Commenting on the fundraise, Mainak Chakraborty, CEO, GPS Renewables and Chairman, ARYA, "The current round will accelerate our efforts towards fast-tracking our joint venture projects with Indian Oil Corporation and Bharat Petroleum. These projects have the potential to play a key role in India's transition to sustainable green energy. Over the last few years, we have been at the forefront of enhancing biofuel production capacity and streamlining adoption processes. Over the next year, our focus will be on expanding our capacity and strengthening partnerships with key players. We will continue to raise funds for the growth of our projects under the ARYA vertical to support India's clean energy goals"