A combination of debt and equity was raised by the watertech startup Boon in a $5 million Series A funding round. Roca Group Ventures, a Spanish company, led the round with participation from other investors. The Roca Group is making its first institutional investment in India with this. 2008 saw Roca purchase Parryware in India as well.
In its most recent funding round, which took place in February 2021, Boon had previously raised $1.6 million.
Boon stated in a press release that the additional funds will be used to scale its AI-enabled Waterlo platform.
In order to guarantee high efficiency and dependability of water purification systems, Boon (previously known as Swajal), co-founded in 2015 by Advait Kumar and Vibha Tripathy, uses its patented technologies as predictive filter maintenance using AI. Using technology that monitors the health of the filters and the quality of the water in real time, the platform filters out plastic packaged water with sustainable solutions, claiming to be more affordable than purchasing plastic water.
With app-based quality adjustments, the Gurugram-based company claims that its WaterIo product assists purifiers in monitoring the quality of each and every drop of water. Boon supplies sustainable hydration to major workplaces, medical facilities, academic institutions, airports, and train stations.
Additionally, it offers sustainable glass water solutions for hotels and introduced WaterATM, a community water purification station in India.
Institutions such as the Department of Science and Technology (Gov. of India), the State Government of Rajasthan, SIDBI, and international organizations like UNDP and REEEP support Boon.
Uravu Labs, Aquasense, Oceo Water, DrinkPrime, and others are prominent players in this field.
