DigitalPaani, a Gurugram-based water management startup, has raised $1.2 million in a seed funding round, providing a significant financial boost for the startup that specializes in redesigning water management systems.
Who are the investors?
The seed round was led by Elemental Excelerator, making it their first investment in Asia. Other notable participants included Enzia Ventures, Peer Cheque, SAE, DevC, and Bharat Founders Fund. Additionally, angel investors like Ashish Goel (Urban Ladder), Alok Mittal (Indifi), Mohit Sadani (Moms Co), and Mohit Tandon (Delhivery) also participated in the round.
Revolutionizing wastewater management
Founded by the father-daughter duo Mansi Jain and Rajesh Jain, DigitalPaani is revolutionizing wastewater management. The startup has developed an IoT-enabled platform that enhances the functionality of wastewater treatment infrastructure.
It optimizes plant operations, increasing treatment capacity, reducing downtime, and enabling water reuse. The startup claims to have shown impressive results, including up to 30% increases in treatment capacity and a 66% reduction in costs at commercial sites.
It claims that over industry giants, including Tata Power, Delhi Jal Board, Britannia, and Leela Hotels, are using the company’s technology.
What is the purpose of fundraising?
DigitalPaani aims to expand its reach over the next twelve months, focusing on key urban centers such as the National Capital Region of Delhi, Mumbai, Bangalore, Chennai, Pune, and Hyderabad.
The startup plans to assist over 150 wastewater treatment facilities, contributing significantly to India's water sustainability goals. With this fresh round of funding, it will focus on scaling its technology across more plants in India and exploring potential future markets.
The growth potential of the water management industry
The Smart Water Management Market is projected to grow from $16.08 billion in 2023 to $30.80 billion by 2028, at a CAGR of 13.89%. According to reports, The growth is fueled by the increasing global demand for water, the need to address ageing water infrastructure, and the rising popularity of smart, data-driven solutions for water management.
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