Climate tech startup Newtrace is set to raise Rs 28 crore (approximately $3.12 million) in a pre-Series A round from HDFC Bank and Japan-based Mitsui Sumitomo Insurance. Existing investors Aavishkaar Capital, Peak XV Partners, Speciale Invest, and Micelio Fund also joined the new round which materialised after a gap of nearly three years.
The board at Newtrace has passed a resolution to approve the issue of 2,541 pre-Series A CCCPS at an issue price of Rs 111,694 each to raise the above sum, according to a filing with the Registrar of Companies (RoC).

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