Watertech startup Boon secures $5 million in funding from Roca Group Ventures
Watertech startup Boon has raised $5 million in a funding round led by Spanish Roca Group Ventures, its first-ever investment in India, with participation from others. The fundraise was a mix of equity and debt.
Cofounded by IIT Kanpur alumnus Vibha Tripathi and Advait Kumar in 2015, Boon (formerly known as Swajal) is a technology startup focused on remote water purifying, monitoring and dispensing products.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Product ManagementVisitMIT xPROMIT Technology Leadership and InnovationVisitIndian School of BusinessProfessional Certificate in Product ManagementVisitThe company will use this capital to scale its products including AI-enabled WaterIot platform which helps purifiers monitor the quality of water dispensed with app-based quality adjustments.
«Water has taken a back seat and lately it has been feeling like we are passive spectators when it comes to water quality, plastic bottles or microplastics in drinking water. We are very excited to have partnered with Roca in our efforts to challenge the status quo of drinking water,» Kumar said in a statement.
«We are excited on this first investment in an Indian startup with Boon. Their advanced approach to water purification with a clear inclination towards sustainability and technological innovation is commendable,» Roca Group said.
