Two Point O Capital (TW.O), a Gurugram-based platform that finances and deploys clean energy assets for factories and commercial buildings, has raised $10 million (about ₹95 crore) in a Series A round led by Transition Venture Capital. Existing investor Omnivore and angel investors Chiranjeev Singh Saluja and Sudhir M Reddy also joined the round, the company said on 2 November 2026.
The raise puts fresh capital behind one of the less crowded corners of India’s lending market: financing for mid-sized rooftop solar, battery storage and efficiency projects that are too small for project-finance desks and too technical for a typical business loan. It follows the startup’s earlier raise of more than $6 million in equity and debt in 2024.
Where the Two Point O Capital Funding Will Go
According to the company and reports in Inc42 and Entrackr, the bulk of the new money will be used to finance clean energy assets for commercial and industrial (C&I) customers. The rest will go into:
- Battery energy storage systems (BESS): a push into storage alongside its existing solar, energy efficiency and wastewater treatment lines
- Technology: strengthening its underwriting and asset-monitoring stack
- Hiring and expansion: building teams to scale across India and enter the SME segment
The company is targeting assets under management (AUM) of $100 million over the next couple of years. It says its AUM has grown about 1.5 times quarter on quarter in each of the last three quarters.
A Lending Tech Model for Distributed Clean Energy
Founded in 2024 by Karan Bhutani, Archit Mehrotra, Manya Ranjan and Shashidhar Reddy, Two Point O sits at the meeting point of lending technology and B2B clean energy. It offers several financing structures: a wholly owned non-banking financial company (NBFC) subsidiary handles loans, while a separate operating entity offers leases and pay-per-use service models.
The technology layer is central to the pitch. The startup says its proprietary, AI and machine learning-driven underwriting engine assesses a project’s technical specifications, expected performance and the customer’s credit profile together, so it can issue a techno-commercial proposal within 24 to 48 hours. Every deployed asset is IoT-enabled, and the live data is used for preventive maintenance, performance tracking and verification of outcomes.
Two Point O does not install or maintain equipment itself. It works through original equipment manufacturers (OEMs) and engineering, procurement and construction (EPC) partners, overseeing them through contracts and its monitoring platform. Bhutani described this as a light-touch model that helps the company scale.
“There was a lot of capital that was getting pumped into utility-scale, grid-scale projects. But there wasn’t enough capital inflows into the distributed or decentralised energy projects,” Bhutani, co-founder and CEO, told Inc42.
Clients and Growth So Far
The company says it has onboarded around 25 to 30 large customers, including Premier Energies, Godrej, JK Tyre, Morepen Pharma, Wipro and Phoenix Mills. Its strategy has been to win big-ticket accounts and then cross-sell additional assets, which keeps customer acquisition costs low. Bhutani estimates the existing client base could generate ₹400 to 500 crore in transactions over the next two to three years.
The model echoes a wider trend of fintechs moving into green asset finance. Last week, digital lender Fibe tied up with Hygge Energy to digitise rooftop solar financing for households, while insurers and lenders are paying closer attention to climate risk across India’s renewable energy sector.
Why It Matters for India’s Fintech and Lending Market
Distributed clean energy is a credit problem as much as an engineering one. Small and mid-sized installations need lenders who can judge both the asset’s output and the borrower’s ability to pay, then track performance for years. Platforms that combine data-led underwriting with IoT monitoring could unlock a segment that banks and traditional NBFCs have largely left alone.
The risks are real too. Scaling across several asset classes demands consistent underwriting and asset performance, and the planned SME expansion brings tougher credit assessment and regulatory questions. Early-stage fintech funding remains selective, with recent cheques going to focused plays such as AI trading platform Tradl’s $4.1 million seed round.
Key Takeaways
- Two Point O Capital has raised $10 million in a Series A led by Transition Venture Capital, with Omnivore and angels participating.
- Funds will finance C&I clean energy assets, expand into battery storage, strengthen technology and support an SME push.
- The startup runs an NBFC arm for loans plus a leasing entity, backed by an AI underwriting engine and IoT asset monitoring.
- It targets $100 million in AUM over the next couple of years.
FAQ
How much did Two Point O Capital raise?
It raised $10 million, or nearly ₹95 crore, in a Series A round led by Transition Venture Capital.
What does Two Point O Capital do?
It finances and deploys clean energy assets such as rooftop solar, battery storage, energy efficiency and wastewater treatment systems for commercial and industrial businesses, through loans, leases and service models.
Who founded Two Point O Capital?
Karan Bhutani, Archit Mehrotra, Manya Ranjan and Shashidhar Reddy founded the company in 2024.
