Smart water meter maker and IoT-enabled integrated water management startup WeGot has raised Rs 10.81 crore from a clutch of investors including HDFC capital. This would be the second fundraise for the Chennai-based company in 2021. It raised Rs 8 crore from angel investors in June.
WeGot has allotted 9,029 preference shares at an issue price of Rs 11,977 each to raise Rs 10.81 crore. Gruhas Proptech has led the round with Rs 3.5 crore while Rahul Talwar and Apollo Infrastructure have invested Rs 3 and 1.99 crore respectively. Guruhas is a prop-tech firm promoted by people behind Puzzolana & Zerodha.
Pratheeban Vivek Siddarth (Rs 1 crore) and HDFC Capital (Rs 25 lakh) have collectively invested Rs 1.25 crore. Joydeep Ponugoti, Rajat Fiscal Service, Razack Family Trust and KVN Enterprise have invested the remaining sum.
According to Fintrackr’s estimates, WeGot’s valuation has jumped 2.1X to Rs 205 crore as compared to Rs 98.5 crore in June.
Besides water meters, WeGot provides IoT devices and softwares to track real time flow of water which helps reduce wastage by 50%. It also raised $2 million in its maiden round in October 2019.