[Funding News] Livpure Secures $28 Mn Funding Round Led by M&G Investments and Ncubate Capital

Livpure, a manufacturer of air conditioners and water purifiers, has secured Rs 208 crore ($25 million) in funding from M&G Investments through its Catalyst investment strategy. Additionally, Ncubate Capital Partners has contributed approximately Rs 25 crore ($3 million).

Livpure stated that the proceeds will be allocated to the following objectives: the acceleration of category expansion, the development of new products, the expansion of offerings, the enhancement of market presence, and the adaptation to the changing requirements of consumers in the home category.

Livpure provides a variety of products, including air conditioners, kitchen appliances, mattresses, sleep accessories, and water purifiers that are subscription-based.

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Livpure is in competition with DrinkPrime, a venture capital-funded startup that has recently raised $3 million under the leadership of SIDBI Venture Capital. Omidyar Network India and Peak XV's Surge are among the other notable investors in DrinkPrime.

Livpure's operating revenue increased by 35% to Rs 294 crore during the fiscal year ending in March 2023, while its losses increased by only 10% to Rs 48.62 crore.

About Livpure

Founded in 2010 by Rakesh Malhotra and Navneet Kapoor, Livpure is one of the most trusted and customer-centric brands in India, with over 6 million happy consumers and more than a decade of research dedicated to the latest technologies.

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