Sequoia India leads $5.7m round for climate tech startup Newtrace

Newtrace co-founders Rochan Sinha (left) and Prasanta Sarkar / Photo credit: Newtrace

Demand for green hydrogen – or hydrogen that is generated by renewable energy – is expected to climb in the coming years as governments push for a cleaner future.

Newtrace, a climate tech firm based in India, is developing a new type of electrolyzer, which is used to create green hydrogen from renewable electricity. The company says its electrolyzers have lower costs and higher efficiency than what is commonly used in the market.

The startup has closed a US$5.7 million seed round led by Sequoia Capital India and Aavishkaar Capital to further develop its tech, fund new hires, and boost commercialization.

Funding details

• Funding amount: Undisclosed
• Stage: Seed
• Source

Newtrace’s electrolyzers are powered by a proprietary solution that uses no rare earth metals, according to a media statement. The company says its solution offers a “lucrative option for quick deployment and integration across industries.”

The climate tech firm is aiming to bring its products to refineries, chemical plants, steel mills, and other similar clients.

“We believe that green hydrogen has the potential to be a major player in the energy transition,” said Newtrace CTO Rochan Sinha. “With this funding, we are well-positioned to make green hydrogen a reality for a wide range of industries.”

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