In its Series A funding round, watertech startup Boon raised $5 million through a combination of debt and equity financing. With involvement from additional investors, Roca Group Ventures, a Spanish firm, led the round.For the Roca Group, this is their first institutional investment in India. In 2008, Roca also purchased Parryware in India.
Company has raised $1.6 million at its previous investment round. According to a news release from Boon, the new funds will be used to scale its AI-enabled Waterlo platform.
Boon, formerly known as Swajal, was co-founded in 2015 by Advait Kumar and Vibha Tripathy. It uses its proprietary technologies, such as predictive filter maintenance utilising AI, to guarantee high efficiency and dependability of water purification systems.
The platform claims to be more affordable than purchasing plastic water by filtering out plastic packaged water with sustainable solutions utilising real-time technology that monitors the quality of the water and the condition of the filters.
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The Gurugram-based business claims that their WaterIo device enables purifiers to monitor and alter the quality of each and every drop of water via an app. Boon provides sustainable hydration to large workplaces, hospitals, universities, airports, and rail stations.
Additionally, it offers sustainable glass water solutions for hotels and introduced WaterATM, a community water purification facility in India.
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Institutions like as the Department of Science and Technology (Gov. of India), the State Government of Rajasthan, SIDBI, and foreign organisations like UNDP and REEEP support Boon.
Uravu Labs, Aquasense, Oceo Water, DrinkPrime, and others are prominent participants in this field.
About BOON
Boon wants to modify the water order, a key human necessity. Today, drinking water is the most vital health need. Water has lost importance to fitness, health, and other fads.
