Tech
Ecozen to raise Rs 111 Cr debt from UTI and Spark Investment
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Climate-focused deeptech startup Ecozen has raised Rs 111.6 crore (around $12.5 million) in debt funding from UTI International Wealth Creator and Spark Alternative Investment fund.
According to its filing sourced from the Registrar of Companies (RoC), Ecozen’s board approved the issuance of 500 non-convertible debentures (NCDs) to Spark Alternative Investment Firm and 616 non-convertible debentures (NCDs) to UTI International Wealth Creator at a face value of Rs 10 lakh each to raise the amount as mentioned above.
The proceeds will be used for…
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