DrinkPrime, a subscription-based reverse osmosis (RO) water supplier, has secured $3 million from SIDBI Venture Capital Ltd. (SVCL).
Currently, over 2 lakh families in seven Indian cities have access to clean drinking water because of DrinkPrime. In addition to planning for more development, DrinkPrime is getting ready for its Series B fundraising.
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According to DrinkPrime, customers can choose to subscribe to the company’s water purification services in place of paying for initial and recurring maintenance fees for their residential water purification systems.
In July 2022, the Bengaluru-based business raised a total of Rs 60 crore ($7.5 million) with a combination of loan and equity funding, with Omidyar Network India leading the round. Before that, in August 2021, it raised over Rs 21 crore at its pre-series A financing, which was headed by Peak XV’s Surge.
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About DrinkPrime
DrinkPrime was founded in 2016 by Vijender Reddy and Manas Ranjan Hota to provide cleaner drinking water through subscriptions to IoT-enabled water purifiers.
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