Funding · Climate, Energy & Sustainability

Ecozen raises Rs 125 Cr debt financing for growth

By Startup Enthusiast · 17 July 2026

What they do

Ecozen provides climate smart deep tech solutions including motor controls and solar power systems

The company raised Rs 125 Cr via non convertible debentures led by Rajiv Poddar

FY25 revenue jumped to Rs 1150 Cr showing strong operational growth and profitability

Ecozen secured Rs 125 Cr in debt financing through the issuance of non convertible debentures.
Non convertible debentures are bonds that cannot be changed into equity shares later.
The deal was structured across three series with a face value of Rs 10 lakh per unit.
Rajiv Poddar led the investment round with a contribution of Rs 31 Cr.
Other participating investors included Indel Money, Kredere Wealth Partner Ltd, and Sovereign Pharma Pvt Ltd.
Individual investors and trusts contributed the remaining Rs 16 Cr to complete the funding.
The funds will support growth initiatives and meet working capital requirements for operations.
This follows a previous Rs 95 Cr debt funding round from Momentum Capedge Limited in January 2026.

The financing highlights strong investor confidence in Ecozen's sustainable technology business model.
Debt financing allows the company to raise capital without diluting existing shareholder equity.
Strong financial performance supports the ability to secure significant debt instruments.

Ecozen develops climate smart deep tech solutions for energy efficiency and sustainability.
Key products include the Ecotron solar pump controller and Ecofrost solar cold storage units.
The company also manufactures solar AC units and solar panels for various applications.
Its technology leverages motor controls and IoT to optimize energy consumption and storage.
Competitors in this space include Powerflex, Inficold, and Khetworks.
The firm operates in the broader renewable energy and climate technology sector.
It serves customers requiring efficient solar-powered cooling and irrigation solutions.
The business model relies on selling hardware and technology for energy management.
Existing backers like Nuveen, Omnivore, and Dare Ventures have supported its growth.

The company plans to use the funds for growth support and working capital needs.

Rajiv Poddar (lead) — Invested Rs 31 Cr as the lead participant in this debt round.
Indel Money (participated) — Participated with an investment of Rs 21 Cr.
Kredere Wealth Partner Ltd (participated) — Participated with an investment of Rs 16 Cr.
Sovereign Pharma Pvt Ltd (participated) — Participated with an investment of Rs 15 Cr.
InCred Finance (participated) — Participated with an investment of Rs 10 Cr.
Manba Finance Ltd (participated) — Participated with an investment of Rs 10 Cr.

Product: Solar-powered systems including water pumps, cold storage, air conditioners and rooftop panels.
Customers: Small and marginal farmers, with broader climate-tech customers as the business scales.
How it makes money: Sells solar-powered hardware and related climate-tech products, supported by debt-financed working capital and scale-up.
What sets it apart: Combines solar power with core technology stacks such as motor controls, IoT and energy storage.
Operations: Manufactures and deploys solar pump controllers and other climate-smart systems from Pune.