🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Related News

DrinkPrime raises $3 Mn from SIDBI Ventures

EntrackrEntrackr · 1y ago
DrinkPrime raises $3 Mn from SIDBI Ventures
Medial

DrinkPrime, a subscription-based reverse osmosis (RO) water supplying startup, has raised $3 million from SIDBI Venture Capital Ltd. (SVCL), an investment management company and a wholly owned subsidiary of SIDBI. The Bengaluru-based startup had raised Rs 60 crore ($7.5 million) in a mix of equity and debt round led by Omidyar Network India, others in July 2022. Prior to that, it raised around Rs 21 crore in its pre-series A round led by Peak XV’s Surge in August 2021. Founded in 2016 by Vijender Reddy and Manas Ranjan Hota, DrinkPrime works towards enabling access to clean drinking water with Internet-of-Things (IoT)-enabled customised water purifiers on subscription to users. DrinkPrime currently provides clean drinking water access to over 2 lakh families across seven cities in India. With further expansion plans, DrinkPrime is also gearing up for its Series B fundraise. According to startup data intelligence platform, TheKredible, DrinkPrime reported an operating revenue of Rs 28.94 crore with a loss of Rs 27 crore in FY23. In the subscription model, DrinkPrime competes with Livpure, Acquaguard and ZunPure.

Exclusive: DrinkPrime raises fresh money at 30% valuation premium

EntrackrEntrackr · 7d ago
Exclusive: DrinkPrime raises fresh money at 30% valuation premium
Medial

Exclusive: DrinkPrime raises fresh money at 30% valuation premium DrinkPrime, a subscription-based reverse osmosis (RO) water supplying startup, has raised Rs 20 crore in fresh funding from Artha Venture Fund and Mirabilis Investment Trust. According to DrinkPrime’s filings with the Registrar of Companies (RoC), its board approved the allotment of 21,718 Series A3 CCPS and 10 equity shares at an issue price of Rs 9,205 per share to raise Rs 20 crore. Artha Venture Fund and Mirabilis Investment Trust have invested Rs 10 crore during the round. According to the filing, the proceeds will be utilized in line with the company’s approved business plan. As per Entrackr’s estimates, DrinkPrime’s valuation has jumped to Rs 340 crore (approximately $37 million) in the latest round compared to Rs 261 crore in its previous funding round. Following the allotment in the latest round, Artha Continuum Fund and Mirabilis Investment Trust hold a 2.94% stake each in DrinkPrime on a fully diluted basis. The Bengaluru-based startup had previously raised $3 million in a funding round led by SIDBI Venture Capital Ltd. Founded in 2016 by Vijender Reddy Muthyala and Manas Ranjan Hota, DrinkPrime operates a subscription-based water purifier platform that offers IoT-enabled purifiers to households. DrinkPrime reported a 54% increase in operating revenue to Rs 72.13 crore in FY25 from Rs 46.81 crore in FY24, while its loss decreased to Rs 11.53 crore from Rs 14.14 crore during the same period.

Fluid Analytics raises $1.6 Mn in pre-Series A round

EntrackrEntrackr · 2y ago
Fluid Analytics raises $1.6 Mn in pre-Series A round
Medial

Cleantech startup Fluid Analytics has raised $1.6 million in its pre-Series A round led by Pravega Ventures and joined by an angel investor. The proceeds will be used to execute a global scale-up expansion starting with a focus on North America, the company said in a press release. Founded by Nidhi Jain and Asim R. Bhalerao, Fluid Analytics monitors water infrastructure health, waterway conditions, and the spread of water-borne diseases at scale. The startup claims to have successfully deployed solutions, monitored over 400 million gallons (1.5 billion litres) of urban wastewater spills and enabled the treatment and reuse of over 200 million gallons (800 million litres) daily. It continues to monitor a population of over 17.5 million for water-borne diseases, as an indicator of sewage spills. Its business model helps cities to combat water pollution sustainably, collaborating with utilities, contractors, and engineering firms. Early stage venture capital fund Pravega Ventures focuses on providing seed and pre-Series A funding. Its portfolio includes Crofarm (now Otipy), Fyle, SalarySe, Cashinvoice, and GrayQuest, among others.

Dairy-tech startup ORIGHT raises $1 Mn in seed funding

EntrackrEntrackr · 1y ago
Dairy-tech startup ORIGHT raises $1 Mn in seed funding
Medial

Dairy-tech startup ORIGHT has raised $1 million in a seed funding round led by Aeravti Ventures. The Gurugram-based company had previously raised $847K from Loyal and others. The fresh funds will be deployed towards scaling its platform, expanding product offerings and further empowering the farmers, processors, and distributors it serves, ORIGHT said in a press release. Co-founded in 2019 by Utkarsh Kapoor and Rame Kachroo, ORIGHT provides an IoT device for milk traceability solution. Its IoT devices track various factors like the quality of the milk from temperature, humidity, water, FAT, SNF, and adulterants. It also tracks the milk till its final destination, covering the time spent in chillers, transport vans, and the environment at the time of final packing. Its IoT devices send the collected information directly to a blockchain network. The data is sent to the consumers’ phones every day. ORIGHT aims to build a highly efficient, synchronized supply chain for the dairy industry using cutting-edge technology. From farm to consumer, it ensures transparency, quality, and sustainability at every stage of the value chain.

Livpure raises $28 Mn from M&G Investments and Ncubate Capital

EntrackrEntrackr · 1y ago
Livpure raises $28 Mn from M&G Investments and Ncubate Capital
Medial

Water purifiers and air conditioners manufacturer Livpure has scooped up Rs 208 crore ($25 million) in funding from M&G Investments through its Catalyst investment strategy, and around Rs 25 crore ($3 million) from Ncubate Capital Partners. The proceeds will be used to speed up category expansion, product development, expand offerings, market presence and cater to evolving consumer needs in the home category, Livpure said in a press release. Founded in 2012 by Rakesh Malhotra and Navneet Kapoor, Livpure offers water purifiers, subscription-based water purifiers, air coolers, kitchen appliances, mattresses, and sleep accessories among others. As per startup data intelligence platform TheKredible, Navodhyam Trust (owned by founders) had more than 50% stake in the company as of last funding round followed by Lakshya Holding which had over 10% holding. It has raised nearly $80 million to date. Among the venture capital funded startups, Livpure competes with DrinkPrime which recently raised $3 million led by SIDBI Venture Capital. DrinkPrime’s other notable investors include Omidyar Network India and Peak XV’s Surge. In the subscription model, Livpure also competes with traditional players such as Eureka Forbes’ Acquaguard and ZunPure. For the fiscal year ended in March 2023, Livpure registered 35% growth in its operating revenue to Rs 294 crore while its losses grew only 10% to Rs 48.62 crore. Water purifiers business has been the key revenue driver for Livpure, and accounted for more than 80% of its total collection. While the company is yet to file an annual report for FY24, it claims to record a 45% growth across all business segments in the first quarter of the ongoing fiscal year (FY25).

Download the medial app to read full posts, comements and news.