India, March 2023: Uravu Labs, India’s leading deep-tech start-up, has raised $2.3 Mn in a seed funding round from JITO Angel Network, Anicut Capital, Speciale Invest, Rocketship.vc, Vesta, Spectrum Impact, ZNL Growth Fund, VERSO, Echo River Capital and multiple HNIs for their innovative water technology that creates water from air. The company has developed a renewable water technology which utilises inexhaustible atmospheric moisture and only renewable energy to produce high quality drinking water.
Founded by Mr Pardeep Garg, Mr Swapnil Shrivastav, Mr Venkatesh R and Mr Govinda Balaji, the company uses liquid desiccants to absorb moisture, and then recovers the absorbed moisture to create freshwater using only renewable energy sources such as solar, biomass, or waste heat.
The company draws inspiration from solutions like solar PV/wind, which have revolutionized the electricity sector, and strives to do the same for the water sector. It can deliver tens of thousands of liters of water per day in an affordable manner, making it suitable for a wide range of applications from small-scale residential to large-scale commercial and industrial operations.
With the funding, Uravu Labs aims to take a significant step towards commercializing renewable water solutions, primarily directing the funds towards scaling up and forging new partnerships with leading players in the hospitality and beverage sector to expand their reach and impact.
Rajat Mehta, Chairman, JIIF, said, “We are thrilled to support Uravu Labs in their mission to provide affordable and scalable water solutions. Their technology has the potential to revolutionize the way we access and use water. This investment is a great opportunity to back a cutting-edge technology that can help address one of the most pressing global challenges of our time, and we believe in the team’s ability to execute their vision.”
“Our passion for sustainability and innovation drives us at Uravu Labs. Our mission is to revolutionize the water industry with breakthrough technologies that create a sustainable future for everyone. The seed funding round from JITO Angel Network, Anicut Capital, and Speciale Invest validates our efforts and the potential of our technology to address the pressing issue of water scarcity. We are thrilled to take our renewable water solutions to the next level and expand our reach through new partnerships with leading players in the hospitality and beverage sector. We have reached a significant milestone in our journey, and are determined to establish and grow the Uravu brand.“ said Pardeep Garg, Co-Founder, Uravu Labs
The company is making significant progress in its mission to revolutionize the water industry. With successful installations of its water technology capable of producing 5 LPD and 20 LPD, the company is on track to deliver its most ambitious project – a 1000 LPD system. The design for this system is complete and the company is moving forward with plans to begin testing and implement further performance improvements.
In addition to its success in India, Uravu Labs is also expanding its reach globally. The company is planning its first international pilot project in Japan. This pilot project will serve as the first reference point for Uravu Labs in Japan and open many doors for the company in the country. With this expansion, the company is on its way to providing sustainable water solutions on a global scale.
