Climate-focused deeptech startup Ecozen is set to raise ₹125 crore (approximately $13.2 million) in debt financing, with Rajiv Poddar leading the round alongside participation from Indel Money, InCred Finance, and several other investors.
The proposed financing comes just months after the Pune-based company secured ₹95 crore in debt funding from Momentum Capedge Limited in January 2026. The latest capital infusion is expected to strengthen Ecozen’s financial position as it continues to scale its climate-smart technology portfolio and meet growing working capital requirements.
Ecozen Plans ₹125 Crore NCD Issue Across Three Series
According to filings with the Registrar of Companies (RoC), Ecozen’s proposed debt issue will comprise up to 1,250 Non-Convertible Debentures (NCDs), each carrying a face value of ₹10 lakh.
The NCDs will be issued across three series, aggregating to a total fundraising of up to ₹125 crore.
Rajiv Poddar is expected to lead the financing with an investment of ₹31 crore, followed by Indel Money with ₹21 crore. Kredere Wealth Partner Limited will contribute ₹16 crore, while Sovereign Pharma Pvt Ltd will invest ₹15 crore.
InCred Finance and Manba Finance Limited will invest ₹10 crore each. The remaining capital will come from investors including Kaushik Deva, Rama Pyarelal Tiwari, Faarah Yohan Sachdev, Rajul Narendra Mehta, and Rama Iyer and Sunita Family Private Trust.
Fresh Capital to Support Growth and Working Capital Needs
Ecozen plans to deploy the proceeds from the debt financing primarily toward its growth initiatives and working capital requirements.
The latest debt raise follows the ₹95 crore secured from Momentum Capedge earlier this year, highlighting the company’s continued use of debt capital alongside equity financing to support its expanding operations.
As Ecozen scales its clean energy and climate-focused solutions, access to additional working capital could help the company manage production, inventory, supply chain requirements, and growing demand across its business segments.
Building Deeptech Solutions for Climate-Smart Agriculture and Energy
Founded by Devendra Gupta, Ecozen develops climate-smart deeptech solutions built around core technologies including motor controls, Internet of Things (IoT), energy storage, and solar power.
Its key products include Ecotron, a solar pump controller designed for agricultural applications, and Ecofrost, a solar-powered cold storage solution that helps farmers and businesses manage temperature-sensitive produce.
The company’s broader product portfolio also includes solar air-conditioning solutions and solar panels, expanding its presence across the clean energy and climate technology ecosystem.
Through its technology stack, Ecozen focuses on addressing challenges related to energy access, agricultural productivity, and sustainable cold-chain infrastructure.
Ecozen Has Raised Over $100 Million Across Equity and Debt Rounds
The Pune headquartered startup has raised more than $100 million through multiple equity and debt funding rounds to date.
Its prominent institutional backers include Nuveen, Omnivore, and Dare Ventures, reflecting sustained investor interest in the company’s climate-tech and clean energy solutions.
The latest ₹125 crore proposed financing will further add to the capital raised by the company as it looks to scale its operations and expand its technology offerings.
Revenue Jumps 2.5X as Profit Surges Nearly Fivefold
While Ecozen is yet to file its financial statements for FY26, the company recorded significant growth during the fiscal year ended March 2025.
Its operating revenue surged 2.5 times to ₹1,150 crore in FY25, compared with ₹458.5 crore in FY24. The company’s profit also witnessed strong growth, rising 4.7 times to ₹95 crore during the same period.
The sharp increase in revenue and profitability indicates growing adoption of Ecozen’s climate-smart technology solutions and provides the company with a strong financial foundation for further expansion.
Ecozen Strengthens Position in India’s Growing Climate-Tech Sector
Ecozen operates in an increasingly competitive climate-tech and clean energy market, competing with companies such as Powerflex, Inficold, and Khetworks.
As India accelerates its transition toward renewable energy and sustainable agricultural infrastructure, demand for technologies such as solar-powered irrigation, energy-efficient cold storage, and intelligent energy management is expected to grow.
With strong revenue momentum, more than $100 million raised across equity and debt rounds, and a diversified portfolio of climate-focused products, Ecozen is positioning itself to capture a larger share of India’s expanding clean technology market. The proposed ₹125 crore debt financing is expected to provide additional capital to support the company’s next phase of growth while strengthening its working capital position.
