Wednesday, February 28, 2024
HomeStart UpCleantech startup Indra raises $4 million in funding 

Cleantech startup Indra raises $4 million in funding 

Indra, a provider of smart water treatment systems, secured $4 million in its Series A funding. The funding round was led by Emerald Technology Ventures and Mela Ventures, with additional participation from Peak Sustainability Ventures and The Climate Angels. 

Established in 2017 by co-founders Amrit Om Nayak and Krunal Patel, Indra addresses water treatment challenges in industrial and sewage sectors through its patented electro-chemical oxidation and coagulation process.

Indra’s technology utilizes ionic reactions to eliminate pollutants such as unwanted substances, heavy metals, suspended solids, phosphorus, fats, oil, grease, pathogens, and dissolved organics from wastewater. Their proprietary water treatment solution is a plug-and-play system that requires 90% less space than current solutions and can recover up to 99% of the treated water.

With a primary focus on industrial effluents from sectors like textiles, steel manufacturing, pharmaceuticals, chemicals, and sewage from hotels and commercial properties, INDRA’s impact spans critical areas where effective water treatment is essential. Having treated over a billion liters of water, INDRA’s water treatment assets have the potential to deliver up to 75% net carbon savings. The company asserts that its solutions can save up to 90% of space, produce 70% less sludge, require 90% less human intervention, and result in a 35% reduction in life cycle costs.

Estimates suggest that the current size of the Indian water treatment market is $12 billion, and it is anticipated to reach $20 billion by 2030.

Amrit Om Nayak, co-founder and CEO of INDRA, said, “Solving the wastewater treatment challenge needs continuous innovation and relentless commitment. I am very excited that Mela Ventures shares the same passion for sustainable solutions. This partnership gives us a lot of conviction to confidently pursue and deliver on our promise to drive the world’s transition towards sustainable water management.”   

N. Krishnakumar, managing partner at MelaVentures, said, “Our investment in INDRA aligns well with sustainability, which is one of our key investment focus themes. Wastewater treatment is a pressing problem demanding urgent global attention. The team led by Amrit and Krunal is very passionate about wastewater management. I wish the team the best in making the world self-sufficient when it comes to water usage.”

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