Ecozen Secures Rs 125 Crore Debt Funding for Climate-Focused Innovations
Ecozen, a startup dedicated to climate solutions through deep technology, is preparing to secure Rs 125 crore (around $13.2 million) in debt funding. This round is led by Rajiv Poddar, alongside contributions from Indel Money, InCred Finance, and other investors. In January 2026, the firm previously obtained Rs 95 crore in debt financing from Momentum Capedge Limited.
According to the filing made by the company with the Registrar of Companies, the fundraising initiative will encompass up to 1,250 non-convertible debentures (NCDs) with a nominal value of Rs 10 lakh each, totaling to Rs 125 crore across three distinct series. Rajiv Poddar is at the forefront of this funding round with an investment of Rs 31 crore, while Indel Money is contributing Rs 21 crore. Other participants include Kredere Wealth Partner Limited with Rs 16 crore, Sovereign Pharma Pvt Ltd with Rs 15 crore, as well as InCred Finance and Manba Finance Limited, both adding Rs 10 crore each. The remaining Rs 16 crore will come from Kaushik Deva, Rama Pyarelal Tiwari, Faarah Yohan Sachdev, Rajul Narendra Mehta, and the Rama Iyer and Sunita Family Private Trust.
The proceeds from the funding will be directed towards supporting Ecozen’s growth and working capital needs. Founded by Devendra Gupta, Ecozen delivers climate-smart, deep-tech solutions leveraging core technologies like motor controls, IoT, and energy storage, with a focus on solar power. The company’s flagship products consist of Ecotron (solar pump controller), Ecofrost (solar cold storage), solar air conditioners, and solar panels.
Based in Pune, Ecozen has successfully raised over $100 million across various equity and debt financing rounds thus far. Notable investors include Nuveen, Omnivore, and Dare Ventures. The company has yet to file its financial reports for FY26. However, for the fiscal year ending March 2025, Ecozen reported a substantial increase in operating revenue, soaring 2.5 times to Rs 1,150 crore from Rs 458.5 crore in FY24, with profit climbing 4.7 times to reach Rs 95 crore.
In the climate-tech and clean energy sectors, Ecozen faces competition from firms such as Powerflex, Inficold, and Khetworks.