DrinkPrime Secures $3 Million in Funding to Expand Clean Water Access

DrinkPrime, a pioneering company offering clean drinking water through a subscription-based model, has secured $3 million in fresh funding. The investment round was led by SIDBI Venture Capital Ltd. (SVCL), an investment firm focused on supporting promising startups. Existing investors also participated in the round, demonstrating continued confidence in DrinkPrime’s vision.

This funding follows a string of successful fundraising efforts for DrinkPrime. In July 2022, the company secured Rs 60 crore ($7.5 million) through a combined equity and debt round led by Omidyar Network India. Prior to that, they raised approximately Rs 21 crore in a pre-Series A round spearheaded by Peak XV’s Surge in August 2021.

Innovation at the Core: IoT-Enabled Water Purifiers for Personalized Needs

Founded in 2016 by Vijender Reddy and Manas Ranjan Hota, DrinkPrime is driven by a mission to make clean drinking water accessible to everyone. Their innovative approach utilizes Internet-of-Things (IoT) technology to provide customized water purifiers on a subscription basis. This ensures users receive clean, filtered water tailored to their specific needs.

Reaching New Heights: Delivering Clean Water to Over 2 Lakh Families

DrinkPrime’s commitment to clean water has already impacted the lives of over 2 lakh families across seven Indian cities. With ambitious expansion plans on the horizon, the company is actively preparing for its Series B funding round, aiming to secure further resources for growth.

Navigating the Subscription Market Landscape

DrinkPrime operates within the competitive market of subscription-based RO water purification. They face established players like Livpure, Acquaguard, and ZunPure. However, their focus on IoT-enabled customization positions them uniquely to cater to the evolving needs of consumers seeking personalized water solutions.