Ecozen, a leading climate-smart technology solutions provider, has raised over $23 million in debt funding from responsAbility Investments AG, Northern Arc Capital Limited, Maanaveeya Development & Finance Private Limited, and others. This funding will help Ecozen drive scale in its current businesses while furthering its position as a leader in sustainable technologies.
Ecozen has recorded an outstanding CAGR of over 83% in revenue growth over the past three years, underscoring its rapid and sustained success. The company has manufactured over 300,000 Ecotron solar pump controllers to date, with an impressive 100,000 units produced between March and December 2024 alone. These innovations have contributed to the abatement of more than 2 million metric tons of greenhouse gases (GHG), including a remarkable 660,000 metric tons in 2024 alone. In addition, Ecozen’s Omni controller is enabling existing customers to utilize solar energy across a broader range of applications, while also positioning Ecozen to foray into new market opportunities.
In 2025, Ecozen is expanding its portfolio with innovative products tailored to the evolving needs of communities and businesses. With a strong commitment to sustainability and innovation, the company will continue to pave the way for a future where growth and environmental responsibility go hand in hand.
Devendra Gupta, CEO and Co-Founder of Ecozen, said, “This funding reaffirms the confidence our partners have in Ecozen’s ability to drive impactful change through innovation. We are excited to be on a rapid growth path, driven by the increasing need for sustainable, climate-smart solutions. This funding will help us reach more people, expand our operations, and strengthen our impact in India and beyond. Our focus has always been on empowering our customers and providing them with the tools they need to thrive in a changing world. I’m truly grateful for the trust and support from our investors—responsAbility, Northern Arc, Maanaveeya and others, including our existing partners, who share our vision and are helping us create lasting positive change.”
Neha Baid, Team Head, Sustainable Food Debt, APAC, at responsAbility Investments AG, added,“Ecozen’s innovative solutions resonate deeply with our commitment to support sustainable and impactful ventures that are focused on climate mitigation, food loss and waste reduction and fostering overall climate resilience. We are proud to contribute to their journey of empowering rural and industrial stakeholders with advanced climate-smart technologies.”
Mr. Ashish Mehrotra, MD & CEO, Northern Arc Capital said, “Northern Arc is delighted to support Ecozen in their journey of creating a sustainable impact through innovative technologies. This partnership underscores our unwavering commitment to addressing climate change and fostering climate-first businesses. With the launch of our USD 125 million climate fund dedicated to supporting businesses that control and mitigate climate change, we aim to empower enterprises like Ecozen to grow and prosper. Together, we strive to advance climate-sustainable solutions and contribute meaningfully to a greener, more resilient future for all.”
“Over the past four decades, Maanaveeya has supported businesses that drive social change and economic empowerment. Ecozen exemplifies the potential of innovative technology to solve real-world problems. We look forward to seeing them expand their footprint and impact even further.” highlighted Dr. Gouri Sankar, the Managing Director of Maanaveeya Development & Finance Private Limited.
About Ecozen:
Ecozen Solutions Pvt. Ltd. is a climate-smart technology solutions company that creates a positive impact on millions of lives. Our diverse product portfolio includes Ecotron, Ecofrost, Eco-Freeze, Ecozen Atta Chakki, Ecotron Omni, and E-Bike Controllers, catering to a range of industries and needs. Committed to sustainability and innovation, Ecozen continues to lead the way in advancing technologies that drive environmental and economic benefits.
About responsAbility Investments AG:
responsAbility Investments AG is a leading impact asset manager specializing in private market investments across three investment themes. These themes directly contribute to the United Nations Sustainable Development Goals (SDGs): Financial Inclusion, to finance the growth of Micro & SMEs; Climate Finance, to contribute to a net zero pathway; and Sustainable Food, to sustainably feed an ever-growing population.
About Northern Arc Capital Limited:
Northern Arc is one of the leading players amongst India’s diversified NBFCs in terms of AUM as of March 31, 2024^ dedicated to empowering the lives of underserved individuals and businesses. Powered by technology and data, Northern Arc offers a suite of solutions including lending, placements, and fund management in key sectors like MSME Financing, MFI, Consumer Financing, Vehicle Financing, Affordable Housing Financing, and Agricultural Supply Chain Finance. Since 2009, Northern Arc has facilitated the financing of over INR 1.89 trillion cumulatively, for its clients, spread across 686 districts in 28 states and 7 Union Territories in India. Our work, including that of our originator partners, has impacted the lives of over 111 million people. Northern Arc handles an AUM of INR 15,121 crores through its balance sheet and active AIF funds as of September 30, 2024.
^Source: Report titled “Analysis of NBFC sector and select asset classes” dated June 2024 prepared and released by CRISIL Research
*Disclaimer: All the numbers stated in the boilerplate are as of September 30, 2024.
About Maanaveeya Development & Finance Private Limited:
Maanaveeya Development & Finance Private Limited (Maanaveeya) is an Indian subsidiary of Oikocredit, a social impact investor and worldwide cooperative with nearly five decades of experience funding organisations active in financial inclusion, agriculture and renewable energy. Maanaveeya’s loans, equity investments and capacity building aim to enable people on low incomes to improve their living standards sustainably.
