Ecozen Secures Over USD 23 Mn Debt Funding to Expand Climate-Smart Solutions
Summary
This round of investment will be directed toward scaling Ecozens flagship solutions, including Ecotron, Ecofrost, and advanced motor control systems.Ecozen, a Pune-based leader in climate-smart technology solutions, has raised over USD 23 million in debt funding from a group of prominent investors, including responsAbility Investments AG, Northern Arc Capital Limited, Maanaveeya Development & Finance Private Limited, and others.This funding is poised to significantly scale the companys operations and strengthen its position as a pioneer in sustainable technologies.Devendra Gupta, CEO and Co-Founder of Ecozen, said, "This funding reaffirms the confidence our partners have in Ecozens ability to drive impactful change through innovation. "Founded in 2010 by IIT Kharagpur alumni Devendra Gupta, Prateek Singhal, and Vivek Pandey, Ecozen specialises in providing advanced technology solutions tailored to the agricultural sector.The companys flagship products, such as Ecotron and Ecofrost, are designed to enhance productivity and reduce post-harvest losses, benefiting over a million farmers in India. These innovative products are part of Ecozens diverse portfolio, which also includes Eco-Freeze, Ecozen Atta Chakki, Ecotron Omni, and E-Bike Controllers, all aimed at addressing various environmental and economic challenges.Ecozens focus on sustainable innovation has led to an impressive compound annual growth rate (CAGR) of over 83% in revenue over the past three years. With the ongoing success of its solar-powered irrigation systems and cold storage units, Ecozen is well-positioned to explore new market opportunities, furthering its mission to drive climate-smart solutions globally.Neha Baid, Team Head of Sustainable Food Debt at responsAbility Investments AG, remarked, "Ecozens innovative solutions resonate deeply with our commitment to support sustainable and impactful ventures focused on climate mitigation and food loss reduction. "Ashish Mehrotra, MD and CEO of Northern Arc Capital, added, "This partnership underscores our unwavering commitment to addressing climate change and fostering climate-first businesses.