Water purification player Boon attracts $5-M from Spain’s Roca Group Ventures, others

Gurugram-based water technology startup Boon (formerly Swajal Water) has raised USD 5 million in a mix of equity and debt in a funding round that marked the first investment in India by Roca Group Ventures, the investment arm of Spanish bathroom products firm Roca Group. Other investors too participated in this round.The new funds will be used to scale an artificial intelligence (AI)-enabled water IoT (internet of things) platform that would help water purifiers monitor the quality of drinking water with app-based quality adjustments and also expand services to the North American market.Boon offers drinking water solutions for communities, hospitality firms and companies. It currently has three products: a smart purifier, a refill system that offers glass water bottles instead of plastic bottles, and a water monitoring system.