New Delhi, March 17 DrinkPrime, an IoT-enabled water purifier subscription platform, has raised USD 2.2 million (approximately Rs 20 crore) in funding, led by Mirabilis Investment Trust and Artha Continuum Fund.
The Bengaluru-based company plans to use the fresh capital for geographic expansion, strengthening its technology platform, and scaling operations.
Key investments will focus on enhancing IoT and data capabilities to improve device monitoring, predictive servicing, and customer experience, the company said in a statement.
The funds will be used to expand the company's field service infrastructure and support research and development, as well as new product development.
"This capital will help us accelerate our growth as we scale DrinkPrime to 20 cities and work towards serving one million households over the next three years," said DrinkPrime COO Sanjay Sunku. "Our focus will be on strengthening our service operations and infrastructure to support this scale while continuing to build technology-led solutions to address India's drinking water challenges, while also expanding into high-growth Tier-II cities and strengthening its offline retail distribution channels."
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*Moe Puppy raises Rs 2 crore
Gurugram-based D2C pet care brand Moe Puppy has raised Rs 2 crore in a pre-seed funding round led by PedalStart.
The funds will be used for research and development, branding, supply chain optimization, and talent acquisition, according to a company statement.
The funding round also saw participation from angel investors and Zindagi Live Angel Fund.