Bengaluru-based climate technology startup Newtrace has raised $6.3 million in a Pre-Series A funding round to accelerate the commercialization of its green hydrogen production technology. The round was led by HDFC Bank and Mitsui Sumitomo Insurance Venture Capital, with participation from investors including Peak XV Partners (Surge), Aavishkaar Capital, Speciale Invest, and Micelio Technology Fund.
Founded in 2021 by Prasanta Sarkar and Rochan Sinha, Newtrace develops advanced components for electrolyser systems used in green hydrogen production. The company’s proprietary Voltagen electrode technology is designed to improve the efficiency and durability of alkaline water electrolysers, a key technology used to produce hydrogen using renewable electricity.
With the fresh capital, Newtrace plans to scale up its pilot manufacturing capabilities, expand its engineering and research teams, and accelerate the commercial deployment of its electrolyser components. The company is also working to validate its technology with industrial customers and establish supply partnerships with global electrolyser manufacturers.
Rather than manufacturing full hydrogen systems, Newtrace is focused on supplying high-performance electrodes and core components that can be integrated into existing electrolyser designs. This approach allows hydrogen producers to enhance system performance without major redesigns, potentially reducing costs and improving operational efficiency.
The funding comes at a time when global investments in green hydrogen technologies are accelerating, driven by efforts to decarbonize hard-to-abate sectors such as steel, chemicals, and heavy transport. Newtrace aims to position itself as a key technology supplier in the rapidly expanding green hydrogen value chain.
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