Greenjoules raises Rs 62 Cr from Amazon and Singularity fund

Greenjoules has raised Rs 62 Cr, about $6.5 Mn. Amazon.com NV Investment Holdings LLC, the investment holding entity, led with Rs 45 Cr. The Singularity Strategic Autonomy Fund put in Rs 17 Cr. Rs 45 Cr plus Rs 17 Cr is Rs 62 Cr exactly, so the round reconciles with no residual.

The company converts agricultural residues into renewable fuels. The output is compatible with existing diesel engines and industrial equipment. Stated applications extend to sustainable aviation fuel, green hydrogen and biomethane.

Greenjoules was founded in 2018. It previously raised $4.5 Mn in 2021 from Blue Ashva Capital.

Why drop in fuel matters to a supply chain

The thing that stalls logistics decarbonisation in India is not the fuel. It is the vehicle. Replacing a diesel fleet means fresh capital, charging infrastructure at every depot, driver retraining and a resale market for used electric trucks that barely exists. Most transporters cannot fund that changeover on the timeline their brand customers keep writing into RFPs.

A drop in fuel skips the fleet entirely. Same truck, same engine, same depot, same driver. The emissions number moves without a single vehicle being retired. That is a very different implementation problem, and a much cheaper one, than an electric transition.

The catch is supply. Agricultural residue collection is seasonal and regional, so availability near your lanes matters more than the headline capacity of any producer.

If a marketplace or a large customer is pushing you on Scope 3 numbers, ask your transporter two questions. What fuel blend do they run today, and can their depots accept a drop in alternative. That answer costs you an email. A fleet replacement plan costs a great deal more.