Newtrace, a deeptech startup focused on hydrogen innovation, has secured Rs 56.93 crore (approximately $6.3 million) in a Pre-Series A funding round. HDFC Bank and Mitsui Sumitomo Insurance Venture Capital led the round, while investors such as Peak XV Partners’ Surge, Aavishkaar Capital, Speciale Invest, Micelio Technology Fund, and angel investors Manish Prataprai Gandhi and Renu Manish Gandhi also participated.
Founded in 2021 and headquartered in Bengaluru, the company focuses on developing advanced technologies for the green hydrogen sector. Specifically, Newtrace has created Voltagen, a proprietary advanced electrode technology designed for alkaline water electrolyzers. The technology significantly improves energy efficiency, extends the operational lifetime of systems, and reduces the total cost of hydrogen production.
Moreover, Voltagen works as a drop-in replacement for existing electrodes. Therefore, electrolyzer manufacturers and hydrogen producers can upgrade system performance without redesigning their current infrastructure. In addition, the company has commercialized membraneless electrolyzer technology as part of its broader innovation platform.
Entrepreneurs Prasanta Sarkar and Rochan Sinha founded Newtrace, and both founders bring deep expertise in electrochemistry, materials science, and industrial-scale technology development. Furthermore, the company operates from a 30,000-square-foot technology center in Bengaluru, where a multidisciplinary team of more than 45 engineers and scientists drives research and development.
The startup also continues to strengthen its intellectual property portfolio through multiple patent applications. At the same time, it has gained recognition under the National Green Hydrogen Mission in India. Additionally, the company presented its technology to global audiences, including a showcase before Narendra Modi during National Startup Day 2026.
“Green hydrogen’s cost problem is fundamentally a materials and manufacturing challenge,” said Prasanta Sarkar, CEO and Co-Founder of Newtrace. “Voltagen represents a new materials foundation that enables the efficiency and durability required to make green hydrogen cost-competitive. This funding allows us to transition from proving the science to scaling manufacturing.”
Meanwhile, the company continues to focus on translating its technological innovations into large-scale industrial solutions. “We built Newtrace to address the most critical and underinvested component of the electrolyzer stack,” said Rochan Sinha, CTO and Co-Founder of Newtrace. “Our focus now is on translating our technology into reliable, scalable manufacturing that can serve the global hydrogen economy.”
The company plans to use the newly raised capital to expand its manufacturing and engineering capabilities. Additionally, the funding will support pilot-scale manufacturing, customer validation programs, and supply agreements with industry partners. Consequently, Newtrace expects to begin initial commercial deliveries of Voltagen electrodes within the next 12 months.
Newtrace’s latest funding round highlights growing investor confidence in deeptech innovations aimed at accelerating the green hydrogen economy. By advancing electrode technology that improves efficiency and lowers production costs, the company positions itself as a key enabler of scalable hydrogen infrastructure. As demand for sustainable energy solutions rises globally, Newtrace’s Voltagen technology could play a crucial role in making green hydrogen commercially viable.
