Deeptech startup HYDGEN raises $5 million led by Transition VC

HYDGEN, a deeptech startup, has raised $5 million (Rs 44.1 crore) funding led by Transition VC. It is a mix of equity and debt funding in which Cloudberry Pioneer Investments, Moringa Ventures, and strategic family offices from India and Singapore also participated.

The startup plans to utilise the money to make ultra-pure, cost-efficient hydrogen directly available at the point of use through its proprietary Anion Exchange Membrane (AEM) electrolyser technology, according to its release.

“HYDGEN is the first team we’ve seen capable of scaling AEM electrolysers to true industrial levels while maintaining cost leadership. This is no longer a research initiative but a commercially ready platform serving industries already dependent on hydrogen today,” said Mohamed Shoeb Ali, managing partner at Transition VC.

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“Decarbonisation needs solutions that are both green and practical. HYDGEN’s decentralised model makes hydrogen generation more efficient and accessible. The company plans to use the funds to upgrade its Mangalore facility to a semi-automated line, scale its single-stack capacity to 250 kW, and expand into Japan, Europe, and the Middle East—markets seeing strong policy support for industrial hydrogen," added Khoong Hock Yun, managing partner at Moringa Ventures.

HYDGEN was founded by Manipaddy Krishna Kumar, Michael Gryseels, and Goutam Dalapati. The company's proprietary stack designs—ranging from 1 kW to 100 kW and scaling up to 250 kW—deliver ultra-high-purity hydrogen in a low-capex, modular system that empowers industries to achieve affordable and reliable hydrogen supply on-site.

“Many discuss hydrogen's focus on its role in a clean energy future, but the urgent opportunity is about enabling industries to have hydrogen where and when they need it, with purity they can trust,” said Manipaddy Krishna Kumar, co-founder and COO of HYDGEN.

"Our AEM electrolysers allow companies to produce hydrogen on-site at a competitive cost, solving supply chain challenges today while preparing them for the broader transition to green hydrogen in the years ahead," he added.