INDRA, a smart water treatment systems provider, announced a Series A round of $4 million led by Mela Ventures and cleantech pioneer Emerald Technology Ventures, based in Switzerland. The round also saw participation from Peak Sustainability Ventures and The Climate Angels.
INDRA, co-founded by Amrit and Krunal in 2017solves the complex problem of water treatment in the industrial and sewage segment with its patented electro-chemical oxidation and coagulation process. Its technology leverages ionic reactions to remove pollutants – including a wide range of unwanted substances, heavy metals, suspended solids, phosphorus, fats, oil, grease, pathogens, and dissolved organics among others from wastewater.
The estimated current size of the Indian Water treatment market is $12 billion; this is expected to reach $20 billion by 2030.
Amrit Om Nayak, co-founder and CEO of INDRA, said, “Solving the wastewater treatment challenge needs continuous innovation and relentless commitment. I am very excited that Mela Ventures shares the same passion for sustainable solutions. This partnership gives us a lot of conviction to confidently pursue and deliver on our promise to drive the world’s transition towards sustainable water management.”
N. Krishnakumar, managing partner at MelaVentures, said, “Our investment in INDRA aligns well with sustainability, which is one of our key investment focus themes. Wastewater treatment is a pressing problem demanding urgent global attention. The team led by Amrit and Krunal is very passionate about wastewater management. I wish the team the best in making the world self-sufficient when it comes to water usage.”