Ecozen Secures Over USD 23 Mn Debt Funding to Expand Climate-Smart Solutions This round of investment will be directed toward scaling Ecozen's flagship solutions, including Ecotron, Ecofrost, and advanced motor control systems.
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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 company's 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 Ecozen's ability to drive impactful change through innovation. We are excited to be on a rapid growth path, driven by the increasing need for sustainable, climate-smart solutions. This funding will help us reach more people, expand our operations, and strengthen our impact in India and beyond."
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 company's 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 Ecozen's 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.
Ecozen's focus on sustainable innovation has led to an impressive compound annual growth rate (CAGR) of over 83% in revenue over the past three years. The company claims to have already manufactured more than 300,000 Ecotron solar pump controllers, with 100,000 units produced in just the past year. These solutions have contributed to the abatement of over 2 million metric tons of greenhouse gases (GHG), including a notable 660,000 metric tons in 2024 alone.
Looking ahead, Ecozen plans to expand its product portfolio in 2025, introducing new technologies that cater to the evolving needs of communities and businesses. 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, "Ecozen's innovative solutions resonate deeply with our commitment to support sustainable and impactful ventures focused on climate mitigation and food loss reduction. We are proud to contribute to their journey of empowering rural and industrial stakeholders with advanced climate-smart technologies."
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. We aim to empower enterprises like Ecozen to grow and prosper, contributing meaningfully to a greener, more resilient future for all."
