MicroGO Raises Pre-Series A Funding Of INR 6 Crore
The funds will be utilized to strengthen MicroGO's sales and marketing activities
MicroGO announced on Thursday to have raised INR 6 crore in pre-Series A funding round from angel investors in Calcutta. The funds will be utilized to strengthen MicroGO's sales and marketing activities.
"This is a very important juncture for us to scale our business as we are focusing on increasing the outreach of our products and solutions. What we are building in this space is very significant, since hygiene and infection control practices are looked upon as an expenditure and thus, not given its due attention," said Dr Rachna Dave, founder and CEO, MicroGO.
Increasing global travel, climate change and the emergence of antibiotic resistance organisms pose a serious threat to the quest toward curtailing infectious diseases. MicroGo's vision has always been aligned with this market need and Covid-19 has further strengthened the need to accelerate hygiene management adoption across the world. These new challenges required newer approaches and necessitated the development of innovative technologies focussing on water, food, and health. Due to rapid urbanization, the rising number of establishments in commercial spaces, and increasing safety standards post the pandemic, the industrial & institutional cleaning chemicals market in India is expected to reach $ 526.53 million by the end of 2026, according to a statement given by the company.
"The pandemic has changed the way people and industry prioritize hygiene and infection control practices. MicroGO has developed disruptive smart solutions and has implemented digital hygiene practices. We have been following MicroGO`s work right from the COVID-19 onset wherein, they contributed immensely to the nation even when their team was very small," said the anonymous lead investor.Aiming to solve the water, sanitation, and hygiene (WaSH) challenges through R&D-based manufacturing, MicroGO began its journey of innovation in 2016, piloting its technologies with anchor customers in 2020, and product commercialization in 2022. MicroGO aims to provide its customers with 360-degree hygiene and infection control solutions by innovative technologies that deliver the correct science and provides profitability and environmental sustainability. MicroGO holds patented platforms that have been granted patents in as low as 90 days: one of the fastest patents granted in India. With a team of 35-plus skilled in microbiology, biotechnology, material science and engineering, MicroGO has been providing hygiene-based solutions to businesses of all sizes- from large business chains to smaller outlets. Since its establishment, the company has added clients from various verticals like food & beverage, healthcare, pharma, commercial and residence complexes and hospitality. This includes the Airport Authority of India, Indian Army, IHCL (TAJ and Vivanta), IRCTC, WayCool, BigBasket, Chettinaad hospitals and Apollo Hospitals.