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Bengaluru-based cleantech startup Newtrace has secured $6.3 Mn (₹56.93 Cr) in a Pre-Series A funding round led by HDFC Bank Limited and Mitsui Sumitomo Insurance Venture Capital.
The round also saw participation from existing backers Aavishkaar Capital, Speciale Invest, Micelio Technology Fund, Peak XV’s Surge, and angel investors like Manish Prataprai Gandhi and Renu Manish Gandhi.
Founded in 2021 by Prasanta Sarkar and Rochan Sinha, Newtrace develops electrolysers to produce cost-effective green hydrogen. Its patent-pending electrolyser technology is designed to produce ultrapure hydrogen while reducing production costs by up to 60%.
In a statement, the cleantech startup said that the fresh capital will boost its commercialisation, with plans of beginning deliveries within one year.
For this, Newtrace will focus on pilot-scale manufacturing, customer validation and supply agreements, and expansion of manufacturing and engineering capabilities. As of now, the startup operates from a 30,000 sq ft facility in Bengaluru with a functional team of over 45 engineers and scientists.
“Voltagen represents a new materials foundation that enables the efficiency and durability required to make green hydrogen cost competitive. This funding allows us to transition from proving the science to scaling manufacturing,” cofounder and CEO Sarkar said.
Prior to the current funding, Newtrace raised $5.7 Mn in a seed round in 2023 to scale its operations.
The startup’s bid to bring forth a reliable renewable energy source aligns with India’s broader push to scale to green hydrogen use. In fact, a key goal of the National Green Hydrogen Mission (NGHM) is to eliminate grey hydrogen to lower carbon emissions and reduce reliance on fossil fuels.
Startups like Newtrace and its rivals Ohmium, HYDGEN and Avaada Group are building solutions to support this mission.
For context, the NGHM was launched in 2023 to make India a global hub for green hydrogen. With an outlay of ₹19,744 Cr, the Mission is built around four pillars – policy, demand creation, research and development (R&D) and enabling infrastructure.
Besides the mission, renewable energy minister Pralhad Joshi announced a new ₹100 Cr R&D scheme to back “innovative” green hydrogen startups last September, highlighting the policy push to promote innovation in the segment.
Despite this, private investor interest in the Climate Tech sub-segment has remained rather muted. The last major funding round in the segment was raised by HYDGEN in October 2025. The startup raised $5 Mn (around ₹44 Cr) in a mix of equity and debt in October 2025, to automate and upgrade its manufacturing infrastructure, scale electrolyser stack output and boost production capacity.
The post Newtrace Raises $6.3 Mn To Commercialise Green Hydrogen Tech appeared first on Inc42 Media.
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