Private Equity PE Fund Investments
Rite Water Solutions raises Rs.66-Cr from Incofin fund
Source India Education Diary (opens in a new tab)Press Release (opens in a new tab)
Nagpur-based Rite Water Solutions (India) Pvt Ltd, specialising in water quality solutions, has raised EUR 7.5 million (INR 65.86 Cr) from Incofin Investment Management's Water Access Acceleration Fund (W2AF). PwC was the exclusive financial advisor to the company on this equity fund raise.
Founded by Vinod Gaan, Rite Water focuses on providing cost effective and sustainable solutions for safe drinking water across India by collaborating with governments, corporations, and local authorities. The company claims to have deployed over 5,200 purification units and treatment plants across India, treating more than 1 crore litres of water per day.
From the Venture Intelligence PE-VC Deal Database: In Apr-14, Rite Water had raised INR 10 Cr from Sidbi VC.. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)