Deeptech startup Uravu gets $2.3 million funding from JITO, others

Uravu Labs, a Bangalore-based deeptech startup, has received funding of $2.3 million in a seed round from JITO Angel Network, Anicut Capital, Speciale Invest, and Rocketship.vc. Other investors like Vesta, Spectrum Impact, ZNL Growth Fund, VERSO, Echo River Capital and individual investors also took part in the round, the company said on Friday, 24 March 2023.

The company had earlier raised an undisclosed amount in pre-seed financing led by Special Invest in 2021.

"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," said Rajat Mehta, chairman, JIIF (JITO Incubation And Innovation Foundation).

Uravu Labs was started in 2020 by Pardeep Garg, Swapnil Shrivastav, Venkatesh RY, and Govinda Balaji. The company has created a renewable water technology that uses the moisture in the air to create drinking water of the highest calibre. It uses liquid desiccants to absorb moisture and then recovers the absorbed moisture to create freshwater using only renewable energy sources such as solar energy, biomass, or waste heat.

The company will utilise the fresh funding to commercialise its renewable water solutions as well as expand its operations and alliances.

This week, Adept, an artificial intelligence (AI) startup, also raised $350 million as a part of its Series B round of funding from General Catalyst and co-led by Spark Capital. Another startup named

LokiBots, a cloud-native and intelligent automation startup received an undisclosed amount from Mumbai-based HR management solutions providing firm ZingHR.