GIBSS Raises Funding

GIBSSGreen India Building Systems and Services (GIBSS), an Indian provider of geothermal cooling solutions, raises a funding of undisclosed amount.

The round was led by Infuse Ventures, a clean technology fund which is backed by IIMA CIIE, Government of India’s Ministry of New and Renewable Energy (MNRE) and Technology Development Board, IFC, BP, Godrej Industries, ICICI Bank, SIDBI, Bank of India and Union Bank. In conjunction with the funding, Kunal Upadhyay, CEO, Infuse Ventures, will join the board of the company.

Founded by Mandar Kaprekar and Arun Shenoy, GIBSS provides energy efficient and environmentally responsible technologies that help reduce operating costs in buildings. It serves customers across industrial, institutional and commercial setting.
GIBSS had previously raised an angel round from SRI capital and Hyderabad Angels.



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