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Murugappa Group Invests in IIT-M Startup

An IIT Madras-based startup Aerostrovilos Energy, has raised around RS. 3.5 crores in as seed round from tube investments of India, a company under Murugappa Group. On initial investment, the Tube investments will own around 25%of interest in Aerotrovilos . Rohit Grover, CEO of Aerostrovolis Energy, says that this last round of funding will allow him to lay the foundation to achieve his company goals.

Currently, the company is working on developing micro gas turbines (MGT) in collaboration with the national center for combustion research (NCCR) at IIT madras. They are also working on developing a powertrain system for heavy-duty trucks and power generation at reduced costs.

The startup plans to effectively utilize all its funds to find new and innovative solutions, prototype manufacturing, and a trial run of MGT-based heavy vehicles. Most of the company’s projects will be funded by the fund collected and investments made by the Murugappa group.

Both the companies have a corner for environment-friendly production as the level of air pollution is increasing all over the world. Therefore, both the companies and cooperation are actively looking for new solutions to clean and produce the safest air to inhale.

Gas turbines produced by the companies have the cleanest emission level and claims to have no soot or particulate matter. Aerostrovolis energy is committed to solving the issue through minimal emissions from their turbines.

What do you think?

Written by Ravi Tilekar


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