Water purifying brand Livpure raises $28 million in funding

Water purifying brand Livpure has raised Rs 233 crore (approximately $28 million) in the latest funding round led by London-based investment firm M&G Investments through its Catalyst investment strategy.

While M&G invested Rs 208 crore, the remaining Rs 25 crore was infused by Ncubate Capital Partners, the investment arm of Livpure's parent company, SAR Group.

Purpose of fundraising

The company plans to use the raised capital for product development and category expansion efforts as the company seeks to diversify its offerings and strengthen its market presence.

“With this investment, we will further enhance our focus on developing cutting-edge products that address the growing needs of Indian consumers," said Rakesh Kaul, the Managing Director of Livpure.

Who are the founders?

Founded in 2012 by Rakesh Malhotra and Navneet Kapoor, Livpure offers a wide range of products, including water purifiers, subscription-based purifiers, air coolers, kitchen appliances, mattresses, and sleep accessories.

The company is particularly focused on expanding its water-as-a-service model and introducing eco-friendly, sustainable solutions in home and kitchen appliances. 

“We are particularly keen on further enhancing our water-as-a-service offering, along with eco-friendly sustainable solutions in home and kitchen offerings," Kaul said.

Livpure's financial performance

For the fiscal year ending March 2023, Livpure recorded a 35% increase in operating revenue, reaching Rs 294 crore, compared to Rs 217 crore in the previous fiscal year.

Despite this revenue growth, the company’s losses increased by only 10%, totaling Rs 48.62 crore.

The water purifiers segment remains the primary revenue driver, accounting for over 80% of the company’s total income. 

Praveg Patil, Head of Asia Pacific – M&G Impact & Private Equity, said, “As Livpure strives to reduce the cost of access to clean water, arguably humanity’s most fundamental and vital resource, we are well aligned. This partnership underscores our commitment to sustainable technologies, and we look forward to supporting Livpure’s vision to drive the brand to scale and achieve new milestones.”

InCred Capital acted as the exclusive advisor to Livpure on the fundraise.