Two Point O Capital, an Indian company that pays for and deploys clean energy and water-treatment equipment at factories and commercial buildings, has raised $10m in a Series A round led by Transition VC. Entrackr, Inc42 and Indian Startup News reported the round on 2 November 2026.
Omnivore, an existing backer, invested again, and angel investors Chiranjeev Singh Saluja and Sudhir M Reddy also took part. Inc42 put the round at about ₹95 crore. The company did not disclose a valuation.
Transition VC announced its lead investment on LinkedIn. It said the Series A would pay for Two Point O's move into battery energy storage and other newer clean technologies, as well as growth in its solar, energy-efficiency and wastewater businesses.
“The industry often underestimates the complexity of integration across a fragmented ecosystem with multiple stakeholders.”Yashodhara Bakliwal, VP, Investment, Transition VC
What Two Point O does
The company, which also goes by TW.O, works with commercial and industrial customers that want cleaner energy and water systems but do not want to pay for the equipment upfront. It offers financing, turnkey projects and equipment leases for four kinds of asset: rooftop solar, battery energy storage systems, energy-efficiency upgrades for heating, cooling and air compressors, and wastewater treatment, according to Inc42 and Indian Startup News.
Two Point O does not install or maintain the equipment itself. Equipment makers and engineering, procurement and construction firms do that work. The company makes loans through a wholly owned non-bank lender (NBFC) and runs a separate company for leases and service contracts. It says its own AI and machine-learning software handles project design, underwriting and monitoring, that its installed assets are connected so their performance can be tracked, and that it can send a client a technical and commercial proposal within 24 to 48 hours.
Co-founder and chief executive Karan Bhutani told Indian Startup News that large sums had gone into utility-scale and grid-scale projects, while energy projects at individual industrial sites and buildings had received much less. He said the recent crisis in West Asia had made energy independence and resilience more urgent for companies.
Who invested
In its announcement, Transition VC said Two Point O takes on both the upfront cost and the delivery risk of projects for its clients. Yashodhara Bakliwal, vice-president for investment at the firm, told Indian Startup News that hardware companies in Transition VC's portfolio could use Two Point O's platform to reach customers that capital costs would otherwise put off.
Omnivore led Two Point O's $6.3m seed round in September 2024. Multiply Ventures, RTP Global, GrowX, Spectrum Impact and a group of angel investors also invested in that round, according to Indian Startup News. Inc42 described the 2024 money as a mix of equity and debt.
What the money is for
Two Point O will add battery energy storage as its first new asset class. It also plans to strengthen its technology, hire more staff, start serving small and medium-sized businesses and expand into data centres, automotive, pharmaceuticals, manufacturing and healthcare, Inc42 and Indian Startup News reported.
The company aims to reach $75m to $100m in assets under management over the next couple of years. It has not said how large its asset base is today. It says assets under management grew 1.5 times from one quarter to the next in each of the last three quarters.
Customers and founders
Two Point O was founded in 2024 by Archit Mehrotra, Karan Bhutani, Manya Ranjan and Shashidhar Reddy S. It says it has about 25 to 30 large customers, including Premier Energies, Godrej, JK Tyre, Morepen Pharma, Wipro and Phoenix Mills.
Bhutani estimates that these existing customers could bring in ₹400 crore to ₹500 crore (about $42m to $53m) of transactions over the next two to three years, according to Inc42. The company puts the yearly market for capital and asset services among Indian commercial and industrial businesses at $100bn to $150bn.
Company website: twopointo.capital