About NewTrace
NewTrace is an Energy & Utilities company based in Bengaluru (India) founded in 2020 by Rochan Sinha and Prasanta Sarkar. Electrolyzers are developed for green hydrogen generation and sector decarbonization. NewTrace has raised $13 million across 4 funding rounds from investors including Peak XV Partners, Speciale Invest and IKP Knowledge Park. The company has 44 employees. NewTrace was last valued at $24.8 million in May 2023. Its chief executive, as recorded, is Prasanta Sarkar. Its Indian entity Newtrace Private Limited reported revenue of ₹1.02 Cr. NewTrace offers products and services including H2 Electrolyzers and Electrolyzer Software. Its focus areas include Energy Tech, Energy Storage Tech, Hydrogen and Hydrogen Generation.
Company details
NewTrace was founded in 2020 in Bengaluru, India, focusing on the clean energy sector. Electrolyzer technology is provided to facilitate green hydrogen production. Decarbonization efforts in mobility, industrial, energy, and chemical sectors are supported through these operations. The companys electrolyzers enable hydrogen generation as a key component in sustainable energy transitions.
- Headquarters Bengaluru, India
- Employees 44
- Founders Rochan Sinha, Prasanta Sarkar
- Stage Minicorn
- SectorsEnergy & Utilities
- Email••••••••
- Phone•••• ••••
- Website newtrace.io
- Social LinkedIn X
- Legal Name Newtrace Private Limited
- Date of Incorporation 13 Oct, 2021
- Jurisdiction Bangalore, Karnataka, India
- Annual Revenue₹1.02 Cr
FY 2026 · -71% YoY
- Net Loss-₹13.54 Cr
FY 2026 · -3990% margin
- EBITDA-₹12.62 Cr
FY 2026 · -3717% margin
- Total Equity Funding$13M (USD)
in 4 rounds
- Latest Funding Round$6.3M (USD), Seed
Mar 2026
- InvestorsPeak XV Partners
& 13 more
- Employee Count44
Associated legal entities of NewTrace
NewTrace operates through Newtrace Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2026) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Newtrace Private Limited CIN U31900KA2021PTC153080 | Active | 13 Oct 2021 | Bangalore, Karnataka | ₹1.0 Cr | 35 | 4 | View details |
Products & Services of NewTrace
NewTrace offers a comprehensive portfolio of products and services, including H2 Electrolyzers and Electrolyzer Software.
Device that produces green hydrogen through water electrolysis
Software for controlling and optimizing hydrogen production systems
Funding Insights of NewTrace
NewTrace has successfully raised a total of $13M across 4 strategic funding rounds. The most recent funding activity was a Seed round of $6.3 million completed in March 2026. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $13M
- Total Rounds 4
- Last Round Seed — $6.3M
- First Round $1M
(Jun 2022)
- Investors Count 14
All 4 funding rounds of NewTrace with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar 2026 | $6.3M | Seed | – | HDFC Bank, Mitsui Sumitomo Insurance Venture Capital | |
| Nov 2023 | Seed | – | – | ||
| May 2023 | $5.7M | Seed | $24.8M | Peak XV Partners, Aavishkaar Capital | |
| Jun 2022 | $1M | Seed | $4.43M | Speciale Invest |
| Date | Valuation | Stage |
|---|---|---|
| May 2023 | $24.8M | •••••••• |
| Jun 2022 | $4.43M | •••••••• |
Last known valuation $24.8M (May 2023). 14 investors in total: 8 institutional and 6 angel.
Investors in NewTrace
NewTrace has secured backing from 14 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include Peak XV Partners, Speciale Invest and IKP Knowledge Park.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Acceleration is provided to startups across multiple sectors by Surge. | surgeahead.com | |||
Investing in deep tech startups with a focus on early-stage innovations in technology and engineering. | 2017 | specialeinvest.com | Bengaluru, India | |
Seed fund VC firm investing in EV ecosystem | micelio.com | Bengaluru, India | ||
Med-tech startups are incubated by IKP Knowledge Park. | 1999 | ikpknowledgepark.com | Hyderabad, India | |
Venture capital firm investing in startups and providing support programs. | 2000 | peakxv.com | Bengaluru, India | |
Venture capital firm | aavishkaarcapital.in | Mumbai, India | ||
| msivc.co.jp | ||||
| hdfcbank.com | ||||
AG Ashish Goel | Founder of Urban Ladder, active angel investor in Indian startups | unknown_10a411877bf0437ab | ||
AS Amit Shrinivas Soman | unknown_3f703d7e3834401aa |
Investor details for NewTrace
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
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Verified entity values are shown only after access is granted.
