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Ro Water Supplying Startup Drinkprime Raises Rs 60 Crore In Funding

Jul 20, 2022•almost 3 years ago

Amount Raised

₹600 Million

Bengaluru

Description

Subscription-based reverse osmosis (RO) water supplying startup DrinkPrime has raised Rs 60 crore ($7.5 million) in a mix of equity and debt in its latest funding round, led by Omidyar Network India, Sequoia Surge, 9Unicorns and debt from Northern Arc Capital and Unitus Capital.

Company Information

Company

DrinkPrime

Location

Bengaluru, Karnataka, India

About

Responding to ET’s queries, the company said that equity investment was around Rs 30-35 crore and the rest in debt capital. The startup uses technology to make drinking water affordable without the time-consuming process of installation or periodic maintenance. The startup said that its business model has been growing and in the past six months, it has served one lakh and more users across Bengaluru, Delhi, Faridabad, Ghaziabad, Gurgaon, Hyderabad and Noida. In August 2021, the firm had raised around Rs 21 crore in a Pre-Series A round led by Sequoia Capital India’s Surge with participation from Omidyar Network India The Bengaluru-based startup plans to invest in people, products and infrastructure in order to offer its services to around one million homes by 2026, DrinkPrime said in a statement.

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