NEW DELHI, Aug 18: Subscription-based drinking water solution startup DrinkPrime on Tuesday said it has raised Rs 21 crore (USD 3 million) in a pre-series A round from Omidyar Network India and Sequoia Surge.
The Bengaluru-based startup said it will use the funds to strengthen its team and invest in its growth plans.
DrinkPrime allows users to ‘subscribe-to-use’ the company’s advanced modular water purifiers, rather than bearing high upfront costs and ongoing servicing charges for water purifying systems in their homes.
“DrinkPrime has raised Rs 21 crore (USD 3 million) in a pre-series A round from Omidyar Network India and Sequoia Surge,” the company said in a statement.
The DrinkPrime service is currently operational in Bengaluru, and the company will use the funds to expand to the top 10 Indian cities and expand its product portfolio to better serve its customer segments.
Vijender Reddy Muthyala, CEO and Co-founder of Drink Prime, said, “We are currently operating in Bengaluru, and looking to expand to multiple geographies this year”.
The company aims to reach a million households in the next couple of years, he said.
DrinkPrime was founded by Muthyala and Manas Ranjan Hota in 2015. (PTI)
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