BPCL’s ‘Elevate’ Fund Backs Green Tech and Cybersecurity Startups by 2025
Bharat Petroleum Corporation Limited (BPCL) has launched the 'Elevate' cohort under its BPCL Ankur Fund. The initiative aims to accelerate startups in green technology and cybersecurity for energy operations. Applications are now open until December 9, 2025, with selected companies receiving funding and support to scale their solutions.
BPCL, India’s second-largest oil marketing company and a Maharatna PSU, is targeting startups with innovative solutions in two key areas. For its Green Tech focus, the company seeks ventures working on solar and wind power, battery storage, carbon capture, green hydrogen, and circular economy solutions. Under Cybersecurity & Resilience for Energy Operations, it is looking for expertise in threat detection, data protection, fraud prevention, and related fields.
The 'Elevate' cohort will support startups at various stages—whether they have a proof of concept, prototype, MVP, or a fully implemented product. BPCL is particularly interested in solutions that can adapt to the oil and gas sector. Selected startups can receive up to ₹5 crore in funding through equity or convertible preference shares, with BPCL capping its stake at 20%.
BPCL has partnered with IDBI Capital Market & Securities Ltd. (ICMS) to handle proposal evaluations, due diligence, and post-investment support. This collaboration ensures a structured selection process and ongoing guidance for chosen startups. The initiative aligns with BPCL’s broader goal of becoming a Net Zero Energy Company by 2040, backed by a detailed roadmap for sustainability.
Beyond energy innovation, BPCL runs social impact programmes in education, water conservation, skill development, and community upliftment. The company operates with a refining capacity of 35.3 MMTPA and an extensive retail network across India.
The 'Elevate' cohort offers startups a chance to secure funding, mentorship, and industry adaptation support. Successful applicants will contribute to BPCL’s sustainability and cybersecurity objectives while gaining access to a major player in India’s energy sector. The application window closes on December 9, 2025, with evaluations managed by ICMS on behalf of BPCL.
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