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Caspian, Hivos-Triodos Fund invest in agritech, clean energy-focussed Ecozen Solutions

Our Bureau Hyderabad | Updated on July 13, 2019 Published on July 12, 2019

Impact investment firm Caspian has invested in Ecozen Solutions, a provider of technology-enabled products that strengthen the farm to fork value chain of perishables.

This undisclosed investment comes from Caspian’s Fourth SME Impact Fund and Hivos-Triodos Fund, managed by globally active impact investor Triodos Investment Management, the Netherlands. Existing Investor Omnivore partners also participated in this round.

The Pune-based agritech and clean energy-focussed company had previously raised $2.5 million in a combination of debt and equity from Caspian and Omnivore Partners.

Founded in 2009 by three IIT-KGP alumni, Devendra Gupta, Prateek Singhal, and Vivek Pandey, Ecozen envisions to strengthen the perishable supply chain using tech-enabled products and solutions.

“The funds raised will enable us to scale our irrigation and cold chain business and help us set-up the market linkage platform,” said Devendra Gupta, Co-Founder and Chief Executive Officer at Ecozen.

At present Ecozen products are present in 20,000 farms and have touched the lives of more than 65,000 people. The company will utilize this investment to develop a new cold chain enabled product for the perishable value chain.

Ravi Narasimham, Investment Director, Caspian, said, “We see that the Company’s strategy has a perfect blend of promoting sustainable agriculture and storage, by using solar energy-based water pumping systems and cold storage facilities. These products are affordable and reliable and meet the key requirements of the Farming community.”

“As a company that enables better livelihoods for farmers using technology and innovation, one that offers renewable-based energy products that cater to agri-focussed markets, Ecozen is a natural partner for us,” said Karel Nierop, Fund Manager of Hivos-Triodos Fund.

Published on July 12, 2019
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