Climate technology-focused asset financing company Stride Green has raised $3.5 million as part of its seed funding round led by Micelio Technology Fund, Incubate Fund Asia, and other strategic investors.

These funds will be utilized to provide innovative, tech-enabled financing and leasing solutions for India’s clean energy transition sectors, such as renewable energy, electric mobility, and battery storage.

The funds will also be used to expand the company’s team, bringing in critical expertise to strengthen capabilities and support future growth.

Stride Green plans to expand its presence into new regions and diversify into emerging verticals within the climate technology sector.

According to the company, India’s cleantech sector witnessed a surge in investments, surpassing China in clean technology funding during the third quarter of 2024, with deals worth approximately $2.4 billion.

Strides Green has a portfolio exceeding $120 million in green finance, comprising green loans and other sustainable financial instruments. The company manages over 3,000 cleantech assets. It provides financing for electric vehicles (EVs), EV batteries, charging stations, solar modules, and electric three-wheelers. It also offers EV leasing solutions.

Solar companies secured $4.8 billion in corporate funding in 39 deals in the first quarter (Q1) of 2025, a 41% year-over-year decrease from $8.2 billion raised in 42 deals. However, funding increased 20% quarter-over-quarter compared to $4 billion raised in 40 deals in Q4 2024.

In Q1 2025, the solar sector’s global venture capital (VC) funding was $1.4 billion in 14 deals, a 237% YoY increase from $406 million raised in 13 deals. Compared to Q4 2024, the funding rose 40% QoQ from $1 billion raised in 21 deals, according to Mercom Capital’s Q1 2025 Solar Funding and M&A Report.

The top VC/private equity-funded companies were Origis Energy, raising $1 billion; Terabase Energy, with $130 million; Mission Clean Energy, with $55 million; AMPIN Energy Transition, with $50 million; and Tandem PV, with $50 million.