Investment startup Pyse expands into Dubai, aims to offset 20M kg of CO2 emissions

Pyse, a Bengaluru-based investment startup, is gearing up for expansion into Dubai, United Arab Emirates (UAE) to empower retail investors with green asset financing, facilitating investments in sustainable projects such as solar energy and electric vehicles.

Pyse provides green asset financing services to commercial and industrial clients across the seven emirates.

The startup plans to invest in around 40 projects in the UAE, totalling $40 million in asset investments, by the end of 2024, offsetting an estimated CO2 emissions of 20 million kilograms. It has initiated a project employing over 300 electric bikes in Dubai for last-mile delivery.

As part of its global initiative, the investment startup is launching an app, wherein users can integrate other apps to monitor and offset their carbon emissions by investing in sustainable ventures. 

The app is currently in a closed beta phase and is scheduled to be accessible to investors worldwide by mid-October.

“About three months after the global launch, we will open the app to Indian users,” said Kaustubh Padakannaya, Co-founder, Pyse.

Currently, Pyse boasts a community of roughly 25,000 investors in both India and the UAE. It serves 16 clients in India and 4 in the UAE. After India and the UAE, the startup is looking to expand into other GCC (Gulf Cooperation Council) and MENA countries with a replicable model.

To fuel its expansion and growth, Pyse is seeking to secure approximately $1 million in funding from investors based in the United States and the UAE.

Founded by Kaustubh Padakannaya, Harshit Garg and Vinay Mantha in 2020, Pyse offers retail investors access to sustainable energy projects, with investment amounts starting from Rs 50,000. 

These investments yield monthly returns and enable users to monitor the social and environmental impact of their investments. Monthly impact scores based on their portfolios are provided, said the company.

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The startup's impact matrix, developed in collaboration with various climate action groups, quantifies this impact, added the company.

Pyse says it has clocked a 40% year-over-year (YoY) growth and generated Rs 40 lakh in FY22-23.

The startup aims to scale the impact of sustainable alternatives for companies and involve individuals in the ownership of ventures.

Pyse's platform has accumulated around $7.5 million in assets, with an average investment size of approximately $60, according to the company. It charges an entry load, which is a percentage of the initial investment amount, and an asset management fee based on the performance of the assets.

The company targets early investors aged 25-35 in key Indian cities, with 65% from Tier II and III towns. It aims to encourage retail investors to adopt a sustainable lifestyle while earning a passive income.

In India, Pyse has established partnerships with companies such as Tata Communications, ID Fresh Food, DMart, and The Times of India. With close to 7,000 investors on board, it has invested in 27 sustainable projects, and 30 more are in the pipeline.