Urvu Labs Raises $4 Million From JITO Angel Network

Updated on: 27 March 2023 2:34 pm

From a record 900-plus grant applications received, the final grantees were selected on the basis of stringent criteria, including their ability to create social and environmental impact, innovate and on the overall sustainability and scalability of their organisations

Three Indian Start-Ups Get The DBS Foundation Grant Photo: From a record 900-plus grant applications received, the final grantees were selected on the basis of stringent criteria, including their ability to create social and environmental impact, innovate and on the overall sustainability and scalability of their organisations

Bengaluru-based start-up Urvu Labs has raised $2.3 million in a seed funding round led by JITO Angel Network, Anicut Capital, Speciale Invest and Rocketship.vc. Vesta, Spectrum Impact, ZNL Growth Fund, VERSO, Echo River Capital, and multiple individual investors participated in the round.

The seed funding round came nearly three two years after the company raised an undisclosed amount in its pre-seed round. Special Invest led the investment round.

Since its inception in 2019, it has raised $4 million in funding.

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The company will utilise the newly-generated fund in scaling up its business. Additionally, it is eying to build partnerships with other players in the beverage industry.

Founded in 2019 by Pardeep Garg, Swapnil Shrivastav, Venkatesh R and Govinda Balaji, the company is known for producing drinking water by using atmospheric moisture and renewable energy. In a statement, the company claimed to deliver ten thousand liters of drinking water per day.

Talking about the latest development, Pradip Garg, the co-founder of Urvu, said, “Our mission is to revolutionise the water industry with breakthrough technologies that create a sustainable future for everyone. The seed funding round from JITO Angel Network, Anicut Capital, and Speciale Invest validates our efforts and the potential of our technology to address the pressing issue of water scarcity.”

Addressing their decision to invest, Rajat Mehta from JITO Angel Network, said, “We are thrilled to support Uravu Labs in their mission to provide affordable and scalable water solutions. Their technology has the potential to revolutionise 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.”