Deeptech startup Uravu Labs has raised $2.3 million in a seed funding round led by JITO Angel Network, Anicut Capital, Speciale Invest, and Rocketship.vc. The round also saw participation from Vesta, Spectrum Impact, ZNL Growth Fund, VERSO, Echo River Capital and HNIs.
Founded in 2020 by Pardeep Garg, Swapnil Shrivastav, Venkatesh R, and Govinda Balaji, Uravu Labs uses liquid desiccants to absorb moisture, and then recovers the absorbed moisture to create freshwater using only renewable energy sources such as solar, biomass, or waste heat.
“We are thrilled to take our renewable water solutions to the next level and expand our reach through new partnerships with leading players in the hospitality and beverage sector. We have reached a significant milestone in our journey, and are determined to establish and grow the Uravu brand,” said Pardeep Garg.
“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.
The startup aims to use the raised capital scaling up and forging new partnerships with leading players in the hospitality and beverage sector to expand their reach and impact.
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Source @Indianstartupnews
