You can get e-magazine links on WhatsApp. Click here TOP NEWS DrinkPrime raises Rs 60 cr in Series A round led by Omidyar, Surge & 9Unicorns Friday, 22 July, 2022, 14 : 00 PM [IST] Our Bureau, Bengaluru DrinkPrime, the IoT-enabled customised water purifier on subscription, raised Rs 60 crore in its Series A round. The company plans to invest in people, product and infrastructure to ensure they serve 1 million homes by 2026. The round was led by marquee investors like Omidyar Network India, Surge Sequoia and 9Unicorns at a time when the market is witnessing a steep capital crunch.   Speaking about the fundraise and the roadmap for the company, Vijender Reddy Muthyala, co-founder and CEO, DrinkPrime, said, “We are a  drinking water company not a water purifier manufacturer. We raised funds to move closer to our goal of making safe drinking water accessible to the majority of India. We will do everything it takes to ensure we serve 1 million subscribers by 2026.”   The leading water purifier brand in Bengaluru has been growing exponentially over the past six months serving 1 lakh+ users across Bengaluru, Delhi, Faridabad, Ghaziabad, Gurgaon, Hyderabad and Noida.   “Our subscriber base grew by 330% this year. With the rising interest in our service offering across several geographies, we expect to maintain the momentum we’ve picked up over the last few months,” said Manas Ranjan Hota, co-founder and COO, DrinkPrime.   Badri Pillapakkam, partner, Omidyar Network India, said, "We are delighted to continue our partnership with DrinkPrime which is increasing access to water purification devices and making quality drinking water on tap more affordable than bottled water and accessible to the Indian mass market.”   "Safe drinking water remains one of the biggest challenges in India with around 50 per cent of the population having no access to it and this is all set to increase with time. In such a scenario, the need of the hour is to evaluate if technology can solve a part of it. As a part of our ESG investment approach, we invested in DrinkPrime that is making safe drinking water accessible to millions. Such solutions make a huge impact on the environment as it lessens the need for plastic. We expect some unicorns to emerge from this space soon and DrinkPrime has huge potential," said Dr Apoorva Ranjan Sharma, co-founder, Venture Catalysts & 9Unicorns.   Aureolis Ventures, Kwaish Ventures and ZNL Growth Fund are a few other investors who participated in DrinkPrime’s Series A round in addition to participation from Northern Arc Capital and Unitus Capital in the debt capital raise.   “DrinkPrime has a unique business model which solves the fundamental problem of clean drinking water in urban cities in an environmentally responsible manner and has seen significant adoption of its tech led water as a service offering. We are delighted to partner with DrinkPrime, given their strong mission orientation and their ambition to scale up this business,” said Bama Balakrishnan, executive director & COO, Northern Arc Capital.   Covid-19 increased awareness on a wide range of issues related to health and wellbeing. With 37.7 million Indians affected by waterborne diseases in India yearly, the demand for DrinkPrime’s services will continue to grow as people return to their homes and offices in India’s urban areas.   This page allows you to send the current page to your friend. Your Friends Email ID: Your Email ID: Post Your Comment * Name :     *  Email :       Website :   Comments :           Captcha :  

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