Cleantech start-up INDRA has raised $4 m in a Series A funding round co-led by Mela Ventures and Emerald Technology Ventures, with participation from Peak Sustainability Ventures and The Climate Angels.
Founded in 2017 by Amrit Om Nayak and Krunal Patel, INDRA solves complex problem of water treatment in the industrial and sewage segment with its electro-chemical oxidation and coagulation process.
“Solving the wastewater treatment challenge needs continuous innovation and relentless commitment. I am very excited that Mela Ventures shares the same passion for sustainable solutions. This partnership gives us a lot of conviction to confidently pursue and deliver on our promise to drive the world’s transition towards sustainable water management,” said Amrit Om Nayak, Co-Founder and CEO, INDRA.
The company leverages ionic reactions to remove pollutants – including a wide range of unwanted substances, heavy metals, suspended solids, phosphorus, fats, oil, grease, pathogens and dissolved organics among others from wastewater.
Key focus
With its current focus on industrial effluents from textiles, steel manufacturing, pharmaceuticals, chemicals and sewage from hotels and commercial properties, the company’s impact extends across sectors where the need for effective water treatment is paramount.
The estimated current size of the Indian water treatment market is $12 billion; this is expected to reach $20 billion by 2030, noted the company in its statement.
“Our investment in INDRA aligns well with sustainability, which is one of our key investment focus themes. Wastewater treatment is a pressing problem demanding urgent global attention. I am very excited as INDRA solves this challenge comprehensively with minimal infrastructure and space requirements in a sustainable manner. The team led by Amrit and Krunal is very passionate about wastewater management. I wish the team the best in making the world self-sufficient when it comes to water usage,” said N. Krishnakumar, Managing Partner at MelaVentures.