Climate-tech startup Newtrace raises $6.3 million from HDFC Bank, Mitsui Sumitomo, Peak XV, others

Newtrace, a climate-tech startup developing advanced electrodes for electrolysers, has raised $6.3 million from HDFC Bank, Mitsui Sumitomo Insurance VC, and others, valuing it at $30 million. The funding will scale pilot manufacturing, validate products globally, and prepare for commercial deliveries within 12 months, CEO Prasanta Sarkar said.