Rajasthan Asset Management, others invest pre-Series A money in Swajal

Rajasthan Asset Management, others invest pre-Series A money in Swajal
Photo Credit: VCCircle
10 Feb, 2021

Water-tech startup Swajal Water Pvt. Ltd on Wednesday said it has raised $1.6 million (Rs 11.6 crore) in its pre-Series A funding round.

The funding was raised from Rajasthan Asset Management Company Pvt. Ltd and a group of investors led by Pramod Agarwal, former executive of consumer goods company P&G, said Swajal in a statement.

Swajal will use the funds for innovation and research as it seeks to make drinking water more accessible, sustainable, and plastic-free.

Swajal, which was conceptualised and launched in 2014 by a team of IIT Kanpur professors and scientists, provides artificial intelligence (AI)-enabled water purification system that eliminates the use of plastic. 

The startup's platform  -- Clairvoyant -- manages purification systems. The company says its system is deployed in rural areas as well as in premium hotels.

Vibha Tripathi, co-founder and CEO of Swajal, said that its systems are manufactured locally.

Rajasthan Asset Management focuses on early-stage investments and regional economic development. 

It is currently investing out of its third fund. IT/ITES, healthcare, food processing, logistics and education are the focus areas for the fund, according to its website.

The investment firm's other bets include grocery store aggregator Kirana King, data insights and input-sales agricultural-technology firm Freshokartz and animal nutrition company Krimanshi Feeds.

Drink Prime, a water purifier startup, last year raised funding from Sequoia Capital’s accelerator programme Surge and Omidyar, among others.

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