Two Point O Capital raises $10 million led by Transition Venture Capital to finance commercial clean energy in India

TLDR

• Two Point O Capital raised $10 million in a round led by Transition Venture Capital; valuation was not disclosed.¹²
• Proceeds go to battery energy storage and wider solar, efficiency and wastewater work, with Omnivore and two angels joining.¹³
• Omnivore led a $6.3 million seed round reported in September 2024; 1.5x quarterly AUM growth is a company claim.⁴¹

Two Point O Capital (TW.O), which Business Standard describes as an AI-powered, full-stack clean energy deployment platform for commercial and industrial customers, has raised $10 million in a round led by Transition Venture Capital (TVC).¹ Existing investor Omnivore and angel investors Chiranjeev Singh Saluja and Sudhir M Reddy also took part, and the company did not disclose its valuation, according to The Economic Times.² The Times of India reported the round on 1 November 2026.³ Dealroom News calls it an early-stage round; the sources do not give a series label.⁵

Founded in 2024 by Archit Mehrotra, Karan Bhutani, Manya Ranjan and Shashidhar Reddy, TW.O combines financing with project execution and monitoring, working with equipment makers and project contractors so that customers pay less upfront, according to The Times of India.³ The company says its customers include Premier Energies, Godrej, JK Tyre, Morepen Pharma, Wipro and Phoenix Mills.³ Business Standard reports that it uses a proprietary AI and machine learning platform for underwriting and asset monitoring, and that its assets under management have grown 1.5 times each quarter for the past three quarters.¹ Both are company claims, and the sources give no absolute AUM figure.

The money will fund a move into battery energy storage and growth in solar, energy efficiency and wastewater treatment, aimed at data centre, automotive, pharmaceutical, manufacturing and healthcare customers.¹³ Chief executive Karan Bhutani said the aim is to become India's first and largest multi-asset, multi-solution platform for clean energy adoption by commercial and industrial customers.⁶ Business Standard also cites an annual opportunity of $100 billion to $150 billion without saying who estimated it.¹ The sources differ on the company's base, with The Economic Times saying Mumbai, The Times of India a Bengaluru dateline and ImpactAlpha saying Gurgaon in 2024.²³⁴

On the investors, Omnivore, which ImpactAlpha described in 2024 as an agriculture-focused impact investor, led TW.O's $6.3 million seed round, which ImpactAlpha reported in September 2024, with Multiply Ventures, RTP Global, GrowX and Spectrum Impact also participating.⁴ The 2026 sources do not say whether those four joined this round, or whether TVC or the two angels had invested before.

For the lead investor's other backing, TVC's portfolio page lists SUIND, which builds autonomous aerial systems, Albatross Energetics, which makes liquid desiccant air handling systems, and Helionis Labs, which makes LED lights on its own insulated metal substrate technology.⁷ Inc42 reported in November 2022 that the firm launched a maiden fund of INR 400 crore (about $49 million) to write cheques of $500,000 to $1 million into up to 40 early-stage cleantech start-ups, and that its team had backed Charge+Zone and Exponent Energy beforehand.⁸ The sources do not give the fund's final size. Yashodhara Bakliwal, TVC's vice president for investment, said TW.O complements the portfolio because its hardware companies can deploy faster through TW.O's platform and reach customers constrained by capex.¹

Why it matters: a clean energy financier founded in 2024 now has two disclosed rounds in about two years, and its lead investor says the platform lets its own hardware portfolio companies reach customers who cannot fund the purchase.⁴¹ With valuation and absolute AUM undisclosed, the growth claims cannot be checked independently.