Agri-focused cleantech Ecozen has closed $25 million in equity and debt capital in its Series C round, as it looks beyond agriculture to expand into new deeptech fields worldwide.
The Series C equity round was led by Nuveen and Coromandel International’s venture capital arm Dare Ventures, with participation from the Export-Import Bank of India and existing investors including Caspian and Hivos-Triodos Fonds.
Founded in 2009, the startup develops climate-smart deep tech solutions for motor controls, IoT, and energy storage, with markets in Africa and Southeast Asia.
With its cold chain solution, Eco-frost and its irrigation solution, Eco-tron, Ecozen claims to have improved the income of over 120,000 farmers
The startup also claims to have generated over 1 billion units of clean energy (kWh), saved over 20,000 metric tonnes of food loss and reduced over 1 million tonnes of GHG emissions.
The clean-tech startup now aims to expand internationally, and leverage its climate-smart solutions in non-agricultural sectors.