Watertech startup Swajal might be utilizing the fund to reinforce its analysis and growth (R&D) capabilities
Swajal claims to develop solar-energy powered distant sensing water purification programs, with straightforward to make use of person interface and cost mechanisms
AI in cleantech is estimated to generate $5.2 Tn by 2030
Delhi NCR-based watertech startup Swajal raised $1.6 Mn in funding from social impression fund Rajasthan Enterprise Capital Fund (RVCF), alongside Pramod Agarwal (former CFO at Procter & Gamble), ACPL and different angel traders.
The corporate stated that will probably be utilizing the fund to reinforce its analysis and growth (R&D) capabilities, thereby making ingesting water extra accessible, sustainable and plastic-free.
Based by Advait Kumar and Vibha Tripathi in 2015, Swajal is a man-made intelligence (AI) and Web of Issues (IoT)-enabled water purification resolution that appears to allow entry to scrub ingesting water throughout the socio-economic spectrum. It claims to have developed solar-energy powered distant sensing water purification programs (also called water ATMs) with straightforward to make use of person interfaces and cost mechanisms for airports, motels, workplaces, colleges and railway stations amongst others, the place it primarily replaces the plastic, encouraging individuals to deliver their very own utensils/bottles to fill water.
Along with this, Swajal additionally helps company clients transfer away from plastic bottles to glass bottles utilizing its inhouse water bottle washing, filling and monitoring plant (WaterCube). The corporate stated that it earns income from shoppers shopping for its programs or a per litre value for the as per utilization mannequin
The corporate advised Inc42 that it caters to 100+ organisations and over 500Ok direct customers. It additionally stated that it has put in 800+ water ATMs throughout India.
The corporate additionally claimed to remotely monitor its water purification programs utilizing IoT-based distant sensors that accumulate information and ship it to the cloud. Its information analytics platform allows the purchasers to seamlessly handle water purification programs in real-time, even in areas which have poor-connectivity.
Apart from Swajal, different AI-based watertech startups in India embody WaterScience, Maithri Aquatech, Hydrop, Drink Prime, Agua, WeGoT, Vassar Labs amongst others, and at a world degree, it competes with corporations like Bevi and Flowater. Nevertheless, Swajal believes that it has a technological edge in comparison with different gamers within the house, and counts its in-house IoT platform which screens every drop of water in addition to filter well being and motor well being (Clairvoyant) as its USP.
When it comes to unit economics of the enterprise, Tripathi stated that it’s EBITDA is constructive. “We’re rising 2X YoY. There’s a massive demand for sustainable and wholesome water from all sectors,” she added, stating that it’s a $350 Bn alternative.
In accordance with a PwC report titled ‘Synthetic Intelligence and the Destiny of Planet Earth,’ revealed that water amongst different cleantech sectors, AI is estimated to generate $5.2 Tn by 2030. Additionally, the UN experiences present that lower than 50% of India’s 1.2 Bn inhabitants doesn’t have entry to secure ingesting water.