Exploring the Growth of DrinkPrime: How RO Water Supply Companies are Securing Investments

DrinkPrime, a Bengaluru-centered startup renowned for its reverse osmosis (RO) water provision solutions, has secured a $3 million investment from SIDBI Venture Capital Ltd. (SVCL). This funding round also witnessed continued support from its current investors.

Campus Fund, Unitus Capital, Northern Arc, Venture Catalysts++, Kwaish Ventures, Surge, and Omidyar Network India stand out among its distinguished supporters, solidifying their commitment to DrinkPrime’s vision and growth journey.

Why Raise Funds?

The objective behind the fundraising initiative is to fortify the startup’s market foothold.

According to Manas Ranjan Hota, DrinkPrime’s co-founder and COO, the raised capital will be channeled towards accelerating expansion endeavors, refining innovative product portfolios, and advancing their cutting-edge Internet of Things (IoT) capabilities.

What is DrinkPrime’s Specialty?

DrinkPrime, established in 2016 by Vijender Reddy and Manas Ranjan Hota, provides IoT-enabled customizable water purifiers through a subscription-based model.

This innovative approach empowers customers to enjoy clean and safe drinking water without the hassle of upfront costs and ongoing maintenance commonly associated with traditional home water filtration systems.

Currently, the startup boasts serving over 200,000 families spanning seven major Indian cities.

“Our exponential 3X growth from 2021 to 2023 sets the stage for strategic business expansion,” remarked Vijender Reddy Muthyala, Co-founder and CEO of DrinkPrime.

Who Are DrinkPrime’s Rivals?

In the competitive realm of water purification, DrinkPrime stands alongside a cohort of companies providing subscription-based products. Notable competitors in this space include Livpure, Aquaguard, ZunPure, Swajal, and OwO.

These subscription services offer the advantages of convenience and heightened water safety for consumers.

However, DrinkPrime distinguishes itself through its integration of IoT technology, a unique feature touted for enhancing user experience and functionality.

Debraj Banerjee, senior fund manager at SIDBI Venture Capital Ltd., expressed optimism about DrinkPrime’s potential for expansion and its mission to provide clean, safe, and healthy drinking water to all.