Swajal will use its proceeds from the RVCF-III-led funding round for innovation and research to make drinking water more accessible, sustainable, and plastic-free.
February 10th, 2021: Swajal, one of the leading WaterTech startups in India, has announced securing its Pre-series A funding of $1.6 million from Rajasthan Asset Management Company Pvt. Ltd. (RAMC) through RVCF III, India growth fund and group of investors led by Mr. Pramod Agarwal (ex CFO P&>, global hair care division). Following the same, the startup now aims to accelerate the adoption of AI-powered sustainable water solutions in India while minimizing plastic usage across segments.
Swajal brings forth a new generation of drinking water solutions for everyone including communities, hospitality players, corporates, and others. Its deployments range from rural areas such as India’s largest direct solar-powered water purification system in Faridpur, Haryana to premium hotels including JW Marriott with AI enabled dedicated glass water bottling facility for premium water. Therefore, it is minimizing the reliance on plastic bottles in India via its innovative offerings such as Water ATMs.
Its WaterTech platform “Clairvoyant” allows Swajal to manage all of its purification systems effectively and use AI-enabled analytics to maintain them without downtimes. Clairvoyant was developed by Swajal’s in-house DSIR accredited R&D facility in Gurugram.
“We manufacture our systems locally in India,” said Dr. Vibha Tripathi, an IIT alumnus and CEO of Swajal. “This allows us to tightly control our products and innovate with a quick turnaround time. For the past years, we have focused on the drinking water needs of the bottom of the pyramid. Now, we are on our way to usher in a new generation of potable water solutions and reduce the reliance on plastic water. The latest funding round will help us further this vision with greater ease.”
“We are pleased to invest in the water segment with Swajal, where we believe technology and innovation are going to be incredibly important in the coming years as our society and economy transforms” said Mr. Ravi Mathur, Vice President, RVCF.
Swajal will use its proceeds from the RVCF-III-led funding round for innovation and research to make drinking water more accessible, sustainable, and plastic-free.
Source: Business World
