India, Oct. 27 -- Deeptech startup HYDGEN has secured $5 Mn (around INR 44 Cr) in a mix of equity and debt in a funding round led by Transition VC. The round also saw participation from Cloudberry Pioneer Investments (Europe), Moringa Ventures (Singapore), and several family offices based out of India and Singapore.

The fresh capital will be deployed to automate and upgrade its manufacturing infrastructure, scale electrolyser stack output from the current 1-100 kW to 250 kW and drive global expansion, with immediate plans to boost production capacity in Mangalore. Besides, the startup, which is currently operating in India and Southeast Asia, also plans to expand its operations across Japan, Europe, and the Middle East.

Founded in 2024 ...