Agriculture-focused deeptech startup Ecozen has raised $10 million in funding from Nuveen Global Fund. According to Entrackr, This is the second tranche of its planned Rs 200 crore Series C round.
The board of Ecozen has passed a special resolution to issue 1,06,657 Series C2 CCPS at an issue price of Rs 7725.67 each to raise Rs 82.4 crore or $10 million, according to regulatory filings.
In June 2022, Ecozen raised Rs 54 crore in funding as part of the first tranche of a planned Series C round.
Founded by IIT Kharagpur alumni Devendra Gupta, Prateek Singhal, and Vivek Pandey, The startup develops technology-enabled products to strengthen the farm-to-fork value chain of perishables.
The company has two two core products, Ecotron and Ecofrost. While the former is powered with robust hardware and software, ensuring impeccable water output, Ecofrost is a solar cold storage room that provides freshness to farm produce.