Board of directors of Newtrace Private Limited (NewTrace)
Newtrace Private Limited is the primary company behind NewTrace. The board of Newtrace Private Limited currently have 3 directors; the longest-serving is Prasanta Sarkar, appointed in 2021. 1 earlier director has ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Prasanta Sarkar DIN 09359368 | Director | 13 Oct 2021 | 5 yrs 1 mo | Newtrace Private Limited |
| Rochan Sinha DIN 09359369 | Director | 13 Oct 2021 | 5 yrs 1 mo | Newtrace Private Limited |
| Visesh Rajaram DIN 01474286 | Nominee Director | 21 Jun 2022 | 4 yrs 4 mo | Newtrace Private Limited |
People of NewTrace
9 people are tracked at NewTrace (2 in leadership, 7 in team); the tracked headcount is 44.
| Name | Role | Group |
|---|---|---|
| Co-Founder & CTO | Leadership | |
| Co-Founder & CEO | Leadership | |
Shiva Reddy Gunthakanti | AVP Strategy And Partnership | Team |
Nishmitha D D | Associate - Finance And Accounts | Team |
Tresa Jose | Talent Acquisition Specialist | Team |
Suraj Rawat | Sr. Manager | Team |
Shreesha Kumar Undemane Shreekrishna | Process Engineer | Team |
Andrew Amala Kumar Philip | Senior Manager | Team |
Dinobhandu Mitra | Design And Simulation Engineer | Team |
Complete people profiles for NewTrace
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Verified entity values are shown only after access is granted.
Financials of NewTrace
Figures of Newtrace Private Limited, the primary company behind NewTrace, for FY 2026. Revenue was ₹1.02 Cr (-71% year on year). Net loss was -₹13.54 Cr (-3990% margin). EBITDA was -₹12.62 Cr (-3717% margin). Revenue has grown at a compounded annual rate of +114% over three years and 0% over five years.
- ₹1.02 CrRevenue · FY 2026 · -71% YoY
- -₹13.54 CrNet loss · -3990% margin
- -₹12.62 CrEBITDA · -3717% margin
- ₹2 LakhPaid-up capital
- 35Employees (provident fund records)
- +114%Revenue CAGR, 3 years
- 0%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Newtrace Private Limited are on its company page.
Detailed financial statements for NewTrace
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
- Financial ratios
- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Timeline of NewTrace
4 dated milestones of NewTrace across 6 years, from founding to its latest funding, stage changes and deals.
- Founded NewTrace is founded.
- Funding First funding round of $1.0M.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Seed, of $6.3M.
Web traffic of NewTrace
The website of NewTrace (newtrace.io) receives about 1.2K visits a month.
- Monthly visits1.2K
▼ 13% vs previous month
Top companies in Energy Storage Systems
2 companies that operate in the same segment as NewTrace (Energy Storage Systems) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Provider of EV battery-swapping network | 2019 | Gurugram, Haryana, India | USD 187.76 M | USD 22.56 M | 482 | |
Lithium-ion batteries for electric vehicles are manufactured across categories. | 2006 | Gurugram, Haryana, India | USD 34.18 M | 177 |
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Frequently Asked Questions about NewTrace
NewTrace was founded in 2020 and raised its 1st funding round 2 years after it was founded.
NewTrace is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Prasanta Sarkar is the CEO of NewTrace, as recorded in our data. They have also founded this company.
NewTrace is a funded company, having raised a total of $13M across 4 funding rounds to date. The company's 1st funding round was a Seed of $1M, raised on Jun 2022.
NewTrace has 44 employees.
The primary company behind NewTrace, Newtrace Private Limited, reported revenue of ₹1.02 Cr for FY 2026, down 71% year on year.
NewTrace was founded in 2020 in Bengaluru, India, focusing on the clean energy sector. Electrolyzer technology is provided to facilitate green hydrogen production. Decarbonization efforts in mobility, industrial, energy, and chemical sectors are supported through these operations. The companys electrolyzers enable hydrogen generation as a key component in sustainable energy transitions.
NewTrace offers H2 Electrolyzers and Electrolyzer Software.
NewTrace has 14 investors. Key investors include Peak XV Partners, Speciale Invest, IKP Knowledge Park, Surge, and Micelio.
The valuation of NewTrace is $24.8M as of May 2023.
NewTrace operates through Newtrace Private Limited.
The legal entities of NewTrace currently have 3 directors, including Prasanta Sarkar, Rochan Sinha, Visesh Rajaram.