Wednesday, 1 July 2020

Aerostrovilos, an automotive startup, raises funding from Mumbai Angels

Aerostrovilos, an automotive startup, raises funding from Mumbai Angels

Aerostrovilos, an automotive company has raised funding from Mumbai Angels Network. Aerostrovilos Energy is an IIT Madras incubated startup that is building India’s first indigenous Gas Turbine for power generation.

Aerostrovilos is developing a micro Gas turbine as a one-stop solution for vehicles and generators to solve the air pollution problem. Their patented technology brings in extremely low pollutant emissions of NOx, CO and PM.

Rohit Grover, Co-Founder of Aerostrovilos said, "MA has helped us in raising funds seamlessly. With these funds, we plan to complete the full POC of Turbine Generator. Gas Turbines are the future and we are standing at the cusp of creating a revolution where our fuel flexible MGTs will become mainstream replacing the existing DG sets for the backup power”.
Kartik Kajaria, MA member sharing his thoughts on this investment, “Aerostrovilos has true potential to disrupt the heavy vehicles segment provided it utilises the expertise of the founders and adheres to strict timelines in the development of their game changing TEV technology”.
Nandini Mansinghka, Co-promoter and CEO Mumbai Angels Network, commented, “Aerostrovilos is building Gas Turbines generators which have the cleanest emissions, and this technology will be indigenized in our country. We are happy to have Aerostrovilos Energy as a part of our portfolio as we see a dynamic shift in the automotive sector”. 

About Mumbai Angels Network: 

Started in 2006, Mumbai Angels Network (MA Network) is India’s premier platform focused on new venture investing. The network is today 450+ members strong, across 9 chapters (Mumbai, Delhi, Bangalore, Kolkata, Hyderabad, Goa, Pune, Jaipur, Chennai). It has a 140+ strong portfolio with 45+ exits and has invested 150+ crores.

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