Peak XV joins $6.3m pre-series A for India’s Newtrace
- ByStartupStory | March 10, 2026
Newtrace, a Bengaluru-based deeptech startup developing electrodes and electrolyzers for green hydrogen, has raised ₹56.9 crore (US$6.3 million) in a pre-series A round led by HDFC Bank Limited and Mitsui Sumitomo Insurance Venture Capital.
The round also included Peak XV’s Surge, Aavishkaar Capital, Speciale Invest, Micelio Technology Fund, and angel investors Manish Prataprai Gandhi and Renu Manish Gandhi.
Newtrace said the funding will back pilot-scale manufacturing, customer validation and supply agreements, expansion of manufacturing and engineering capabilities, and that it expects initial commercial deliveries of its Voltagen electrodes within 12 months.
Newtrace was founded in 2021 by Prasanta Sarkar and Rochan Sinha and said it operates a 30,000-sq-ft technology centre in Bengaluru with more than 45 engineers and scientists.
🔗 Source: Newtrace
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