Gurugram-based watertech startup Boon raises $5 million in a Series A round

Gurugram-based watertech startup Boon has raised $5 million in a Series A funding round. The round, a mix of equity and debt, was led by Spanish-based Roca Group Ventures, with participation from other investors.

Boon, previously known as Swajal, had earlier raised $1.6 million in a funding round back in February 2021.

"We are excited on this first investment in an Indian startup with Boon. Their advanced approach to water purification with a clear inclination towards sustainability and technological innovation is commendable. We believe in Boon's potential to revolutionize the WaterTech industry and we are eager to support their growth and expansion," said Roca Group Ventures.

Scaling WaterIoT platform

Boon plans to use the raised capital to scale its AI-enabled WaterIoT platform, which aids purifiers in monitoring the quality of water with app-based quality adjustments, ensuring high efficiency and reliability in water purification systems. 

The startup aims to replace plastic packaged water with more sustainable solutions. It leverages its patented technologies, including predictive filter maintenance using AI, to achieve this goal.

"Water has taken a back seat and lately it has been feeling like we are passive spectators when it comes to water quality, plastic bottles, or microplastics in drinking water. We are very excited to have partnered with Roca in our efforts to challenge the status quo of drinking water," said Co-founder Advait Kumar.

Boon's mission and technology

Founded in 2015 by Vibha Tripathy and Advait Kumar, Boon focuses on remote water purifying, monitoring, and dispensing products.

The startup's WaterIoT product helps purifiers monitor the quality of every single drop of water in real-time. Boon claims that this technology makes purified water cheaper than buying plastic water bottles.

Boon also launched the WaterATM, a community water purification station in India, and provides sustainable glass water solutions for hotels. The startup works with major offices, hospitals, universities, airports, and train stations to provide sustainable hydration solutions.

Backing from notable institutions

Boon has garnered support from various institutions and international agencies, including the Department of Science and Technology (Government of India), the Rajasthan State Government, and the Small Industries Development Bank of India (SIDBI).

Additionally, international agencies like the United Nations Development Programme (UNDP) and the Renewable Energy and Energy Efficiency Partnership (REEEP) back Boon.