Bengaluru-based clean energy startup Newtrace has raised $6.3 million (₹56.93 crore) in a Pre-Series A funding round to expand its green hydrogen technology and move towards commercial production, Inc42 reported.
The funding round was led by HDFC Bank and Mitsui Sumitomo Insurance Venture Capital. Existing investors, including Aavishkaar Capital, Speciale Invest, Micelio Technology Fund and Peak XV’s Surge, also participated in the round. Angel investors Manish Prataprai Gandhi and Renu Manish Gandhi joined as well.
Founded in 2021 by Prasanta Sarkar and Rochan Sinha, the company develops electrolysers that are used to produce green hydrogen. The startup said its technology can produce very pure hydrogen while reducing production costs by up to 60 percent.
The company plans to use the new funds to begin commercialising its technology and expects to start delivering its products within a year. As part of this plan, it will focus on pilot-scale manufacturing, testing its technology with customers and strengthening supply agreements, while also expanding its engineering and production capacity.
Newtrace currently operates from a 30,000 square foot facility in Bengaluru and has a team of more than 45 engineers and scientists.
The startup had earlier raised $5.7 million in a seed funding round in 2023 to expand its operations.
The company’s work supports India’s efforts to increase the use of green hydrogen under the National Green Hydrogen Mission, launched in 2023 to make the country a global hub for green hydrogen. The mission has a total budget of ₹19,744 crore and focuses on policy support, demand creation, research and development, and building the required infrastructure.
Several other companies, including Ohmium, HYDGEN and Avaada Group, are also working on technologies to support the country’s green hydrogen plans.
However, investment activity in climate technology startups has remained limited in recent months. One of the last major funding rounds in this segment was raised by HYDGEN in October 2025, when it secured $5 million in equity and debt to upgrade its manufacturing systems and increase production capacity.
