Headquartered in Pune, deeptech startup Ecozen was based on-campus by three IIT Kharagpur college students: Devendra Gupta, Prateek Singhal and Vivek Pandey. It develops climate-smart deeptech options and core know-how stacks, together with motor controls, IoT, and power storage, for what its co-founders name “a sustainable future”. Applying these know-how stacks to the agricultural sector, Ecozen has established a presence within the chilly chain phase (Ecofrost) and the irrigation business (Ecotron), considerably elevating the revenue of 100,000+ farmers and enabling the technology of over one billion models of unpolluted power (kWh).
Ecofrost is a solar-powered decentralised chilly storage answer which employs progressive thermal power storage know-how, and it has seen over 450 models being deployed thus far. Ecotron is a photo voltaic pumping answer which leverages embedded IoT, predictive analytics and superior motor controls to assist enhance irrigation effectivity and agricultural profitability, having been adopted by over 70,000 farmers till now.
Backed by robust demand for its chilly chain and irrigation merchandise, Ecozen crossed Rs 100 crore in income in FY2021-22 and was Ebitda optimistic. It has additionally executed profitable pilots overseas and been in a position to generate demand in African and Southeast Asian international locations. It is on observe to greater than double its gross sales in FY2022-23 and turn into extremely worthwhile, the corporate’s co-founders say, with scaling of present companies in addition to growth in abroad markets more likely to assist future development.
Recently, Ecozen introduced that it had raised Rs 54 crore of further funding as the primary tranche of a deliberate Rs 200-crore Series C spherical. Devendra Gupta, CEO and co-founder of Ecozen, stated, “The new funding will be used for expanding our product range and manufacturing capacity, and boosting exports. Expansion outside India and in areas besides agriculture will enable the company to grow exponentially while ensuring sustainability.”
The new funding spherical was led by Dare Ventures, the enterprise capital arm of Coromandel International, with participation from present traders Caspian and Hivos-Triodos Fonds (managed by Triodos Investment Management) by way of the fairness route. Northern Arc, UC Inclusive Credit, Maanaveeya, and Samunnati participated with debt funding. Early traders in Ecozen embrace IFA and Omnivore.
Ecozen sees vital prospects for its know-how stacks, as additionally climate-smart options, in sectors apart from agriculture, notably the electrical automobile phase. It expects the market measurement for its know-how stacks in India to develop to $25 billion by 2025. It can be launching a number of merchandise within the coming years, constructing on its deep experience in thermal power storage, motor controls, IoT, and analytics.
— Ecozen’s options have raised the revenue of 100,000+ farmers and enabled technology of over one billion models of unpolluted power
— It just lately introduced that it had raised Rs 54 crore of further funding as the primary tranche of a deliberate Rs 200-crore Series C spherical
— The start-up crossed Rs 100 cr in income in FY2021-22 and was Ebitda optimistic