Climatetech Uravu Labs Raises Seed Capital To Build Renewable Water Infra
The funds will be utilized for tech commercialization and expansion into new geographies
Uravu Labs, a Bangalore-based startup focused on building renewable water infrastructure, has closed its seed round of funding. The lead investor in the round was Anicut Capital and it was co-led by Rocketship.vc and Speciale Invest. The company also received participation from investors like Vesta (France), Venture Catalysts (India), Verso Holdings (Luxembourg), Spectrum Impact (India), Echo River Capital (US) and other angel investors from India, the US and the Middle East.
The company plans to utilise the capital to scale its 100 per cent renewable water technology, said a statement. It claims that its unique technology harnesses inexhaustible atmospheric moisture and uses only renewable energy to produce high-quality drinking water. The industrial-scale and affordable solution has the ability to transform various markets, primarily the beverage industry, real estate and hospitality sectors, and will be commercialised by 2023, added the statement.
"The seed investment will enable Uravu to accelerate its ongoing work of minimising the stress on groundwater. It will further enable us to mitigate resource depletion by converting abundantly available air into water using only renewable energy. With field pilots already out, the company is aiming to rapidly test and scale the solution with key customers," said Dr. Pradeep Garg, CEO and co-founder, Uravu Labs.
"The Uravu Labs team has embarked on a unique and impactful journey to revolutionise renewable water technology. They bring a rich experience of delivering on clean technology and mobilising the commercialization of the same for industry. With their remarkable innovation and technology stakeholders can adapt, maintain, and thrive on an enriching agenda of renewable water infrastructure. Our support to Uravu Labs comes in the wake of our renewed focus to build on the sustainability momentum for the wider industry and to continuously strengthen and encourage startups aiming to change the status quo," said Ashvin Chadha, Managing Partner, Anicut Capital.
Founded in 2019 by Pardeep Garg, Swapnil Shrivastav, Venkatesh R, and Govinda Balaji, Uravu Labs claims to be dedicated towards bringing the next water revolution.