🚀 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 · 23d 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.

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).

Climate tech startup FluxGen raises Rs 28 Cr in pre-Series A

EntrackrEntrackr · 1y ago
Climate tech startup FluxGen raises Rs 28 Cr in pre-Series A
Medial

Climate tech company FluxGen Sustainable Technologies has raised Rs 28 crore in a pre-Series A funding round led by IAN Alpha Fund. The round also saw participation from Rainmatter, Gameskraft Technologies, Intersection Ventures, and Force Ventures, along with existing investors Axilor Ventures and Arali Ventures. The funds will be used to scale FluxGen’s AI and IoT-powered water management solutions, expand into new industrial markets, and strengthen customer acquisition efforts in India and internationally, the company said in a press release. Co-founded in 2021 by Ganesh Shankar and Emanuel Deepak, FluxGen provides end-to-end water intelligence solutions, enabling real-time monitoring, predictive analytics, and regulatory compliance for industries. The startup’s patent-pending products and flagship platform, AquaGen, empower companies to optimize water usage, prevent wastage, and mitigate water-related operational and supply-chain risks. The Bengaluru-based company claims to have over 110 clients, including industry giants such as TATA Steel, Aditya Birla Group, Care Hospitals, Mahindra Group, and Microsoft. It serves high water-use sectors like metals and mining, food and beverage, textiles, pharmaceuticals, automotive, and healthcare. The company also claims that its customers have reported up to a 30% reduction in water consumption. According to market research, the Indian smart water management market is projected to be valued at over Rs 42,000 crore over the next 7–10 years, with an annual Rs 5,000 crore SaaS opportunity. FluxGen leverages cutting-edge technologies such as Artificial Intelligence (AI), Generative AI, Geospatial Imaging, and Cloud Computing and aims to make water data as transparent as water itself. Through AI-driven analytics, the company enables real-time monitoring of entire water networks, offering prescriptive insights to optimize water systems, minimize wastage, and enhance water management while mitigating risks. FluxGen states that it has partnered with Cisco, KPMG, and Microsoft, and its solutions are trusted by clients across various sectors, including natural resources, manufacturing, smart cities, commercial real estate, and healthcare facilities. The company’s solutions are designed for seamless scalability across diverse use cases and geographies. FluxGen plans rapid expansion both domestically and internationally, particularly in the Middle East and Africa, regions where water scarcity is a critical concern.

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