.3 million in Seed funding," the company said in a statement.

The startup was founded earlier this year by Archit Mehrotra, Karan Bhutani, and Manya Ranjan, with Shashidhar Reddy joining recently.

The founding team has combined experience of over 70 years from leading firms such as KKR, McKinsey, Shell, BP, Honeywell, ReNew, Sterlite Power, and GIC, the statement said.

Two Point O provides debt financing within the distributed clean energy sector by catalysing investments through innovative financial solutions.

"With this funding, Two Point O will strengthen its tech-enabled platform to source, underwrite, finance and monitor distributed projects in clean energy segments, such as solar rooftops, energy efficiency equipment, and wastewater treatment," the statement said.

The company plans to work with various operating and financial partners to build a high-quality portfolio and manage it through its lifecycle on this platform.

"Two Point O's innovative approach to climate financing has the potential to significantly accelerate India's clean energy transition, with special focus on the underserved sectors, such as rural and agriculture," Omnivore investment director Abhilash Sethi said.