Deep-tech engineering startup Hycosys has raised over $1 million (approximately ₹9 crore) in a seed funding round led by MountTech Growth Fund – Kavachh.
Goyel & Goyal advised lead investor MountTech Growth Fund - Kavachh on all aspects of this transaction, including legal due diligence, negotiation and finalization of transaction documents, and closing.
The transaction team was led by Akshit Goyal (Partner) with key assistance from Abhipriy Burman (Associate).
The due diligence team consisted of Akshit Goyal, Avinash Kumar (Senior Associate), and Associates Meenakshi Shriram, Abhipriy Burman, Raghav Thareja, Stuti Vajpayi and Riya Kapoor.
Co-founded in 2024 by Tapish Agarwal and Ugandhar Reddy, Hycosys is a Bengaluru-based deep-tech engineering startup building fuel-flexible, low-emission micro gas turbine systems engineered from first principles, with a focus on developing hydrogen-ready and clean fuel-flexible micro gas turbines for distributed clean power, mobility, and aerospace applications.
The fresh funds will be deployed to strengthen the engineering team, access advanced testing facilities, develop a micro gas turbine (MGT), and demonstrate a working clean energy alternative to diesel-based power generators by mid-2027, Hycosys said in a press release.
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