Indra Water, a Mumbai-based startup, was founded in 2017 by Amrit Om Nayak and Krunal Patel. The company aims to solve the critical issue of wastewater treatment in India, a country facing severe water stress. Here’s a look at their vision, early days, and the founding team.
Indra Water was born out of a need to address India’s worsening water crisis. In 2018, a study by NITI Aayog revealed that nearly 600 million Indians were under “extreme water stress,” and about 200,000 people died annually due to lack of clean water[1]. Amrit Om Nayak and Krunal Patel, ex-batchmates, saw an opportunity to make a difference. They started with a six-month pilot at the Somaiya campus, where they tested their innovative wastewater treatment system. This pilot was successful, processing 25,000 litres of wastewater daily, which was one-seventh the size of the conventional sewage system[1).
The success of the pilot encouraged them to upgrade and make their solution commercially viable. This marked the beginning of Indra Water, with a clear vision to provide sustainable water treatment solutions.
The founding team of Indra Water consists of Amrit Om Nayak, Krunal Patel, Aditya Vemuganti, Abhijit VVR, and Sriteja Allaparthi. Amrit and Krunal are the co-founders who initiated the project. Aditya Vemuganti, who pursued a degree at the University of Washington, joined the team along with Abhijit VVR from BITS Pilani and Sriteja Allaparthi from IIIT Hyderabad[1].
The diverse backgrounds of the founders brought a wealth of knowledge and expertise to the table, helping Indra Water to innovate and grow rapidly.
Since its inception, Indra Water has evolved significantly, from its initial concept to its current state as a leading water treatment startup. Here’s a look at its growth milestones and product portfolio expansion.
Indra Water began with a simple yet effective idea: to develop a portable electrocoagulation-based system for treating industrial effluent and wastewater. This system was designed to be compact and efficient, taking 90% less space than existing solutions and recovering up to 99% of the treated water[2][3][4].
Over time, the company refined its technology and expanded its reach. Today, Indra Water treats wastewater from various industries, including textiles, steel manufacturing, pharmaceuticals, and chemicals. The startup has also ventured into treating sewage from hotels and commercial properties.
Indra Water has achieved several key milestones in its journey. In 2017, the company crossed Rs 1 crore in revenues and expected to reach Rs 6-7 crore in the next six months. By 2024, Indra Water raised $4 million in a Series A funding round led by Mela Ventures and Emerald Technology Ventures, with participation from Peak Sustainability Ventures and The Climate Angels[2][3][4].
This funding has been crucial in expanding their operations and enhancing their technology. The company has treated over a billion liters of water and has potentially provided up to 75% net carbon savings with their water treatment assets.
Indra Water’s product portfolio has expanded to include a range of water treatment solutions. Their proprietary plug-and-play system leverages ionic reactions to remove pollutants such as heavy metals, suspended solids, phosphorus, fats, oil, grease, pathogens, and dissolved organics from wastewater[2][3][4].
The company’s focus on industrial effluents and sewage from various sectors has made their solutions highly versatile. They are currently used by notable end-users like Aditya Birla Group and Unilever[5].
Indra Water’s success is largely due to its innovative technology and robust infrastructure. Here’s a detailed look at their core platform architecture, security and compliance framework, and their innovative approach in the industry.
Indra Water’s core technology involves an electro-chemical oxidation and coagulation process. This patented process uses ionic reactions to remove a wide range of pollutants from wastewater. The system is designed to be compact, taking 90% less space than traditional solutions, and it recovers up to 99% of the treated water[2][3][4].
The plug-and-play nature of their system makes it easy to install and operate in various industrial settings. This has been a significant factor in their ability to treat large volumes of wastewater efficiently.
Indra Water ensures that their systems comply with environmental and regulatory standards. Their technology is designed to meet the parameters set by global environmental authorities, making it a reliable choice for industries and commercial buildings[4].
The company’s focus on sustainability and compliance has earned them recognition and trust from both investors and clients. Their systems generate 70% less sludge, use 35% less in life cycle costs, and require 90% less human intervention compared to conventional systems[2][3][4].
Indra Water is at the forefront of innovation in the water treatment industry. Their technology has several advantages over traditional systems, including a smaller footprint, higher water recovery rates, and significant reductions in sludge and chemical usage[2][3][4].
The company’s commitment to continuous innovation and sustainable solutions has aligned with the goals of their investors, such as Mela Ventures and Emerald Technology Ventures. This partnership has given them the conviction to drive the world’s transition towards sustainable water management[3][5].
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INDRA Water, a Mumbai-based startup, is making a significant impact on the water treatment market in India. Here’s how they are growing and expanding their influence.
INDRA Water has seen substantial growth in its user base since its inception in 2017. The company has successfully treated over 5 million litres of wastewater and industrial effluents from various industries such as textiles, chemicals, and pharmaceuticals[6]. This achievement has helped them gain trust and credibility among their clients.
Their innovative electrocoagulation-based system has attracted a diverse range of customers, including factories and commercial properties. For instance, they have partnered with notable companies like Aditya Birla Group and Unilever to install their systems in various facilities[8].
