Agritech startup Ecozen raises $10 mn in funding from Nuveen Global Fund
- ByStartupStory | December 27, 2022
Agritech startup Ecozen raised $10 million from Nuveen Global Fund. This is the second tranche of its planned Rs 200 crore Series C round, Entracker was the first to report this developement.
According to reports, The board of Ecozen has passed a special resolution to issue 1,06,657 Series C2 CCPS at an issue price of Rs 7725.67 each to raise Rs 82.4 crore or $10 million.
In its first segment of funding in Series C round in June this year, Ecozen raised Rs 54 crore of additional funding. Dare Ventures led the funding round, the venture capital arm of Coromandel International, with participation from existing investors—Caspian and Hivos-Triodos Fonds (managed by Triodos Investment Management)—through equity.
About Ecozen
Founded by IIT Kharagpur graduates, Devendra Gupta, Prateek Singhal, and Vivek Pandey, EcoZen develops climate-smart deeptech solutions and core technology stacks to deliver a sustainable future, including motor controls, IoT, and energy storage.Applying these technology stacks to the agricultural sector, Ecozen offers Ecofrost and Ecotron as solutions for cold chains and the irrigation industry to improving the income of over 100,000 farmers and enabling the generation of over one billion units of clean energy (kWh).
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