Coromandel International Increases Stake In Ecozen With INR 24 Cr Investment
India, May 6 -- Fertiliser company Coromandel International Limited has increased its stake in Pune-based deeptech startup Ecozen, with an additional investment of INR 24 Cr.
With the infusion made via its wholly-owned subsidiary and corporate venture arm Dare Ventures Limited, Coromandel's shareholding in Ecozen increased to 5.54% from 3.13%.
Jayashree Satagopan, president and CFO of Coromandel International Limited, said, ".Our increased shareholding in Ecozen reflects our confidence in the company's ability to drive positive change and create long-term value for stakeholders."
The fresh development comes close on the heels of Ecozen bagging $30 Mn in a mix of equity and debt funding earlier last month.
While the equity round was le...
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