Agriculture-focused cleantech In its Series C round, Ecozen closed $25 million in equity and debt funding as it seeks to diversify beyond agriculture and enter new deeptech industries globally.
The Export-Import Bank of India and current investors Caspian and Hivos-Triodos Fonds joined the Series C equity round, which was led by Nuveen and Coromandel International’s venture capital arm Dare Ventures.
The business, which was established in 2009, creates climate-smart deep tech solutions for IoT, energy storage, and motor controls, with markets in Africa and Southeast Asia.
Ecozen asserts that its irrigation solution, Eco-tron, and cold chain solution, Eco-frost, have increased the income of more than 120,000 farmers.
The business also asserts that it has prevented over 20,000 metric tonnes of food loss, produced over 1 billion clean energy units (kWh), and cut over one million tonnes of greenhouse gas emissions.
Currently, the clean-tech business wants to grow internationally and use its climate-smart solutions in industries other than agriculture.