Lightrock

Lightrock, previously known as LGT Lightstone Aspada, is a venture capital firm headquartered in Bangalore, India, specializing in growth capital and early-stage investments. The firm focuses on sectors such as fintech, healthcare, agriculture, education, logistics, and essential services, aiming to support companies that address significant global challenges through scalable and technology-driven business models. Lightrock typically invests between $0.5 million and $5 million in companies with annual revenues in the same range. With a portfolio of over 90 high-growth companies across various regions including India, Europe, the US, Latin America, and Africa, Lightrock is committed to backing purpose-driven entrepreneurs. The firm is a subsidiary of the LGT Group Foundation and operates with a dedicated team of over 100 professionals across multiple global offices.

André Aubert

Partner

Kevin Bone

Partner

Matthew Gordon Clark

Partner

Umur Hursever

Partner

Keimpe Keuning

Executive Director

Shakir Merali

Partner

Ashish (Ash) Puri

Growth Investor

Vaidhehi Ravindran

Partner

Pal Erik Sjatil

Global Managing Partner and CEO

Kartik Srivatsa

Managing Partner, India and Global Chief Strategy Officer

Divya Venkatavaraghavan

Principal

Nina Cardelús Vilalta

Investor

Past deals in Electricity

SolarSquare

Series B in 2024
SolarSquare Energy is a residential solar company that specializes in designing and installing rooftop solar panels for homes and small commercial establishments. The company aims to drive the mass adoption of solar energy by converting sunlight into usable electricity, enabling clients to reduce their energy costs and achieve sustainability goals. With a client base that includes over 4,000 homeowners and several Fortune 500 companies, SolarSquare is dedicated to providing solutions that help customers save a minimum of Rs. 2,000 on their monthly electricity bills. Additionally, the company offers maintenance services for its solar systems, ensuring reliability and efficiency for its clients.

H&MV Engineering

Private Equity Round in 2024
H&MV Engineering is a trusted name in the electric power transmission industry. Established in 1997, we have quickly become a leading specialist in high voltage transmission and distribution systems. Our leading position on the market allows us to expand our services worldwide – we’re currently present in Europe and Asia, exploring further possibilities to expand and finding ways to leverage the experience we gain internationally. Our main expertise is in the design and build of substations up to 400kV. We have successfully completed projects across many sectors –transmission and distribution, renewables, data centres, manufacturing and pharmaceuticals to name a few.

Octopus Energy

Private Equity Round in 2024
Octopus Energy is a British energy supplier established in 2015, aimed at revolutionizing the energy market by providing affordable and renewable energy solutions. The company specializes in solar, wind, and tidal energy, focusing on reducing costs and enhancing customer experience. By offering energy utility, generation, and transmission services without long-term contracts, Octopus Energy empowers both businesses and households to offset their carbon emissions and minimize their environmental impact. Through its innovative technology and customer-centric approach, Octopus Energy seeks to contribute to a greener, smarter energy grid in Great Britain.

Sunfire

Series E in 2024
Sunfire specializes in the development and manufacture of systems for producing renewable industrial gases and fuels, including hydrogen and syngas. These alternatives, referred to as e-Gas, e-Fuel, or e-Chemicals, serve as substitutes for fossil fuels like mineral oil and natural gas, integrating seamlessly into existing infrastructures. The company utilizes solid oxide cells for the conversion process, which can also function as generators to provide electricity and heat. Sunfire aims to make regenerative energy from sources such as wind, hydropower, and solar power available consistently, transcending the limitations of intermittent energy generation. Their innovative electrolyzers leverage both alkaline and solid oxide technologies, enabling sectors like chemical, fuel, and steel industries to effectively transition to renewable energy sources.

M-KOPA

Private Equity Round in 2023
M-KOPA is a company that offers connected asset financing solutions aimed at underbanked customers. Its platform integrates digital micropayments and Internet of Things (IoT) connectivity to provide access to essential products, including solar lighting, televisions, refrigerators, and smartphones. The platform is designed to be accessible, allowing customers to secure financing without the need for a credit history or collateral. By focusing on life-enhancing products and services, M-KOPA aims to improve the quality of life for individuals in underserved markets.

Mainspring

Series E in 2022
Mainspring Energy, Inc. is a company based in Menlo Park, California, focused on developing linear generator technology that produces low-carbon, dispatchable energy. Founded in 2010 by three Stanford engineers, Mainspring aims to address the challenges of climate change while providing affordable electricity. The company engineers advanced prototypes of linear generators that convert fuel into electricity through a low-temperature reaction of air and fuel, driving magnets through copper coils. This innovative approach allows Mainspring to offer electricity at lower costs and with greater reliability, contributing to the vision of creating net-zero carbon grids in the future.

Mainspring

Series E in 2022
Mainspring Energy, Inc. is a company based in Menlo Park, California, focused on developing linear generator technology that produces low-carbon, dispatchable energy. Founded in 2010 by three Stanford engineers, Mainspring aims to address the challenges of climate change while providing affordable electricity. The company engineers advanced prototypes of linear generators that convert fuel into electricity through a low-temperature reaction of air and fuel, driving magnets through copper coils. This innovative approach allows Mainspring to offer electricity at lower costs and with greater reliability, contributing to the vision of creating net-zero carbon grids in the future.

Sunfire

Series D in 2021
Sunfire specializes in the development and manufacture of systems for producing renewable industrial gases and fuels, including hydrogen and syngas. These alternatives, referred to as e-Gas, e-Fuel, or e-Chemicals, serve as substitutes for fossil fuels like mineral oil and natural gas, integrating seamlessly into existing infrastructures. The company utilizes solid oxide cells for the conversion process, which can also function as generators to provide electricity and heat. Sunfire aims to make regenerative energy from sources such as wind, hydropower, and solar power available consistently, transcending the limitations of intermittent energy generation. Their innovative electrolyzers leverage both alkaline and solid oxide technologies, enabling sectors like chemical, fuel, and steel industries to effectively transition to renewable energy sources.
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