Posted November 13, 2008
Atlanta-based alternative energy startup lands $15M in financing
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ATLANTA, Ga. —
Sriya Innovations, an alternative energy startup, has closed on a $15 million round of new financing from Kleiner Perkins Caufield & Byers.
Sriya, which launched 18 months ago, is developing technology to turn wood chips and pine straw into ethanol for fuel. Company founder Srinivas Kilambi, who named the firm after his daughter, wants to develop ethanol from other sources rather than food grain.
The $15 million round follows an initial $6 million investment from Silicon Valley-based Kleiner Perkins.
Kilambi was an executive with Reliance Industries in India before launching his new venture.
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