Pi Green Innovations, a cleantech firm, has raised approximately $4.5 million in Series A funding. The Opus Consulting Investment Fund led the round, which raised $4.3 million. Other key investors took part in the round as well. Harshal Morde, director of Morde Foods, had previously provided $300,000 in startup finance.

According to a recent study conducted by Dalberg Advisors in collaboration with Clean Air Fund and the Confederation of Indian Industry (CII), the economic cost of air pollution in India is estimated to be around $95 billion. “The problem is not only air pollution, but also the sustainability of existing solutions. Thus, with our filterless technology, we have a huge opportunity to develop and implement solutions for the reduction of particulate matter (PM) emissions on a sustainable basis. With patents in over 30 countries including USA, UK, China and EU, our technology is 'Made in India’ for the global market. We are grateful to our investors for their confidence in our mission,” said Irfan Pathan, Co-founder and CEO, Pi Green.

The funding will be used to build a full-fledged R&D centre for product development, testing, and certification, as well as to discover novel methods to combat diverse types of pollution. It would also invest in expanding its manufacturing capabilities and expanding its sales network across India. In addition, the corporation is looking into overseas markets.

“Opus’ philosophy is to invest in innovative solutions and products, with Pi Green being the latest and very exciting addition to the list. It is a Make in India and a Made in India solution within the engineering and manufacturing industry. Pi Green has a lot of potential to showcase India as a pioneer in clean air technology,” says Ramesh Mengawade, Founder – Opus Consulting.

Pi Green uses cutting-edge technology to create low-maintenance, cost-effective solutions for reducing particulate matter emissions (PM 2.5/10) at the source and in the environment. JCSS Consulting provided Pi Green with advice.