Ecozen Raises $25 M In Round Led By Nuveen, Dare Ventures


Pune-based deeptech startup Ecozen has raised $25 million in combined equity and debt capital. The Series C round’s equity portion was led by Nuveen and Dare Ventures (Coromandel International).

The round also saw the participation of existing investors Caspian and Hivos-Triodos Fonds. Early investors Omnivore and IFA achieved partial exits in this round.

With these funds, Ecozen will expand its production capacity and product range. Founded by Devendra Gupta, Prateek Singhal and Vivek Pandey in 2010, Ecozen develops smart climate solutions using deeptech for motor controls, the internet of things (IoT) and energy storage.

Applying these technology stacks to the agricultural sector, Ecozen claims to have generated over a billion units of clean energy (kWh), saved over 20,000 metric tonnes of food loss and reduced over one million tonnes of GHG emissions.

The company has expressed that it is looking beyond the agricultural sector to accelerate the broader energy transition through its deep tech expertise in energy storage, motor controls, IoT, and analytics.

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