Boon, a WaterTech pioneer focused on remote water purifying, monitoring, and dispensing innovations, has raised 5 million USD in Series A fu...
Boon, a WaterTech pioneer focused on remote water purifying, monitoring, and dispensing innovations, has raised 5 million USD in Series A funding, in a mix of equity and debt. The round was led by Spanish Roca Group Ventures, Roca Group’s venturing fund, with participation from others. This movement marks Roca’s first-ever investment in a startup in India. Roca also acquired Parryware in India in 2008.
Boon aims to drive
the fundraising to scale its AI-enabled WaterIoT™️ platform. WaterIoT™️ helps
purifiers monitor the quality of every single drop of water with app-based
quality adjustments. Boon uses its patented technologies as predictive filter
maintenance using AI to ensure water purification systems' high efficiency and reliability. Co-founded by IIT Kanpur alumnus Dr. Vibha Tripathi and
PennState alumnus Advait Kumar in 2015, Boon (formerly known as Swajal) is a
technology startup challenging the inertia around drinking water by providing
the purest and most nutritional water for a healthy body.
Speaking about the
fundraiser, Advait Kumar, Founder, Boon, commented, "Water has taken a back
seat and lately it has been feeling like we are passive spectators when it
comes to water quality, plastic bottles or microplastics in drinking water. We
are very excited to have partnered with Roca in our efforts to challenge the
status quo of drinking water. Water is the most fundamental of human needs and
rights, and capital deployment to enable innovation in hydration is going to be
key for our future.”
Roca Group Ventures commented, "We are excited about this first investment in an Indian startup with Boon. Their advanced approach to water purification with a clear inclination towards sustainability and technological innovation is commendable. We believe in Boon's potential to revolutionize the WaterTech industry and are eager to support their growth and expansion."
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