NEW DELHI: Climate-smart deeptech startup Ecozen on Friday said it has raised $30 million in a mix of debt and equity from existing investors, including asset management firm Nuveen. The startup also raised debt support from the InCred Credit Fund and the US International Development Finance Corporation.
“The capital raised will enable us to scale our operations and deepen our market penetration in domestic and international territories. We are committed to empowering customers and expediting the transition to climate-smart technologies on a global scale,” Devendra Gupta, CEO-co-founder of Ecozen, said in a statement.
The latest funds will be used to cater to the growing demand for Ecozen’s innovative products and to further its commitment to climate-smart technology. The company has grown five times over the last two years, with profits growing three times as well.