Private Equity PE-VC Fund Investments
Water purifier seller DrinkPrime raises Rs.20-Cr from Artha Venture, Mirabilis
Source DrinkPrime (opens in a new tab)Entrackr (opens in a new tab)
Bengaluru-based DrinkPrime has raised INR 20 crore from Artha Venture Fund and Mirabilis Investment Trust, with each investing INR 10 crore. The company allotted 21,718 Series A3 CCPS (compulsorily convertible preference shares) and 10 equity shares at an issue price of INR 9,205 per share. Post transaction, the company is to be valued at INR 340 crore.Founded in 2016 by Vijender Reddy Muthyala, Christopher Coelho, and Nayan Bheda, DrinkPrime operates a subscription-based water purifier platform providing IoT-enabled purifiers to households.
Company website ↗ (opens in a new tab)
Between Apr-20 and Jan-24, Drink Prime had attracted about USD 19.8 M from Pivot Ventures, SIDBI VC, ZNL Ventures, Stride Ventures, Caspian Advisors, Northern Arc Capital, Kwaish Ventures, Omidyar Network, Peak XV Partners, Z Nation Lab, and others.For FY25, Drink Prime had reported about INR 72.1 Cr in Operating Income and about INR 11.5 Cr in Net Loss.