Water E-commerce Startup OwO Raises INR 1.5Cr In Angel Round
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Gurugram-based water e-commerce startup OwO of OwO Technologies Pvt. Ltd. raises INR 1.5 crore in its angel round of funding from angel platform ah! Ventures along with investors from Marwari Angels and others.
“We launched OwO in June 2020 during the middle of the global pandemic of COVID-19, and inspite of so many restrictions around us, we saw a huge demand for our services across Gurgaon. It took just two months to have our first 500 customers and since then, OwO never looked back. Today with more than over 5000 customers we serve who’s who of Industry. We have partnered with all leading brands like Bisleri, Aquafina, Kinley, Bailley, DivyaJal (packaged drinking water) and Himalayan (mineral water) as well as Coca-Cola, Pepsi, Tropicana, Parle, Red Bull, Catch, and many more. We plan to use the funds for expansion into new territories and investing in technology," said Ajay Channgani, chief executive officer, OwO Technologies.
One of the foremost problems our world face is the availability of safe drinking water and in the Indian context, this problem becomes much bigger. OwO aims to address this problem through its platform, through its offerings and delivery services.
"With our 3Cs (clean, clear, and care) approach, we promise to deliver happiness along with the goods and services we offer. Safety is of extreme importance to us and we ensure that we take all measures required. OwO has become one single window for the hospitality sector, corporates, and household customers as it offers almost everything in soft beverages. OwO has been adding new categories, brands, and products every month to offer a single window to all corporates/organizations for their beverage needs. Not only this, OwO offers these products at a much lower price than all its competitors. In addition, we plan to launch two unique products of our own and that will disrupt the market for drinking water at large,” added Chhangani, while speaking on OwO’s expansion plan.
The startup started with its services in June 2020 and has since then grown to serve over 5000 customers, serving them daily with safe drinking water.
“OwO is being programmed to be a large national player with operations in a few hundred cities across India and the 1st phase of expansion in Rajasthan and UP is about to begin. In our efforts to create a conducive environment for our countrymen, we have decided to bestow a share of our profits for freedom fighters & martyrs, unemployed youth, and the underprivileged sections of society. While the socio-economic up-lifting of India’s people is our prime motto, we also envision creating a disruption in the delivery service industry. We are going to bring a 360⁰ makeover to the supply-chain practices that are being currently followed in the industry,” Chhangani further stated.
“Water is a vital part of our daily life, access to safe drinking water is a basic human right, but its also true that millions still have to struggle to get access to the safe drinking water. A large part of corporates rely on bottled water for their needs, and the same is true for consumers across multiple cities and towns where safe drinking water is not available conveniently and there is a struggle involved to get access to it. OWO has built a remarkable business to solve this problem at scale, they want to become a trusted partner to millions and supply them safe drinking water at their convenience, and they are doing it by leveraging technology and forging strong partnerships in this ecosystem,” explained Mansingh Gadhvi, venture partner, ah! Ventures.
This is ah! Ventures’ 65th investment taking its total investment portfolio to INR 193 crore with 10 exits to date.