Aqua Designs India Private Limited, one of the largest regional water and waste water treatment companies in South India, has raised Rs 55 crore from Peepul Capital Fund II LLC . Chennai-based Aqua Designs, an eight year old company, provides solutions for all water and waste water treatment on a turnkey basis. The company was founded by Mr. S. Suthakar, who has more than a decade of experience in this field.
In 2008, Peepul Capital invested an undisclosed amount in Pune-based Kam-Avida Enviro Engineers Pvt Ltd, a manufacturer of waste management equipment.
Aqua Designs intends to use the funds to strengthen its balance sheet to take up large projects, apart from acquisitions that will add new technological capabilities and customers. The firm also plans to expand its team.
Aqua Designs is recycling water for reuse in 62 units, which include Ford, Hyundai, Coca-Cola, Pepsico, Sterlite Industries, Regency, TATA Motors, Nokia, BYD Electronics, Cipla etc. It also provides support to customers on chemicals and consumables for running these plants, apart
from undertaking operations and maintenance activities for such plants. Aqua Designs has a full fledged NABL certified laboratory for water and waste water testing and ambient air monitoring testing services.
S Suthakar, MD, Aqua Designs, said, economic development, climate change and population growth has increased pressure on freshwater resources in India. “Increased participation by the government through JNNURM allocation, strict regulation on environmental compliance and
funding by agencies such as the ADB & World Bank will make water and wastewater treatment the next growth story after power,” he said in a release.
Peepul Capital, earlier known as iLabs, manages $325 million across two India-focused funds. The PE firm recently partnered with Europe’s largest loyalty programme player Payback Gmbh to buy a majority stake in India’s largest loyalty card provider i-mint. As per reports, it has also invested $20 million for a stake in MEDall, a diagnostic chain started by ex-EDS honcho Raju Venkatraman.