| Log in

Aavishkaar Pumps Money Into Waterlife

15 October, 2009

Aavishkaar,  a micro equity fund, has invested in Hyderabad-based Waterlife India Pvt Ltd, a water purification company, for a significant minority stake. The amount of money pumped into the firm was not disclosed.

Waterlife has been founded by Sudesh Menon, Mohan Ranbaore and Indranil Das with the objective of providing potable water to rural communities. Waterlife installs and operates mini water purification plants (120,000–30,000 litres per day capacity) in rural areas that treat water for bacterial as well as chemical contamination, a press release said.

The company will deploy the funds to expand its reach. 
 
The water purification sector has witnessed a few deals in the past. California-based WaterHealth International Inc, which has previously raised funds from India’s ICICI Bank and Dr Anji Reddy (chairman of Dr Reddy’s Labs), raised over $10 million for the first close of its series D round from return backers Dow Venture Capital and SAIL Venture Partners. Also, HaloSource, which launched its business in India in 2006 in partnership with Mumbai-based Eureka Forbes, raised $11.5 million from Origo Sino-India Plc (OSIL) and Unilever Technology Ventures in July last year.
 
Aavishkaar manages two social venture funds, Aavishkaar India Micro Venture Capital Fund and Aavishkaar Goodwell India Microfinance Development Company.  The micro venture capital fund has till now invested in Zameen Organic, an organic cotton trading company, Swas Healthcare, a chain of naturopathy clinics and hospitals and Saraplast, a sanitation solutions provider among others.

 


View Comments
Matrix Invests Rs 22Cr In Waterlife India

Matrix Invests Rs 22Cr In Waterlife India

TEAM VCC 6 years ago
Matrix Partners India has acquired an undisclosed stake for Rs 22 crore in...
Vinod Khosla-backed Praj Picks 50.2% In Neela Systems For Rs 64Cr

Vinod Khosla-backed Praj Picks 50.2% In Neela Systems For Rs 64Cr

TEAM VCC 6 years ago
Engineering firm Praj Industries that makes ethanol equipments, has acquired a...
Aavishkaar II Makes First Close At $62M; Targets $120M By June 2012

Aavishkaar II Makes First Close At $62M; Targets $120M By June 2012

Madhav A Chanchani 6 years ago
Aavishkaar Venture Management, a venture capital firm focused on India’s rural...
1 Comment
R.D.Gupta . 6 years ago

Could it be possible to see a demo in or around Bangalore.

Aavishkaar Pumps Money Into Waterlife

Powered by WordPress.com VIP