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...