Rite Water Solutions has successfully concluded its second and final part of the series – B funding round, securing an investment of INR 32.5 crore from an eminent group of investors.
The round saw participation from ace investor Mukul Agrawal, a prominent figure in the Indian stock market, and Gunavanth Vaid, a respected MSME investor and others including Abhiraj Jalota who also served as advisor to this round.
This significant milestone follows Rite Water’s recent fundraise of 7.5 million euros [first part of series – B funding round] from the Water Access Acceleration Fund (“W2AF”), the world’s first drinking water focused private equity fund registered in France. W2AF’s investors include Danone, BNP Paribas, U.S. International Development Finance Corporation (DFC), the Danish development finance institution IFU, Norfund, Aqua for All, the U.S. Agency for International Development and European Investment Bank, managed by the global impact asset manager Incofin Investment Management.
Rite Water Solutions, a leader in clean drinking water technologies, has broadened its expertise to encompass solar pumping projects, IoT-based innovative solutions and wastewater treatment. The combination of the Series B funding brings Rite Water’s total capital raised to INR 100 crore.
“We are thrilled to close this funding round with the support of such distinguished investors. Their belief in our mission reinforces our commitment to addressing the critical need for clean water across India,” said Vinod Gaan, Chairman of the Rite Water. “With these resources, we’re poised to expand our reach and impact, bringing climate-resilient sustainable water solutions to the communities in need.”
Rite Water’s Managing Director and CEO, Abhijeet Gaan, said that these funds will play a key role in helping the business scale up its operations significantly and lay the groundwork for its next orbit change. Delivering state-of-the-art and creative water solutions throughout India will be the main goal; this is a sector that is expected to see substantial investment and expansion.
Rite Water will be able to expedite its goal of offering easily accessible, secure, and environmentally friendly drinking water solutions thanks to the capital infusion. In order to provide a healthier environment and an enhanced quality of life for its residents, the corporation is preparing to confront the difficulties of water shortage and quality with an emphasis on rural regions of India. This will help it move closer to realizing its vision of “Transforming Bharat.”
About Rite Water Solutions
Rite Water Solutions is dedicated to providing innovative and sustainable clean water solutions. With a commitment to excellence and a vision for a healthier world, the company aims to bridge the gap in access to safe drinking water through its diverse portfolio of projects in drinking water treatment, wastewater management, solar pumping, and IoT applications.