Capital-A, India’s first venture fund dedicated to manufacturing, has anchored a ₹16.5 crore seed investment in Enerzi, a deep-technology manufacturing firm specialising in microwave-plasma hydrogen production and advanced carbon materials. The funding round also attracted participation from 8x Ventures along with a group of angel investors.
Headquartered in Belgaum, Karnataka, Enerzi is advancing an innovative method for producing clean hydrogen using microwave plasma reactors. Its technology converts methane into hydrogen while simultaneously producing solid carbon nanopowder, improving cost efficiency and creating opportunities in sectors such as battery manufacturing, composites and advanced materials.
In addition to its hydrogen platform, Enerzi designs and supplies industrial microwave heating systems used in rubber processing, polymer curing, foundry drying and materials engineering. These systems offer precise temperature control and improved energy performance, forming a strong technical base that supports its move into methane plasmolysis through expertise in hardware development, material sciences and process automation.
The fresh investment will be used to expand production capabilities, reinforce specialist teams in engineering and plasma sciences, and speed up the commercial rollout of its hydrogen and nanocarbon solutions across domestic and international markets.
Prakash Mugali, Founder and CSO of Enerzi, stated, “This funding recognises the progress we have made in microwave engineering, hydrogen production and nanocarbon development. It will help scale our manufacturing, strengthen research in plasma and nanomaterials, and move us faster from pilot stages to large-scale deployment. Our vision is to establish a robust, efficient and environmentally responsible clean hydrogen and nanocarbon platform from India.”
Ankit Kedia, Founder and Lead Investor at Capital-A, commented, “Enerzi represents the type of innovation needed to build India’s clean energy and advanced materials landscape. Their approach to translating plasma science into scalable manufacturing solutions aligns with our focus on long-term, high-impact ventures. We are pleased to support them in their growth journey.”
As part of its efforts to strengthen the manufacturing ecosystem, Capital-A partnered with SanchiConnect to introduce Maxcel, an accelerator programme dedicated to hardware and industrial technology ventures. The initiative offers customised market access support and has drawn over 2,000 applications, with Enerzi emerging as one of its notable success stories.
Capital-A is India’s first venture capital firm focused solely on manufacturing, supporting startups in hardware, deep technology and climate solutions. Established in 2021, it provides long-term capital to early-stage companies in advanced manufacturing. Currently deploying resources from its ₹400 crore Fund II, the firm has invested in more than 20 startups including Matchlog, Tan90, Agrileaf and Manastu. Capital-A actively supports its portfolio through operational expertise, industry connections and strategic guidance to enable sustainable growth.
Enerzi is a clean hydrogen technology company driving innovation in hydrogen production through advanced plasma systems backed by over 20 years of microwave technology expertise. While clean hydrogen forms its core focus, the company also generates stable revenue through its industrial microwave solutions. Its production of carbon nanopowders enhances the commercial feasibility of hydrogen generation, contributing to sustainable industrial practices and a lower carbon footprint.
