According to reports, Green India Building Systems and Services (GIBBS) was born from a passion to make environmentally and socially responsible technologies that are also commercially viable . Co-founder Arun Shenoy who worked several years in the building systems and geothermal industry was keen to build a venture that would have a “triple bottom line” approach .
The company helps businesses reduce costs and raise productivity by using energy efficienct products and solutions in buildings and has positioned itself as a net zero energy building systems company. The company’s portfolio of geothermal cooling systems, hot water co-generation systems and lighting solutions reduces operating costs and carbon foot print in buildings by 60-80 %.
With its zero initial investment or pay-from-savings model and performance bank guarantees, it makes these technologies commercially viable for its clients. It has raised Rs 2.25 crore in three rounds of funding from Tie-ISB in the first round and Sri Capital Fund led by serial entrepreneur Sashi Reddy in the second . Sashi Reddy is part of the Hyderabad Angels network that also participated in the funding.
“In India alone, our addressable market will grow exponentially in the next five years to about Rs 60,000 crore,” says Shenoy, who plans to expand the existing lines of business and add on new ones by expanding the team. One of the biggest challenges for the company in the months to come is meeting its working capital needs. Exponential growth has created an ever rising need for working capital.