PE Fund Investments
Climate-tech platform Ecozen raises $25-M led by Nuveen, Dare Ventures
Pune-based climate-tech startup Ecozen Solutions has raised USD 25 million in equity and debt capital in its Series C round. The equity portion was led by Nuveen and Dare Ventures (the VC arm of agri-biz company Coromandel International), with participation from Export-Import Bank of India, and existing investors Caspian Advisors and Triodos (via Hivos-Triodos Fund). The debt portion was provided by Maanaveeya Development and Finance, Oxyzo, Northern Arc group, HDFC Bank and Axis Bank. Ecozen offers eco-friendly solutions such as solar-powered cold storages and pumps to farmers. It claims to have improved the incomes of 120,000 farmers, helping decarbonize agriculture in the process. The company also claims to have helped generate over 1 Billion units of clean energy (kWh), saved over 20,000 metric tonnes of food loss and reduced over 1 million tonnes of GHG emissions.
From the Venture Intelligence PE-VC Deal Database: Between Dec 13 and Dec 22, Ecozen Solutions had raised over USD 27 M from Caspian Advisors, Omnivore Partners, Triodos, Sathguru Catalyser IFA Fund, Dare Ventures, UC Inclusive Credit and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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