A $2.3 million seed round of funding was provided by JITO Angel Network, Anicut Capital, Speciale Invest, and Rocketship for the deeptech business Uravu Labs. vc.
Participating in the round are Vesta, Spectrum Impact, ZNL Growth Fund, VERSO, Echo River Capital, and private investors. Uravu Labs has previously secured an unknown sum in pre-seed funding under the direction of Special Invest in 2021.
According to a statement from the firm, the money will be used to commercialize its renewable water solutions and to grow operations and partnerships.
Pardeep Garg, Swapnil Shrivastav, Venkatesh RY, and Govinda Balaji established Uravu Labs in 2020, and the company has created a renewable water technology that uses atmospheric moisture to create high-quality drinking water. It utilizes liquid desiccants to collect moisture, recovers the moisture, and then produces freshwater using solely sustainable energy sources like solar energy, biomass, or waste heat.
Large beverage companies like AB InBev and Radico Khaitan have signed on as clients for the company, and it is actively pursuing a large number of commercial and beverage clients in the Indian, Southeast Asian, Middle Eastern, and Japanese sectors.