Ecozen is a climate tech startup that provides solar-powered products for agriculture solutions. The startup raised 23 million USD in its debt funding round. The funding round saw the participation of responsAbility Investments AG, Maanaveeya Development & Finance Private Limited, and others. The company plans to use these fresh proceeds to scale its business, enhance its services, improve its technologies, and develop its market presence.
The company intends to use some of this investment to strengthen its position in sustainable technologies. The startup also wants to improve its services while developing its technology and increasing customer reach. The company provides users with firms focused on developing products to address challenges in the agriculture sector. The company offers climate-focused deep tech solutions and technologies including IoT and energy storage that uses solar power.
Ecozen raised around $51.4 million across three funding rounds, including a $25 million round led by Nuveen, Oxyzo, and other investors. The startup also secured around 30 million USD during a mix of debt and equity funding round from its existing investors including Nuveen Global Fund. This climate tech firm provides solutions including solar-powered cold storage, solar irrigation pump controllers, and more. The company also offers two core products including Ecofrost and Ecotron. The investment highlights the investor’s interest in Ecozen’s market potential and business model.
The Pune-based firm offers solutions for the agriculture business. The new investment round came after the climate tech sector saw increased investor interest. The startup faces competition from other companies in the same market segment such as Khethworks and Real Tech Systems. Before this funding round, the existing investor Nuveen was the firm’s largest institutional investor. The startup aims to use this investment to expand its business while developing a brand presence in the climate tech market.
Ecozen reported a 139 percent increase in its revenue to Rs 293.24 crore in FY23. The startup turned profitable and crossed Rs 5.76 crore in profits for the last financial year. The climate tech startup aims to improve its business model while offering innovative solutions to strengthen its position in this sector. Ecozen uses advanced technologies in its platform to develop the best agritech solutions. The company aims to transform the agriculture market using its technologies while increasing its business. The startup wants to revolutionize the ecosystem and introduce more efficient solutions.
Conclusion :
Climate tech startup Ecozen Solutions secured 23 million USD in its debt funding round from its existing investors. The funding round saw participation from responsAbility Investments AG, Northern Arc Capital Limited, and others. The climate-focused deep tech startup intends to use these fresh proceeds to scale its business, develop its market presence, enhance its performing capability, and strengthen its position in sustainable technologies.
The climate tech platform provides agriculture solutions for the agriculture business. The company develops solar-powered products and solutions to address challenges in the agriculture sector. The startup aims to use some of this new investment to advance its technologies and expand its business.
Deepika Khare is a digital marketing expert with over 10 years of experience across versatile industries, including technology and startups. She possesses a deep understanding of content and marketing strategies, leveraging her skills to enhance quality and drive impactful results in the digital landscape.
Reach us: deepika.khare@
Linkedin Profile : https://www.linkedin.com/in/deepika-khare/
Read the full article here