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Ecozen secured debt funding from responsAbility Investments AG, Northern Arc Capital Limited, Maanaveeya Development and Finance Private Ltd among others
The startup plans to use the newly raised capital in scaling up its current businesses while strengthening its position in sustainable technologies
The company claims to have manufactured more than 300,000 Ecotron solar pump controllers so far, with 100,000 units produced between March and December 2024 alone
Pune-based deeptech startup Ecozen has secured more than $23 Mn (INR 198.6 Cr) in a debt round of funding from responsAbility Investments AG.
The round also saw participation from a host of investors, including Northern Arc Capital Limited, Maanaveeya Development and Finance Private Ltd among others.
The startup plans to use the newly raised capital in scaling up its current businesses while strengthening its position in sustainable technologies.
Founded in 2010 by Devendra Gupta, Prateek Singhal and Vivek Pandey, Ecozen offers solar-powered systems to small and marginal farmers. The company claims to have manufactured more than 300,000 Ecotron solar pump controllers so far, with 100,000 units produced between March and December 2024 alone.
“This funding will help us reach more people, expand our operations, and strengthen our impact in India and beyond. Our focus has always been on empowering our customers and providing them with the tools they need to thrive in a changing world,” said Gupta.
This development comes at a time when homegrown deeptech startups have begun to gain the likes of investors across sectors such as healthcare, biosciences, clean energy and space.
For instance, deeptech neuroscience startup BrainSightAI secured $5 Mn (around INR 43 Cr) in a Pre-Series A funding round to expand BrainSightAI’s presence in India, increasing its reach in Tier I cities while also extending to Tier II cities.
Meanwhile, Delhi NCR-based deeptech startup Proxgy bagged fresh capital from Indian cricketer Anjikya Rahane as part of its ongoing $3 Mn (around INR 25.6 Cr) Series A funding round to scale operations, further expand its product portfolio and solidify its footprint in the international markets.
On the other hand, early stage venture capital firm Riceberg Ventures launched a $20 Mn (around INR 173.4 Cr) fund to invest in deeptech startups, earlier this week.
