Smart water treatment systems provider, INDRA, the startup co-founded by Amrit Om Nayak and Krunal Patel in 2017, has successfully raised USD 4 million in a Series A funding round. The funding was led by Mela Ventures and cleantech pioneer Emerald Technology Ventures, headquartered in Switzerland. Peak Sustainability Ventures and The Climate Angels also participated in the round.
The Startups Innovative Water Treatment Solutions
INDRA addresses the complex challenges of water treatment in the industrial and sewage sectors through its innovative patented electro-chemical oxidation and coagulation process. The technology utilizes ionic reactions to effectively remove a broad spectrum of pollutants from wastewater, including unwanted substances, heavy metals, suspended solids, phosphorus, fats, oil, grease, pathogens, and dissolved organics.
The company's proprietary water treatment solution stands out as a plug-and-play system, requiring 90% less space compared to existing solutions while recovering up to 99% of the treated water. INDRA has already treated over a billion litres of water, potentially providing up to 75% net carbon savings with their water treatment assets. Moreover, it claims to save up to 90% space, generate 70% less sludge, require 90% less human intervention, and save 35% in life cycle costs.
Which Are The Focussed Sectors for The Startup?
With a primary focus on industrial effluents from sectors such as textiles, steel manufacturing, pharmaceuticals, chemicals, as well as sewage from hotels and commercial properties, INDRA's impact extends across industries where effective water treatment is of paramount importance.
Why Funding Was Startegically Important for the Startup?
The funding comes at a crucial time as the estimated size of the Indian water treatment market currently stands at USD 12 billion, with projections indicating growth to USD 20 billion by 2030. This growth aligns with INDRA's vision of driving the transition towards sustainable water management.
Amrit Om Nayak, co-founder and CEO of INDRA, expressed his excitement about the partnership with Mela Ventures, stating, "Solving the wastewater treatment challenge needs continuous innovation and relentless commitment. This partnership gives us a lot of conviction to confidently pursue and deliver on our promise to drive the world’s transition towards sustainable water management."
N. Krishnakumar, managing partner at Mela Ventures, emphasized the alignment of the investment with sustainability, one of their key focus themes. He acknowledged the pressing global issue of wastewater treatment and commended the passion of the INDRA team, expressing his best wishes for their mission to make the world self-sufficient in water usage.
INDRA's successful Series A funding will help the startup move a step forward in addressing the global challenge of wastewater management, supported by strategic partnerships with leading investors in the cleantech space.
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