Global Infrastructure SherpaNewtrace secures $6.3 million Pre-Series A funding to advance green hydrogen electrolyser technology
USD6.3M
Deal Value
Newtrace secured $6.3 million in Pre-Series A funding for its green hydrogen electrolyser technology. HDFC Bank and Mitsui Sumitomo Insurance led the round, targeting enhanced electrolyser.
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Counterparts (3)
Investor
HDFC Bank
HDFC Bank is one of India's largest private sector banks, providing significant project finance and corporate lending to the infrastructure sector across India, with a focus on renewable energy, roads, ports, and digital infrastructure.
Mitsui
Mitsui & Co., Ltd. is a global Japanese general trading company (sogo shosha) with consolidated total assets exceeding $100 billion, spanning energy, infrastructure, chemicals, metals, and machinery. It acts as an investor, developer, and operator in large-scale infrastructure projects worldwide, with a strong focus on energy transition and digital infrastructure.
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HDFC Bank and Mitsui Sumitomo Insurance are making an early bet on green hydrogen's foundational technology, leading a $6.3 million Pre-Series A round for Bengaluru-based Newtrace. This capital injection targets the critical bottleneck of electrolyser efficiency and cost reduction, essential for making green hydrogen economically viable. For a bank and an insurance giant to back a 2021-founded startup in India, it suggests a calculated move into the underlying tech that will drive future energy transitions. This deal shows investors are looking beyond large-scale project financing to the core components needed to scale the sector.
- $6.3 million Pre-Series A funding
- HDFC Bank and Mitsui Sumitomo Insurance lead investors
- Bengaluru-based Newtrace, founded 2021
- Focus on green hydrogen electrolyser components
Timeline
Announced
Mar 11, 2026
Signed
Closed
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