This expansion in user base is crucial as India faces severe water stress, with nearly 600 million Indians under extreme water stress and 21 cities likely to run out of groundwater by 2020[6]. INDRA Water’s solutions are addressing this critical issue by providing efficient water recycling systems.
INDRA Water is rapidly expanding its market share in the water treatment sector. They are focusing on industrial and commercial applications, including sectors like steel manufacturing, food and beverage, and residential areas[8]. Their proprietary technology, which leverages ionic reactions to remove pollutants, is highly efficient and occupies less space compared to traditional methods.
Their products are modular and easy to install, making them appealing to a wide range of customers. This has helped INDRA Water to position itself well in meeting the increasing needs of industries and commercial buildings around water filtration, adhering to global environmental and regulatory standards[7].
The global packaged wastewater treatment market is expected to grow significantly, reaching $32.4 billion by 2028, and India’s municipal and industrial wastewater treatment market is projected to reach $9.32 billion by 2027. INDRA Water is well-positioned to capitalize on this growth[8].
While INDRA Water's primary focus is on water treatment, their solutions also have financial benefits for their clients. By reducing the amount of sludge generated and minimizing the use of harmful chemicals, they help industries save costs and reduce their environmental footprint[7].
For example, INDRA Water claims to have generated 4,500 tons less of sludge, used 3,600 tons less of harmful chemicals, and produced more than 850 tons less of greenhouse gases compared to conventional water treatment solutions[7]. These savings can be significant for industries, contributing to their financial health.
Additionally, by providing a reliable and efficient water recycling system, INDRA Water helps industries comply with regulatory requirements, avoiding potential fines and penalties related to water pollution[9].
INDRA Water has had a promising financial journey since its founding. Here’s a look at their revenue growth, path to profitability, and investment rounds.
INDRA Water started generating revenue quickly after its inception. In 2017 itself, the company crossed Rs 1 crore in revenues and expected to reach Rs 6-7 crore in the next six months[6]. This rapid growth is a testament to the demand for their innovative water treatment solutions.
Their revenue growth is driven by the increasing adoption of their systems across various industries. The company’s ability to provide efficient and cost-effective solutions has helped them secure significant contracts, contributing to their revenue expansion[7].
As the market for wastewater treatment continues to grow, INDRA Water is poised to see further revenue growth, driven by their technological advantages and expanding customer base.
INDRA Water is working towards achieving profitability through several strategies. One key approach is by reducing the operational costs associated with their water treatment systems. For instance, their systems generate 85% less sludge than traditional water plants, which reduces the area required for landfill and decreases the dependence on fresh water[6].
The company is also focusing on increasing their installation base. Amrit Om Nayak, Co-founder of INDRA Water, mentioned that they hope to hit breakeven with a few more installations[6]. This indicates that they are on a path to sustainability and profitability.
By continuously innovating and improving their technology, INDRA Water aims to maintain its competitive edge and achieve long-term profitability.
INDRA Water has secured significant investments to support its growth. In a Series A funding round, the company raised $4 million co-led by Mela Ventures and Emerald Technology Ventures, with participation from Peak Sustainability Ventures and The Climate Angels[7][8].
This investment aligns with the venture capital firms’ sustainability goals and recognizes INDRA Water’s potential in the water treatment market. The funding will help boost their sales prospects in India and Southeast Asia[8].
The investment also highlights the confidence investors have in INDRA Water’s technology and market position, which is crucial for their future growth and expansion plans.
INDRA Water has formed several strategic partnerships to enhance its offerings and reach. Here are some of the key partnerships they have established.
Although specific details on banking collaborations are not readily available, INDRA Water's focus on sustainability and innovation makes them an attractive partner for financial institutions looking to support green initiatives. Such collaborations could involve financing options for clients adopting INDRA Water’s systems or joint initiatives to promote sustainable water management practices.
Financial institutions often look to partner with companies that have a strong track record in sustainability, and INDRA Water’s achievements in reducing sludge and harmful chemicals make them a viable partner[7].
INDRA Water has partnered with several notable companies to implement their water treatment systems. For example, they have partnered with Aditya Birla Group and Unilever to install their systems in various facilities[8]. These partnerships are crucial as they validate the effectiveness of INDRA Water’s solutions and help expand their market reach.
Such merchant partnerships also provide a platform for INDRA Water to demonstrate the efficiency and cost-effectiveness of their systems, which can attract more clients in the future.
Here are some of their key partners:
INDRA Water’s technology is at the forefront of their success. They have developed a proprietary electrocoagulation-based system that is highly efficient and compact. This technology has been recognized in various forums, including the India Innovation Growth Programme 2.0 (IIGP 2.0), where they were among the top 50 startups[6].
Their technology alliances include collaborations with venture capital firms like Emerald Technology Ventures, which has invested in INDRA Water and will have a representative on their board. This alliance brings in both financial support and technological expertise, helping INDRA Water to further innovate and improve their solutions[8].
Here are some key technology alliances:
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