A Tumkur-based start-up, ArstaEco Pvt Ltd, has raised euro 1,00,000 (Rs 77.8 lakh) from German investor Paul Guire, reports The Times of India. ArstaEco converts agricultural waste into solid fuel (bio-charcoal) and synthetic fuel, which can power turbines and gas generators to produce clean energy. ArstaEco has a facility in Tiptur, Tumkur district, that produces 6,00,000 tonnes of bio-charcoal briquettes and one Mw of power. While the briquettes are used by eateries and in rural homes for cooking, the power generated is consumed internally. The company plans to set up five smaller clean-energy units in the next 18 months in Andhra Pradesh, Maharashtra and Karnataka. These will produce a mix of solid fuel and synthetic fuel. This is the first investment in India by Guire, who has invested in five clean-energy projects around the world.
CommonFloor.com raises $30 mn
Just a few months after raising Rs 64 crore from Tiger Global and Accel India, real estate portal CommonFloor.com has raised another $30 million in a fresh round of funding from Tiger Global. The Bangalore-based startup will invest these funds towards its organic expansion plans. CommonFloor.com aims to have a workforce of 1,500 employees by March 2015, as against 900 now, and at least one million property listing as against around 5,00,000 now.
Matrix invests in Red Monster
Matrix Partners India has invested an undisclosed amount in Red Monster Games India. The company plans to use the first round of institutional funding to build mobile social games for the Indian market. Red Monster is a mobile social gaming company building games focused on the India market. Starting with casino games, it plans to expand into other genres of social gaming, including original IP-led games. "Our vision is to build the largest, mobile-first, social gaming company out of India," said Kunal Kapur, chief executive officer, Red Monster Games.