Do More With Reuters
Partner Services

KPCB, Sherpalo invest $8 Mn in clean energy co Kotak Urja

Mon Nov 3, 2008 4:00pm IST
 
Email | Print | | Single Page
[-] Text [+]

By Madhav A Chanchani (VCCircle.com)

KPCB is betting big on cleantech sector internationally, and this will be the first investment in this space in India.

Kleiner Perkins Caufield & Byers (KPCB), Sherpalo Ventures and a US company have invested $8 million in renewable energy company Kotak Urja Pvt Ltd. A top official at the firm confirmed this development to VC Circle. Kotak Urja is now working on projects that could produce up to 5 megawatts of power. It is also involved in manufacturing of various solar appliances as solar water heaters, water pasteurizers, solar drying systems etc.

The company is now focusing on big power projects and plans to use the funds raised for purchase of land and further expansion. Applied Materials, a US-based company, has also invested in Kotak Urja. Applied Materials is a capital equipment producer serving the semiconductor and solar manufacturing industries. They can provide a lot of technical assistance to Kotak Urja in its expansion plans.

The company was formed in 1997 and its chairman is Kamal S Kotak. The firm's CEO is K. Srinivas Kumar. Though not independently confirmed, the firm says in a presentation that its related to Kotak Mahindra Group. Kotak Urja's product range is classified into two segments - solar photovoltaic and solar thermals. It also has exclusive strategic alliances with companies in US, Germany, Netherlands and Canada.

KPCB has invested in the likes of Google, Yahoo, Amazon and others. For KPCB, which is betting big on cleantech sector, this will be the first investment in this space in India. The Silicon Valley VC has a $500 million Green Growth Fund, for which it has partnered with Al Gore. The firm also plans to make cleantech investments from its own flagship funds. KPCB believes that India's electricity deficiency creates a good opportunity for investments in clean energy space.

KPCB, which partners with Ram Shriram's Sherpalo Ventures for India investments, has so far invested in consumer internet firms in India. Some of its investments in India are travel portal Cleartrip, online classifieds firm Infoedge, and mapping portal MapMyIndia.

--Copyright 2008 VCCircle.com. All rights reserved.  Continued...

India Investment Summit 2009
India Investment Summit 2009

Top executives and bankers discuss their own plans and the broader opportunities and challenges for India during the Reuters India Investment Summit in Mumbai and Bangalore.  Full Coverage | Blog 

Hugh Hefner
PLAYBOY SALE
An icon bows to changing times

With his Playboy Enterprises in talks to be sold for about $300 million, the 83 year-old Hugh Hefner will be giving up control over the iconic adult entertainment empire he founded that was instrumental in shaping society's opinions on nudity, sex and free speech.  Full Article 

A man walks past a bronze statue of a bull outside the Bombay Stock Exchange (BSE) building in Mumbai in this March 25, 2008 file photo. REUTERS/Punit Paranjpe/Files
Bubble trouble?

With India's benchmark stock index, the BSE Sensex, at around 17,000 points, are the Indian equity markets looking at a possible bubble?  Commentary 

Market Update

  • IndiaIndia
  • USUS
  • UKUK
  • Asia
  • Most Actives

SPECIAL REPORT

Himangshu Watts
India's food dilemma

Indian farms are failing to attract capital or talent, either from rich landlords or the students who graduate from agricultural universities.  Full Article | Related Story 

showcase

U.S. Recession
U.S. Recession

A trip through the epicenters of the American recession.  Full Coverage 

 
Central Banks Cautious
Central Banks Cautious

Reuters tracks the policies of the world's top central banks as the debate over global economic recovery rages on.   Full Coverage 

 
T P Raman
Column - RBI leads the world

Reserve Bank of India's approach ring-fenced the banking system.   Full Article 

 
Funding Blues
Funding Blues

A popular tactic used by Indian brokerages to raise money for rich clients is likely to be banned.  Full Article 

 
Not Enough Jobs
Not Enough Jobs

Venture capital creates jobs, but not enough.  Full Article 

 
Column - A Sweet Dream
Column - A Sweet Dream

There are good reasons for Ferrero to consider a combination with Cadbury.  Full Article