RO water supplying startup DrinkPrime raises Rs 60 crore in funding


Subscription-based reverse osmosis (RO) water supplying startup DrinkPrime has raised Rs 60 crore ($7.5 million) in a mix of equity and debt in its latest funding round, led by Omidyar Network India, Sequoia Surge, 9Unicorns and debt from Northern Arc Capital and Unitus Capital.

Responding to ET’s queries, the company said that equity investment was around Rs 30-35 crore and the rest in debt capital. Aureolis Ventures, Kwaish Ventures and ZNL Growth Fund also participated in the funding round.

The Bengaluru-based startup plans to invest in people, products and infrastructure in order to offer its services to around one million homes by 2026, DrinkPrime said in a statement.

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. The startup uses technology to make drinking water affordable without the time-consuming process of installation or periodic maintenance.

“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 Hota in the statement.

The startup said that its business model has been growing and in the past six months, it has served one lakh and more users across Bengaluru, Delhi, Faridabad, Ghaziabad, Gurgaon, Hyderabad and Noida.

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With over 37.7 million 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, Hota added.

In August 2021, the firm had raised around Rs 21 crore in a Pre-Series A round led by Sequoia Capital India’s Surge with participation from Omidyar Network India.

“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, including the next half billion,” said Badri Pillapakkam, Partner, Omidyar Network India.

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