In a pre-Series A funding round, the water technology company Althion raised Rs 3.6 crore from BioAngels, which is powered by the IAN Group. Notable investors Arun Seth, Om Manchanda, KNK Venkatraman, and Shubham Rastogi also participated.
Previously, the Hyderabad-based business raised $180,000 from C-CAMP and other sources.
According to a press release from Althion, the new funding will be used to support research and development (R&D) efforts on products and solutions targeted at improving kidney dialysis sustainability and efficiency, build a larger facility to expand operations, and pilot the production of 40 units of its novel tabletop laboratory water purification system.
Established in 2017 by Surya Rao, Althion creates state-of-the-art ultra-pure water systems for the semiconductor, healthcare, and research sectors. BIRAC-backed and in line with the Make in India campaign, the company’s innovations are enabling dialysis facilities, biotechnology labs, and top hospitals throughout the nation.
Althion claims that its high-quality, reasonably priced products are intended to fill the gap in high-cost solutions. By facilitating predictive and preventive maintenance, its exclusive Althion Remote Monitoring System (ARMS) further strengthens its competitive edge. Reputable organizations such as Sir Ganga Ram Hospital, Homi Bhabha Memorial Cancer Centre, Narayana Hrudayalaya, and Nephroplus centres throughout India, it claims, already trust the company’s products.
For the development of its kidney dialysis and tabletop products, Althion says it has already received grants from BIRAC in addition to seed money from AIC CCMB Hyderabad and C-CAMP Bangalore. Additionally, funding has been approved for USFDA certifications and CE marking, which will open markets in Asia, Africa, and Latin America.
