ADB Ventures Announces Its First Two Investments

The Asian Development Bank's (ADB) new venture arm, ADB Ventures, has announced its first two investments. ADB Ventures invests in early-stage technology companies globally that address urgent development challenges in emerging Asia and the Pacific.

Euler Motors Pvt. Ltd., based in India, is an electric vehicle manufacturer and fleet operator focused on last-mile commercial logistics, accelerating India's and Southeast Asia's transition to sustainable mobility. Euler Motors has raised $9.4 million in Series A funding with participation by ADB Ventures, Blume, Inventus, and other investors.

Smart Joules Pvt. Ltd., based in India, provides energy efficiency-as-a-service for large hospitals and commercial buildings, delivering savings of up to 40% on energy costs and reducing greenhouse gas emissions. Smart Joules has raised $4.1 million in its Series A financing led by Sangam and ADB Ventures. Max I. Limited and other angel investors also participated in this round.

The investments were made by the ADB Ventures Equity Fund, which is ADB Ventures' first investment fund.

"ADB Ventures will spur high-impact cleantech, agritech, fintech, and healthtech innovations in developing Asia with its ecosystem building. Our vision is to crowd-in $1 billion of commercial investment towards the Sustainable Development Goals by 2030," said ADB Vice-President Ashok Lavasa.

The ADB Ventures Equity Fund received $60 million in funding commitments in 2020 from Finland's Ministry for Foreign Affairs, the Government of the Republic of Korea, Climate Investment Funds' Clean Technology Fund, and the Nordic Development Fund. The Fund focuses on climate and gender impact in South and Southeast Asia.

"The ADB Ventures Equity Fund is the perfect vehicle for Finland to turn our development priorities into action. The Fund will catalyze private sector finance to address climate challenges, while integrating gender aspects. Finland stands together with ADB to meet the region's development challenges," said Finland's Under-Secretary of State for Development Policy Elina Kalkku.

"Korea's venture ecosystem has been accelerating the transition toward an innovative digital and green economy. We look forward to working closely with ADB Ventures to promote leading clean technologies in the Asia-Pacific region and achieve mutual prosperity in the post-COVID-19 era," said Deputy Minister for International Affairs of the Republic of Korea's Ministry of Economy and Finance Taesik Yoon.

"We see ADB Ventures among those unique vehicles capable of mobilizing public risk capital and private sector capital, while taking advantage of ADB's extensive operations and networks for climate innovation," said Climate Investment Funds Head Mafalda Duarte.

"ADB Ventures represents a timely complement to traditional development approaches through the involvement of the private sector in addressing critical climate change challenges. We are pleased to be working with the ADB on this important initiative that has particular relevance in the post-COVID recovery," said Nordic Development Fund Managing Director Karin Isaksson.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.

Media Contact:

John Larkin
Principal Communications Specialist, ADB
[email protected]

Nattasuda Anusonadisai
Communications Specialist, ADB Ventures
[email protected]
+66-635835399


ข่าวAsian Development Bank+ADB Venturesวันนี้

UniFAHS Raises USD 1.4 Million in Seed Funding to Scale Bacteriophage Technology for Sustainable Agriculture

UniFAHS, a trailblazing biotechnology company specialising in phage technology for sustainable agriculture and food safety, today announced it has raised over USD 1.4 million in its seed funding round. This significant step propels the company forward in its mission of growth and transforming food production using environmentally friendly and sustainable approaches. The funding round, led by A2D Ventures and supported by contributions from Asian Development Bank Ventures (ADB Ventures) and

"เอดีบี เวนเจอร์ส" ทุ่มเงินลงทุนในการระดมทุนรอบ Seed ครั้งที่สองของบริษัทสวิตช์เกียร์ "นูเวนทูรา"

นูเวนทูราตั้งเป้าช่วยลดการใช้ก๊าซเรือนกระจกที่แพร่มลภาวะสูงอย่างซัลเฟอร์เฮกซะฟลูออไรด์ เมื่อทั่วโลกยังคงเติบโตต่อเนื่องในขณะที่เร่งหาทางรับมือกับสภาพอากาศ นูเวนทูรา (Nuventura) ผู้พัฒนาเทคโนโลยีสวิตช์...

ADB Ventures participates in switchgear company nuventura's second closing of seed funding round

Nuventura aims to help reduce the use of the highly potent greenhouse gas, SF6 , amid global growth and the continued acceleration of climate action. Nuventura, the Berlin-based developer of switchgear...

Fairbanc Secures Funding from ADB Ventures, Accion Venture Lab, East Ventures, and Sampoerna to Scale Indonesian's Micro Merchant's Access to Embedded Credit Products

Fairbanc announced it has raised an undisclosed seven figures investment in a pre-Series A from ADB Ventures, the Asian Development...

ADB Ventures ประกาศการลงทุนใน 2 บริษัทแรก

ADB Ventures ธุรกิจร่วมลงทุนใหม่ของ Asian Development Bank (ADB) ได้ประกาศการลงทุนใน 2 บริษัทแรก ADB Ventures มีขึ้นเพื่อลงทุนในบริษัทเทคโนโลยีระยะแรกเริ่มทั่วโลกที่มีบทบาทในการจัดการกับปัญหาท้าทายเร่งด่วนต่อการพัฒนาในภูมิภาคเอเชียและแปซิฟิก บริษัท Euler...

ADB Ventures Announces Its First Two Investments

The Asian Development Bank's (ADB) new venture arm, ADB Ventures, has announced its first two investments. ADB Ventures invests in early-stage technology companies globally that address urgent development challenges in emerging Asia and the Pacific....

Press Invitation to ADB Ventures Online Press Conference

PRESS INVITATION March 17, 2021 3.00 to 4.00 pm (GMT+8) Please register here Dear Media Colleagues, ADB Ventures , the Asian Development Bank's venture arm, invites you to attend an online press conference to unveil its first investments, which...

ขอเชิญสื่อมวลชนเข้าร่วมงานแถลงข่าวออนไลน์ของ ADB Ventures

กำหนดการแถลงข่าว วันที่ 17 มีนาคม 2564 เวลา 15.00-16.00 น. (GMT+8) กรุณาลงทะเบียนที่นี่ เรียนสื่อมวลชนทุกท่าน ADB Ventures ในเครือ Asian Development Bank ขอเรียนเชิญสื่อมวลชนทุกท่านเข้าร่วมงานแถลงข่าวออนไลน์เพื่อเปิดตัวการลงทุนครั้งแรก ซึ่ง...

In a historic first, the Asian Institute ... Empowering a New Generation: AIT Welcomes 30 Outstanding Women Scholars from Pakistan — In a historic first, the Asian Institute of Technology (AIT) has o...

ยูนิฟาร์ส (UniFAHS) บริษัทเทคโนโลยีชีวภาพ... ยูนิฟาร์ส ระดมทุน 1.4 ล้านดอลลาร์สหรัฐ พัฒนาเทคโนโลยีควบคุมแบคทีเรีย เพื่อการเกษตรที่ยั่งยืน — ยูนิฟาร์ส (UniFAHS) บริษัทเทคโนโลยีชีวภาพซึ่งมีความเชี่ยวชา...