DrinkPrime raises $3 million funding from SIDBI Venture Capital, others

DrinkPrime has raised $3 million from SIDBI Venture Capital Ltd, an investment management company and a wholly owned subsidiary of SIDBI, the Apex Financial Institution in the country for the MSME sector.

In the round, existing investors also participated, the company said in a press release today, May 15.

“We want to ensure DrinkPrime gets to expand and take its mission of providing clean, safe and healthy drinking water to all. We believe in the mission and have seen them grow over the years. Now, we look forward to DrinkPrime’s accelerated growth,” said Debraj Banerjee, senior fund manager, SIDBI Venture Capital Ltd.

This funds will be used to strengthen DrinkPrime's market position.

“This strategic investment will empower DrinkPrime to accelerate expansion plans, develop our innovative product portfolio and strengthen our industry-leading and industry-disrupting Internet of Things (IoT) feature.” said Manas Ranjan Hota, co-founder and COO of DrinkPrime, with respect to this investment and the utilisations of funds," said Manas Ranjan Hota, Co-founder and COO, DrinkPrime.

DrinkPrime claims to offer clean, safe, and healthy drinking water to more than 2 lakh families in seven Indian cities currently. It aims to provide clean drinking water to all.