Newtrace Raises $6.3 Mn To Commercialise Green Hydrogen Tech

Company Overview - Newtrace, a Bengaluru-based cleantech startup, has secured $6.3 million (₹56.93 crore) in a Pre-Series A funding round led by HDFC Bank Limited and Mitsui Sumitomo Insurance Venture Capital [1][2] - Founded in 2021 by Prasanta Sarkar and Rochan Sinha, Newtrace develops electrolysers aimed at producing cost-effective green hydrogen, with a patent-pending technology that can reduce production costs by up to 60% [2][4] Funding and Future Plans - The fresh capital will be utilized for pilot-scale manufacturing, customer validation, supply agreements, and expanding manufacturing capabilities, with plans to begin initial commercial deliveries of Voltagen electrodes within the next 12 months [1][3] - Prior to this funding, Newtrace raised $5.7 million in a seed round in 2023 to scale its operations [4] Industry Context - Newtrace's efforts align with India's National Green Hydrogen Mission (NGHM), which aims to eliminate grey hydrogen and reduce reliance on fossil fuels, with a total outlay of ₹19,744 crore [5][6] - The NGHM focuses on four pillars: policy, demand creation, research and development (R&D), and enabling infrastructure, and includes a new ₹100 crore R&D scheme to support innovative green hydrogen startups [6] Market Dynamics - Despite the potential of the Climate Tech sub-segment, private investor interest has been relatively muted, with the last major funding round in the segment occurring in October 2025, when HYDGEN raised $5 million (around ₹44 crore) [7]