Coromandel International Ltd, an agri solutions company, has increased its stake in climate-smart technology solutions firm Ecozen to 5.54 per cent, an increase of 3.13 per cent.
The company invested ₹24 crore in Ecozen through its corporate venture capital arm Dare Ventures Ltd.
“Ecozen is known for its solar-powered irrigation (Ecotron) and cold chain systems (Ecofrost) that have positively impacted the lives of over 1.80 lakh farmers in the country,” a Coromandel statement said on Monday.
“Ecozen, which registered a turnover of ₹274 crore in 2022-23, is planning to expand its offerings and market presence into Africa and South-East Asia to build climate-smart solutions for agriculture,” it said.