Deeptech startup HYDGEN has raised $5 million in a mix of equity and debt funding led by Transition VC, with participation from Cloudberry Pioneer Investments, Moringa Ventures, and strategic family offices from India and Singapore.
The funds will be used to upgrade HYDGEN’s production facility to a semi-automated line, enhance its single-stack capacity to 250 kW, and expand operations to Japan, Europe, and the Middle East. The company aims to strengthen its manufacturing scale and meet the growing global demand for affordable green hydrogen systems.
A spin-off from the National University of Singapore (NUS), HYDGEN specializes in developing anion exchange membrane (AEM) electrolyzers, which allow industries to produce ultra-pure hydrogen on-site and on-demand. The firm’s proprietary technology merges the low-cost benefits of alkaline systems with the high efficiency of proton exchange membrane (PEM) systems while eliminating the need for expensive platinum-group metals.
HYDGEN’s current lineup includes products ranging from 1 kW to 100 kW, with a 250 kW model under development for large-scale industrial use. The company has already completed pilot projects across India, Singapore, and Southeast Asia, and several of its clients are transitioning to commercial-scale deployments.
According to Mohamed Shoeb Ali, Managing Partner at Transition VC, HYDGEN is among the first startups to successfully scale AEM electrolyzers to industrial levels while maintaining strong cost efficiency.
As the world accelerates toward net-zero energy systems, HYDGEN’s innovation in affordable hydrogen generation positions it as a key enabler in the clean energy transition — particularly for manufacturing, logistics, and energy-intensive sectors seeking decarbonization solutions.
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