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Devic Earth raises funding from Blue Ashva

Bengaluru: Devic Earth Pvt Ltd, a startup focussed on air-pollution control equipment, has raised Rs 10 crore (approximately $1.36 million at current exchange rates) in its first institutional funding round.

Bengaluru-based Devic Earth has raised this capital from Blue Ashva Sampada Fund, which is managed by India- and Singapore-based investment firm Blue Ashva Capital.

Devic Earth was set up in 2018 by Srikanth Sola. The company says it is focused on eradicating health and environmental problems caused by pollution.

It uses its intellectual property to offer products that are both scalable and sustainable. These include ‘Pure Skies’, an air purifier that Devic Earth claims can remove between 40% and 50% of nanoparticles smaller than 20 microns.

The company will use the capital it has raised to accelerate its growth and product roadmaps, and increase operational presence in global markets, it said in a statement.

“Its (Pure Skies’) ability to solve air pollution at scale for cities and large outdoor areas, factories, and industries would find application globally. Truly an Indian innovation ready to solve the global challenge of air pollution,” Blue Ashva Capital founder and chief executive officer Satya Bansal said.

Source
VCCiRCLE

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