Rite Water Solutions, which is into potable water and water quality improvement solutions, on Monday said it has secured an investment of 7.5 million euros (around Rs 67 crore) from Belgium-based Incofin Investment Management's water access acceleration fund.
Rite Water focuses on providing comprehensive, cost-effective, and sustainable solutions for safe drinking water to regions where water sources are chemically and biologically contaminated, the company said in a statement.
Incofin is an international impact investment manager with USD 1.4 billion of assets under management.
In March, it launched water access acceleration fund, making it the first private equity fund for safe drinking water.
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The investors in the fund include Danone, BNP Paribas, the US International Development Finance Corporation, the Danish development finance institution IFU, Norfund and the US Agency for International Development.
For the past 15 years, Rite Water has been collaborating with governments, companies, and local authorities to extend safe drinking water access and has deployed over 5,200 purification units and treatment plants across 12 states so far, the statement added.
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