Newtrace, which is working on electrodes and electrolyser technology for green hydrogen production, has raised ₹56.93 crore ($6.3 million) in a Pre-Series A funding round.

The round was led by HDFC Bank Limited and MITSUI SUMITOMO INSURANCE Venture Capital. Participants include Peak XV’s Surge, Aavishkaar Capital, Speciale Invest, Micelio Technology Fund and angel investors Manish Prataprai Gandhi and Renu Manish Gandhi.

The new funding will support pilot-scale manufacturing, customer validation, supply agreements, and expansion of engineering capacity. Newtrace expects initial commercial deliveries of Voltagen electrodes within 12 months.