As we stand on the cusp of scaling up and leading the decarbonisation of marine transport, we want to take a moment to thank the many people and organisations who helped us reach where we are today. 

Our Investors (Friends and Family) 

We are deeply grateful to those who believed in us from the very beginning. A special tribute to the late OV Babu, brother-in-law of our founder, Sandith Thandasherry, whose influence was pivotal in inspiring the path of ships and shipping that led to Navalt’s creation. Thank you to Jithesh KA, Vidyanand Murunnikara, Hrishikesh Unni, Amita Unni, Mihin Shah, Dhananjay Sandu, Yashodharan Sandu, Niraj Gunde, and Abhishek Kumar Choudhary for your unwavering support and belief in our mission. 

Our Mentors and Advisors 

To the late Madan L Kochhar, DS Lal, KK Devanandan, VK Mathews, and Raveendranath Kamath – your guidance was invaluable. Thank you for stepping in with both intellectual and financial support when we needed it most. A special thanks to Vedam and Akshay Jain. 

Our Financial Partners 

Our growth, which included taking on projects larger than our previous year’s turnover, would not have been possible without the trust and backing of our bankers. HDFC, SBI, PNB, KFC, SIDBI, and KSIDC – your support was crucial in enabling our growth. In the early part of our journey, Poonawalla Fincorp, IDFC First Bank, and ICICI Bank played a key role in sustaining our momentum. A special thanks to KSUM and the Shell Foundation for their vital grant support. 

Our Partners and Vendors 

We are grateful to Alten, EVE, and all our vendors who have been instrumental in co-developing solar electric boats, propulsion systems, and ship performance analysis tools. 

Our Journey 

We began as a design consultancy. Early experiments with solar cruise boats and retrofitted solar fishing boats led us to Aditya, India’s first solar ferry – and the birth of the Navalt brand. 

Eight years later, we now have 35 solar electric boats in operation across nine Indian states. 

The first decade was about building the market for solar electric boats – our founder even authored a book during COVID to help decision-makers choose solar-electric alternatives over petrol and diesel. 

Now, we stand at the edge of rapid growth. This year alone, we will deliver more boats than we did in the past ten years combined and to four new countries. 

Our Clients 

Thank you to the visionary clients who chose to walk this path with us: 

* SWTD for believing in solar ferry boats 

* MSC for trusting us with the Oceanix ship performance analytics 

* Master Shipyard for awarding us our first design project 

* LRAJ for backing the Greenship initiative 

and a whole list of clients across the world who choose Navalt. 

Our Team 

To every employee who has been part of our journey – whether for a few months or over a decade – your contribution has shaped Navalt into what it is today. Your impact is deeply appreciated. 

Our Institutional Investor – Banyan Tree 

And now, we are thrilled to welcome our newest investors – Banyan Tree – who believe in our vision to electrify the oceans and accelerate the maritime transition to sustainable energy. 

The journey began with a message from Sonakshi Agarwal, and her introduction as a backer of Popular Motors proved to be the hook. That message led to insightful discussions and meaningful engagements with the Banyan Tree team: Sanjiv Singhal, Rakesh Bhutoria, Ashish Agarwal, Avinash Samala, and Sonakshi Agarwal. 

We were also supported by a brilliant set of partners during the process: 

* Finlead: Tony Sajan, Saranya S Pai, Sangheetha Prakasan 

* JSA Law: Archana Tewary, Savio Tom 

* EY: Mithun DSouza, Nitheesh P 

* Vivek CS, Girish J 

* CAM: Suvojit Halder, Shruthi Ashok, Rahi Dhuvad 

What’s Next 

Following a recent investment, Navalt has brought all of its operations – ship design, the ship performance analytics platform (Oceanix), solar electric propulsion systems (Greenship), and the manufacturing of solar electric boats—under a single, unified group. 

This move accelerates our timeline. We had anticipated that the integration of vessel manufacturing, energy storage, and performance analytics for large ships would take another decade, but we’re now on a faster path to achieving it. This puts us on a fast track to becoming the world’s leading marine technology company and a pioneer in the electrification of marine transport.