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DrinkPrime Raises Rs 60 Crore

On Wednesday, DrinkPrime said it had raised Rs 60 crore in funding from Omidyar Network India, Sequoia Surge and 9Unicorns.


According to a statement, the company, which offers IoT-enabled water purifiers on a subscription basis, will use the funding to expand its reach to serve 1 million homes by 2026.


The company will also invest in people and products, the statement said. According to its co-founder and CEO, Vijender Reddy Muthyala, the goal is to make safe drinking water accessible to most of India.


According to its co-founder and CEO, Vijender Reddy Muthyala, the goal is to make safe drinking water accessible to most of India. The Bengaluru-based company has registered more than 1 lakh users in the past six months of operation.


“Our user base has grown by 330% this year. With growing interest in the services we offer in multiple regions, we expect to maintain the momentum of the past few months,” Co-founder and co-founder Manas Ranjan Hota said.


Badri Pillapakkam, a partner at Omidyar, hinted that they had also made an earlier investment, saying it was a continuation of the partnership. Partners at the impact investment firm said the company is increasing the use of water purification equipment and making premium tap water more affordable than bottled water and accessible to the Indian mass market.

Apoorva Ranjan Sharma, the co-founder of 9Unicorns, said half of the country’s population has no access to safe drinking water.


Sharma added that there would soon be unicorns or companies worth more than $1 billion in the space. Aureolis Ventures, Kwaish Ventures and ZNL Growth Fund were other investors participating in the round, the statement said, adding that it also borrowed from Northern Arc Capital and Unitus Capital for debt financing.

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