The threat of climate change looms large and there is an urgent need to make concentrated efforts towards de-carbonisation. One such climate-tech startup is Newtrace, which aims to transform the global green hydrogen market.

Newtrace develops and manufactures innovative electrolysers that aim to reduce the cost of green hydrogen production by over 60 percent. The company also raised $5.65 million in a seed round led by Sequoia India and Aavishkaar Capital.

In an interview with CNBC-TV18, Prasanta Sarkar, co-founder and CEO of Newtrace said the company will utilise the funds to drive the expansion of electrolyser manufacturing and deployment capabilities in India.

Sarkar also highlighted that the company wants to enable hydrogen production from water at cheaper costs compared to hydrogen produced from fossil fuels.

“We want to enable the production of hydrogen from water and renewable electricity which would be at par or cheaper than fossil fuel-based hydrogen. To achieve this we leverage advances in precision fluid engineering to produce and separate the oxygen and hydrogen,” Sarkar said.

He added that the technology has been developed indigenously in India which has drastically reduced the capex and improved the efficiency of the system.

“We have developed the core technology indigenously in India and we do not have a dependence on any of the rare earth metals that typical electrolysers would have. So that has drastically reduced the capex of electrolysers while also improving the operational efficiencies of the system,” Sarkar said.

Also Read: Climate Change Warning — Human induced warming reached record high in a decade, finds new study

Also watch Rahul Anand, founder, and CEO of Hopscotch discuss how the company plans to utilise its Series E fundraise of $20 million. Hopscotch is an Indian brand offering fashion wear for kids. The funding round was led by Amazon and also saw participation from existing investors including IIFL Seed Venture Fund, RPG Ventures, Lionrock and Techpro Ventures. Facebook co-founder Eduardo Saverin also invested in the round.

Moreover, edtech unicorn Physics Wallah announced a strategic partnership with Kerala-based edtech company Xylem Learning to strengthen its presence in the southern market.

Prateek Maheshwari, co-founder of Physics Wallah and Ananthu S, founder & CEO of Xylem Learning discussed how they plan to consolidate their position in states like Tamil Nadu and Andhra Pradesh over the next three years.

Xylem is a Kerala-based edtech startup for medical and engineering entrance exam preparation and provides free classes to over 3 million students via YouTube. It also has more than 1.3 lakh paid students across its online channels and offline & hybrid centres.

Watch the video for more.