Watertech startup Boon raises $5 Mn in Series A

Watertech startup Boon has raised $5 million in Series A funding round, in a mix of equity and debt. The round was led by Spanish-based Roca Group Ventures along with participation from other investors.This is maiden institutional investment for Roca Group in India. Roca also acquired Parryware in India in 2008.

Boon had previously secured $1.6 million in its last funding round back in February 2021.

The fresh proceeds will be allocated towards scaling its AI-enabled Waterlo platform, Boon said in a press release.

Co-founded in 2015 by Vibha Tripathy and Advait Kumar,  Boon (formerly known as Swajal) leverages its patented technologies as predictive filter maintenance using AI to ensure high efficiency and reliability of water purification systems. The platform weeds out plastic packaged water with sustainable solutions using  technology that tracks the quality of water and health of filters in real time and claims to make it cheaper than buying plastic water.

According to the Gurugram-based company, its WaterIo product helps purifiers to monitor the quality of every single drop of water with app-based quality adjustments. Boon works with major offices, hospitals, universities, airports, train stations to provide sustainable hydration. It also launched WaterATM as a community water purification station in India and provides sustainable glass water solutions for hotels.

Boon is backed by institutions like the Department of Science and Technology (Government of India), Rajasthan State Government and SIDBI, as well as international agencies like UNDP and REEEP. 

The notable players in this space are Uravu Labs, Aquasense, Oceo Water, DrinkPrime et al.