Total amount raised
$106.6 Millions
Latest funding date
1/1/2025
Location
Ecozen has successfully raised significant funding through multiple rounds, with notable investors such as responsAbility Investments and Northern Arc Capital. The company specializes in agricultural technology solutions, including solar cold storage and solar pump controllers.
Keep reading to explore the intricacies of Ecozen's fundraising journey and the investors backing this innovative platform.
What Is Ecozen?
Ecozen, founded on October 20, 2010, in Pune, Maharashtra, India, is a technology company dedicated to creating a farm-to-fork value chain for perishables. The company was established by Devendra Gupta, Prateek Singhal, and Vivek Pandey.
Ecozen offers innovative agricultural technology solutions, including solar-powered cold rooms (Ecofrost) and smart controllers for irrigation pumps (Ecotron). These products aim to increase the shelf life of produce, provide efficient irrigation solutions, and connect farmers with potential buyers.
With a workforce of 251-500 employees, Ecozen continues to impact the agricultural sector by promoting sustainable and smart farming practices.
How Much Funding Has Ecozen Raised?
- Series A
- Amount Raised: Not publicly disclosed
- Date: July 2019
- Lead Investors: Caspian Impact Investments, Triodos Investment Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's product offerings and market reach.
- Series B
- Amount Raised: $6 million
- Date: December 2019
- Lead Investors: Sathguru Catalyzer Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale up production and enhance technological capabilities.
- Series C
- Amount Raised: ₹540 million
- Date: June 2022
- Lead Investors: Dare Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and market their core products.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: June 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and product development.
- Series C
- Amount Raised: ₹2.9 billion
- Date: January 2023
- Lead Investors: Dare Ventures, Nuveen
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and enhance product offerings.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: January 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support scaling of existing operations.
- Venture Round
- Amount Raised: $30 million
- Date: April 2024
- Lead Investors: Nuveen
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To drive technological advancements and market expansion.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: April 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing business operations.
- Venture Round
- Amount Raised: ₹240 million
- Date: May 2024
- Lead Investors: Dare Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product lines and market reach.
- Debt Financing
- Amount Raised: $23 million
- Date: January 2025
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale existing product portfolio and strengthen sustainable technologies.
Total Amount Raised: $59 million + ₹3.68 billion
Current Valuation: Not publicly disclosed
Key Investors
- responsAbility Investments AG
- Details: responsAbility Investments AG is a Zurich-based asset manager specializing in development investments. They focus on creating sustainable and impactful ventures in emerging markets.
- Investment Focus Areas: Sustainable investments, impact investing, climate finance.
- Notable Investments: Various companies in renewable energy, sustainable agriculture, financial inclusion.
- Northern Arc Capital Limited
- Details: Northern Arc Capital Limited is a financial services platform in India that provides access to debt for underbanked individuals and businesses. They aim to address climate change and foster climate-first businesses.
- Investment Focus Areas: Financial inclusion, microfinance, small and medium enterprises (SMEs).
- Notable Investments: Financing for microfinance institutions, SMEs, affordable housing.
- Maanaveeya Development & Finance Private Limited
- Details: Maanaveeya Development & Finance Private Limited is an Indian subsidiary of Oikocredit, a social impact investor. They focus on development finance and sustainable development projects.
- Investment Focus Areas: Development finance, sustainable development, impact investing.
- Notable Investments: Various projects and companies focused on sustainable development and impact.
- Nuveen Global Fund
- Details: Nuveen Global Fund is a global investment manager that provides a range of financial services and investment products. They have a strong focus on sustainable and impact investments.
- Investment Focus Areas: Real estate, infrastructure, sustainable and impact-driven projects.
- Notable Investments: Investments in real estate, infrastructure, various sustainable projects.
- Sathguru Catalyzer Advisors
- Details: Sathguru Catalyzer Advisors is an investment firm that focuses on catalyzing growth in innovative and sustainable businesses. They have a strong presence in the agricultural and technology sectors.
- Investment Focus Areas: Agriculture, technology, sustainable businesses.
- Notable Investments: Various companies in agriculture, technology, and sustainability sectors.
What's Next for Ecozen?
Ecozen stands at the cusp of significant growth, driven by the increasing demand for sustainable, climate-smart solutions. With a recent $23 million funding boost, the company is poised to scale its flagship products like Ecotron and Ecofrost, and expand its portfolio to include advanced motor control systems and e-bike controllers. The opportunities are vast, with Ecozen already experiencing a CAGR of over 83% in revenue growth and manufacturing over 300,000 solar pump controllers to date.
Future fundraising seems promising, given the company's rapid growth and the rising interest in renewable energy and climate-smart technologies. Investors are likely to be drawn to Ecozen's proven track record and potential for further expansion. However, challenges such as scaling production to meet demand, maintaining high growth rates, and navigating a competitive landscape in the renewable energy sector remain. Despite these hurdles, Ecozen's innovative approach and strong financial backing position it well for continued success.
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