Debt financing
Cleantech startup Hygenco raises Rs.50-Cr from Trifecta
Gurugram-based cleantech startup Hygenco has raised INR 50 crore (approx USD 6 million) via non-convertible debentures (NCDs) from Trifecta. Hygenco would issue 500 debentures, that have a tenure of 24 months and carry an interest rate of 14.5% per annum, at INR 1,00,000 each, to raise the sum.Hygenco develops and deploys commercial systems for green hydrogen and ammonia production. Its solutions cater to large-scale process industries, marine and terrestrial transportation, and personal mobility sectors.SBI, through its Neev II Fund, holds a 49.6% stake in Hygenco. The company's co-founders—Amit Bansal, Anshual Gupta, and Aashish Gupta—collectively own 46.1% of the company.The company was in the pre-revenue stage till the financial year ended March 2023.
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