Newtrace Secures $6.3M Pre-Series A Funding

Newtrace, a Bengaluru-based deeptech startup specializing in high-performance electrode and electrolyzer technology for green hydrogen production, has successfully raised ₹56.93 crore ($6.3 million) in its Pre-Series A funding round. The round was co-led by HDFC Bank and Mitsui Sumitomo Insurance Venture Capital, with additional participation from Peak XV's Surge, Aavishkaar Capital, Speciale Invest, Micelio Technology Fund, and angel investors Manish Prataprai Gandhi and Renu Manish Gandhi. This capital infusion will be primarily used to scale up pilot manufacturing of Newtrace's proprietary Voltagen electrodes, validate its technology with customers, and expand its engineering and manufacturing capabilities. Newtrace aims to address the high cost of green hydrogen production, which currently hinders its widespread adoption, by improving energy efficiency and extending the lifetime of electrolyzer systems. The company expects to begin initial commercial deliveries of its Voltagen electrodes within the next 12 months, positioning itself to support India's National Green Hydrogen Mission and the global decarbonization efforts.