Boson Whitewater, a water recycling start-up and TruNativ, a nutrition-focused brand, have each bagged Rs 10 crore in equity funding from Zerodha-backed early-stage venture firm Rainmatter. This is as per a report by the Economic Times.
Boson Whitewater is a company that is involved in treating excess sewage treatment plant (STP) water into potable water.
Potable water is drinking water and the company hopes to solve the water crisis in cities like Bengaluru.
TruNativ is a direct-to-consumer (D2C) brand that deals with nutritional products. It sells products like Everyday Protein, Everyday Fibre, and Everyday Sweetener through its website and e-commerce channels.
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Dinesh Pai, head of Rainmatter, said that between 2016 and now, the investment firm has invested around Rs 650 crore into a wide range of start-ups across sectors, as per ET. Pai said that out of the Rs 1000 crore commitment announced last year by Zerodha's co-founder and chief executive, Nithin Kamath, Rs 150 crore has been deployed as of now.
Dinesh Pia reportedly said that Indian start-ups need patient capital to build long-term businesses. He said that Rainmatter is not investing with an exit frame in mind and that the firm would make capital available for start-ups wanting to build for India and the world with a long-term mindset.
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Rainmatter, which is backed by Zerodha, has invested in start-ups across fintech, clean energy, climate tech and health tech and has infused over Rs 30 crore into multiple companies in the last two months.
Overall, the Bengaluru-based fund reportedly has invested in around 100 companies, including 31 fintech companies, 28 companies in climate tech, and 21 firms in the health and nutrition-focused sector.
These also include follow-up rounds in health start-up Devil's Circuit, climate-focused start-up Green Worms, and fintech start-up Actologica.
Recently, Rainmatter participated in the funding round of space tech start-up GalaxEye which closed at $6.5 million.
