Deeptech startup Uravu Labs has raised $2.3 million in seed round from JITO Angel Network, Anicut Capital, Speciale Invest, and Rocketship.vc.
Vesta, Spectrum Impact, ZNL Growth Fund, VERSO, Echo River Capital and individual investors also participate in the round. Previously, Uravu Labs had raised an undisclosed amount in pre-seed financing led by Special Invest in 2021.
The funds will be used to commercialise its renewable water solutions as well as expand its operations and alliances, the company said in a statement.
Founded in 2020 by Pardeep Garg, Swapnil Shrivastav, Venkatesh RY, and Govinda Balaji, Uravu Labs has developed a renewable water technology that utilises atmospheric moisture to produce high-quality drinking water. It uses liquid desiccants to absorb moisture and then recovers the absorbed moisture to create freshwater using only renewable energy sources such as solar energy, biomass, or waste heat.
The firm has signed beverage giants such as AB InBev and Radico Khaitan as customers and is reaching out to many more beverage and commercial customers in the Indian, Southeast Asian, Middle East, and Japanese markets.