Megaliter Varunaa raises Rs 15 crore in seed funding to drive urban water circularity

Hyderabad-based Megaliter Varunaa, a subsidiary of NSE-listed Banka BioLoo Limited and mentored by Brigade REAP, has raised Rs 15 crore in a seed funding round from long-term Institutional Investors. 

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The funding will propel project development and accelerate both business growth and technology innovation in urban water management, the release notes.

Megaliter Varunaa transforms sewage treatment plants (STPs) into productive, circular water utilities through its flagship ‘Megaliter Model’, a zero-CapEx, subscription-based solution that maximises wastewater reuse. By entering long-term, end-to-end service contracts, it delivers an integrated offering covering financial, operational, and compliance needs. 

The company said that this robust model ensures reliable, sustainable water recycling for critical non-potable uses such as flushing, gardening, and chiller systems, thereby reducing urban dependence on dwindling freshwater reserves and unlocking new value from wastewater. 

Vishal Murarka, Managing Director, Megaliter Varunaa, said, “This seed capital marks a pivotal milestone in our journey to meet India's pressing need for sustainable water solutions. Our ongoing mission is to convert underutilised assets into efficient, compliant, and resilient urban water utilities. To date, we have treated over 3 billion liters of wastewater, and our current capacity exceeds 2.5 billion liters annually. In the next 12 months, we aim to build projects to recycle more than 10 billion liters annually, directly enhancing water resilience for cities and reducing freshwater dependency.” 

Abhay Garg, Chief Mentor at Brigade REAP, stated, “Megaliter Varunaa exemplifies the kind of sustainable  impact-driven innovation India urgently needs. Their model doesn’t just fix broken infrastructure, but rather reimagines it through a lens of circularity, reliability, and climate resilience.” 

“At Brigade REAP, our support goes beyond mentorship; we refine their go-to-market approach and align their innovation with real-world urban challenges. Our engagement with Megaliter has focused on helping them navigate complex stakeholder ecosystems, unlock scalable partnerships, and position wastewater as a viable utility service.”

With this fresh capital, Megaliter Varunaa plans expansion into major metros, including Mumbai and Bengaluru.