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Bengaluru based deeptech startup Newtrace has concluded a successful Pre-Series A funding round, securing $6.3 million to advance its mission of making green hydrogen economically viable at scale. The round was led by HDFC Bank Limited and Mitsui Sumitomo Insurance Venture Capital, with continued support from existing backers including Aavishkaar Capital, Speciale Invest, Micelio Technology Fund, and Peak XV’s Surge.
The Green Hydrogen Imperative
As the global energy sector accelerates its transition away from fossil fuels, green hydrogen has emerged as one of the most promising clean energy carriers. However, the high cost of production has long been a barrier to its widespread adoption. This is precisely the challenge that Newtrace was built to solve. Founded in 2021 by Prasanta Sarkar and Rochan Sinha, the company set out to reimagine the electrolyzer stack -the core component that has remained critically underinvested within the broader hydrogen value chain.
A Technology Built for Scale
At the heart of Newtrace’s proposition is Voltagen, its patent pending electrode technology. Engineered to produce ultrapure hydrogen, Voltagen is designed to reduce overall green hydrogen production costs by up to 60%. This materials level innovation directly addresses inefficiencies within the electrolyzer stack, giving the company a distinct position as demand for scalable hydrogen solutions continues to grow globally.
The company currently operates from a 30,000 square foot facility in Bengaluru, supported by a team of over 45 engineers and scientists dedicated to translating laboratory breakthroughs into manufacturable, commercial grade solutions.
From Science to Commercial Reality
With this fresh infusion of capital following a $5.7 million seed round in 2023 – Newtrace is now firmly in execution mode. The funding will be deployed to expand manufacturing and engineering capabilities, conduct pilot production runs, and initiate customer testing and supply agreements with industry partners. The company anticipates its first commercial deliveries of Voltagen electrodes within the next twelve months.
Looking Ahead
Newtrace’s trajectory reflects a broader shift in how investors are approaching the clean energy space, prioritising deep science and materials innovation over incremental improvements. As the global hydrogen economy continues to evolve, companies that address foundational inefficiencies in production are increasingly attracting institutional confidence. With capital, a credible technology platform, and a clear commercialisation roadmap, Newtrace appears well positioned to contribute meaningfully to the global clean energy transition.
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