Sustainable Water-Tech Startup, Uravu Labs has raised an undisclosed amount in seed funding round from Anicut Capital, Rocketship.vc and Speciale Invest.
The round also saw participation from other angel investors including Vesta (France), Venture Catalysts (India), Verso Holdings (Luxembourg), Spectrum Impact (India), Echo River Capital (US) and others.
The startup plans to use the funds to scale up its 100% renewable water technology. It also plans to expand its workforce in R&D, and engineering, marketing and business development roles over the next two years, with funds to aid its growth and commercialization.
The Bangalore-based Uravu Labs was founded in 2019 by Pardeep Garg, Swapnil Shrivastav, Venkatesh RY, and Govinda Balaji, Its unique technology harnesses inexhaustible atmospheric moisture and uses only renewable energy to produce high quality drinking water.
The startup claims that it has an industrial-scale and affordable solution that has the potential to transform various markets – primarily the beverage industry, real estate and hospitality sectors, and will be commercialized by 2023.
“The seed investment will enable Uravu to accelerate its ongoing work of minimising the stress on groundwater. It will further enable us to mitigate resource depletion by converting abundantly available air into water using only renewable energy. With field pilots already out, the company is aiming to rapidly test and scale the solution with key customers.” presenting the startup’s determination to help nature and the communities getting affected daily”, said Dr. Pardeep Garg, CEO and Co-founder, Uravu Labs.
The startup has signed beverage giants like AB InBev and Radico Khaitan as clients and is looking to many more beverage and commercial customers in the Indian, Southeast Asian, Middle East and Japanese markets. It also plans to work with strategic government and CSR partners to reach drought-stricken remote areas in India and Africa by next year.
“The Uravu Labs team has embarked on a unique and impactful journey to revolutionise renewable water technology. They bring a rich experience of delivering on clean technology and mobilising the commercialization of the same for industry. With their remarkable innovation and technology stakeholders can adapt, maintain, and thrive on an enriching agenda of renewable water infrastructure”, said, Ashvin Chadha, Managing Partner, Anicut Capital.
“The concept of 100% renewable water is groundbreaking and we were excited by the progress that the team has made. We believe that Uravu and renewable water will be an important part of our efforts to tackle climate change,” added Sailesh Ramakrishnan, Partner, Rocketship.vc.
“We believe that climate-tech will play a pivotal role course-correcting environmental degradation. We know that the need for this tech is NOW!, not sometime in the future. We are very pleased to continue to invest in Uravu Labs and partner through their pioneering journey to building sustainable water infrastructure for the world from India.” said Vishesh Rajaraman, Managing Partner, Speciale Invest.
About Uravu Labs
At Uravu, they are on a mission to imagine new ways to make human life sustainable and their communities responsive and resilient.
They believe that ‘water’ is an industry which is ripe for innovation and needs breakthrough technologies to create a sustainable and better future for everyone.
They have developed a patent pending and award-winning 100% renewable water technology which utilises inexhaustible atmospheric moisture and only renewable energy to produce high-quality drinking water. Scalable to hundreds of thousands of litres per day, their solution can serve industries and communities for their high quality water needs in a decentralised and carbon neutral manner.
Their solution can deliver strategic outcomes to water focused initiatives and create measurable environmental and social impact.