Promethean Energy
Industrial heat recovery and thermal energy solutions.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
* | $2.0m | Seed | |
| Total Funding | 000k | ||
Promethean Energy, founded in 2014 by IIT Bombay alumni Rajat Agarwal and Ashwin Krishna K P, designs and manufactures thermal energy and heat recovery solutions aimed at industrial decarbonization. The Mumbai-based company provides systems that capture and reuse waste heat, targeting the reduction of fossil fuel dependency in factories and large commercial establishments. Promethean's core offerings include industrial-grade heat pumps and waste heat recovery systems tailored for India's specific industrial conditions, addressing challenges like water hardness and humidity. Their product portfolio includes solutions like FlowTherm for recovering heat from exhaust gases, CompMate for air compressors, and ChillerMate, which provides simultaneous cooling and heating.
The company serves a diverse client base across sectors such as automotive, FMCG, chemicals, textiles, distilleries, and steel, with notable clients including Hindustan Unilever, Godrej Industries, Raymond Textiles, and SAIL. Promethean operates on both a direct capital expenditure (CAPEX) model and an Energy Service Company (ESCO) pay-per-use model, which guarantees energy savings with minimal upfront investment for clients. Their proprietary systems integrate high-efficiency thermal technology with features like thermal storage, smart controls, and real-time IoT-based energy monitoring to deliver cost-effective and clean heating. The technology reportedly helps clients save over 100,000 tonnes of CO2 emissions annually.
Promethean Energy has secured $2.49 million in total funding over two rounds, with its latest Seed round in May 2025 raising $2 million. Key investors include Transition VC, Sangam Ventures, Sagana Capital, and Fondation Botnar. The company plans to use the capital to expand its product offerings, scale operations, and deepen its presence in India and Southeast Asia, with a goal to decarbonize 1,000 factories by 2027.
Keywords: waste heat recovery, industrial decarbonization, heat pumps, thermal energy solutions, energy efficiency, cleantech, industrial heating, IoT energy monitoring, sustainable manufacturing, thermal storage, carbon emission reduction, air compressor heat recovery, chiller heat recovery, effluent heat recovery, energy service company (ESCO), clean technology, industrial energy savings, advanced manufacturing