The funds thus raised will be used for expanding foot in new areas and gearing up with technology.
Water E-Commerce Startup OwO Technologies Pvt. Ltd. raises INR 1.5 CR in its angel round of funding from ah! Ventures Angel Platform along with investors from Marwari Angels and others. This is ah! Ventures’ 65th investment taking its total investment portfolio to INR 193 Cr with 10 exits till date.
OwO aims to address the problem of availability of safe drinking water through its platform’s offerings and delivery services. OwO started with its services in Gurgaon in June 2020 and has since then grown to serve 5000+ customers, serving them daily with safe drinking water. And now OwO is India’s one of its kind and first platform dedicated to beverages, serving both corporates and household customers.
Ajay Channgani, CEO- OwO Technologies, said, “We launched OwO in June 2020 during the middle of global pandemic of Covid-19, and inspite of so many restriction around us, we saw huge demand for our services across Gurgaon. It took just 2 months to have our first 500 customers and since then, OwO never looked backed. Today with more than 5000+ customer we serve who’s who of Industry. We have partnered with all leading brands like Bisleri, Aquafina, Kinley, Coca-Cola, Pepsi, Tropicana, Parle, Red Bull, and many more. We plan to use the funds for expansion into new territories and investing in technology”.
“With our 3Cs (clean, clear and care) approach, we promise to delivery happiness along with the goods and services we offer. Safety is of extreme importance to us and we ensure that we take all measures required. OwO has been adding new categories, brands and products every month to offer a single window to all corporates / organizations for their beverages needs. In addition, we plan to launch 2 unique products of our own and that will disrupt the market for drinking water at large”, says Ajay Chhangani on OwO expansion plan.
Ajay Chhangani adds, “OwO is being programmed to be a large national player with operations in few hundred cities across India and the 1st phase of expansion in Rajasthan and UP is about to begin. In our efforts to create a conducive environment for our countrymen, we have decided to bestow a share of our profits for freedom fighters & martyrs, unemployed youth and the underprivileged sections of the society. While the socio-economic up-lifting of India’s people is our prime motto, we also envision to create a disruption in the delivery service industry. We are going to bring a 360⁰ makeover to the supply-chain practices that are being currently followed in the industry.”
“Water is a vital part of our daily life, access to safe drinking water is a basic human right, but it’s also true that millions still have to struggle to get access to the safe drinking water. Large part of corporates rely on bottled water for their needs, and same is true for consumers across multiple cities and towns where safe drinking water is not available conveniently and there is a struggle involved to get access to it. OWO wants to become a trusted partner to millions and supply them safe drinking water at their convenience, and they are doing it by leveraging technology and forging strong partnerships in this ecosystem.” – said Mansingh Gadhvi, Venture Partner, ah! Ventures
Source: Business World