New Delhi- India, 28th July 2015
Swajal, a Gurgaon based engineering and tech social venture, announced closing of series A $1.2 Million round of funding on 24th July, 2015 through private investors lead by Abhishek Gupta. Swajal’s existing investor includes Saurya EnerTech, a solar engineering and consultancy company and it is supported by REEEP, UNDP, FICCI, DST, Goldman Sachs, NISE and ISB. The funds will be used to engineer next iteration of innovative, highly energy efficient and low cost, community based water purification systems. The company is looking to scale up its sales and service presence across India and to other emerging markets by next year. The transaction was facilitated by Emergent Ventures India Pvt. Ltd.-a leading global advisor for sustainability & renewable technologies.
"We are looking to position ourselves as the Google equivalent of water purification" says Dr. Vibha Tripathi, CEO of Swajal, IIT Kanpur alumna and noted scientist. "With a focus on robust engineering, ease of use, reliability and water quality assurance rather than pushing a 60 year old technology into the market."
Swajal is removing barriers of accessibility for clean drinking water in India. Its low cost, low energy and technology approach to water purification system is transcending boundaries of geographical and economical limitations. Each purification system can be powered completely by solar and hence is independent of the often unreliable grid. The system is also equipped with online monitoring system that allows the company to monitor quality of water and other parameters. Swajal is winning orders from many corporates from their CSR contributions. Swajal also plans to set up Franchised Water ATMs.
Swajal is operating in business space which is fast growing, with market potential of 15,000 Cr/a+. According to Ministry of drinking water and sanitation as many as 78,000 communities are severely affected by issues relating to drinking water. Swajal Products solve problems of Water Access (ground, surface water, municipal sources), Water Purity (dissolved solids, metals, fluorides, toxic chemicals, biological impurities etc.), Electricity Access (solar, grid electricity or a combination) along with a Dispensing Models (use of diverse sizes of water utensils, elimination of plastic bottle use, card or coin based payments) and can take care of variety of ground conditions which affect access to purified water. Swajal promises to assure high quality of drinking water 24x7.
About SWAJAL: Swajal is a leading community based water purification company in India. Its product line includes solar based water pumps and solar based water purification systems.
About SAURYA ENERTECH: Saurya EnerTech is a pioneering solar engineering and services company in India. Saurya team has experience of over 300MW of solar EPC in the country.
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