Indian/US cleantech startup Fluid Analytics begun its Pre-Series A funding round by securing almost €1.5 million investment.
The company, which is led by CEO Asim Bhalero and Nidhi Jain, has plans to execute to scale-up its expansion, focusing initially on North America.
New investors lead the round
Leading the initial investment is Pravega Ventures, an early-stage venture capital fund, specialising in offering seed and pre-Series A funding; they are joined by an angel investor.
Mukul Singhal, co-founder, and partner at Pravega, explained why the company chose to invest: “Given the escalating stress on water systems worldwide due to climate change and population growth, Fluid Analytics offers a distinctive strategy to bolstering cities' water resilience. Their technology, poised at the intersection of sustainability and scalability, aligns with our strategic investment goals.”
A vision to create a world free from water pollution
Fluid Analytics’ CEO Bhalero said: “Following the exciting announcement of our recognition as a Top Innovator at the World Economic Forum, we have persistently advanced our mission to establish ourselves as a leading water analytics solution in the market.
“This investment contributes to our vision of a world free from water pollution. We are thankful to our investors for their faith in Fluid Analytics and our mission,” he added.
New investors lead the round
Leading the initial investment is Pravega Ventures, an early-stage venture capital fund, specialising in offering seed and pre-Series A funding; they are joined by an angel investor.
Mukul Singhal, co-founder, and partner at Pravega, explained why the company chose to invest: “Given the escalating stress on water systems worldwide due to climate change and population growth, Fluid Analytics offers a distinctive strategy to bolstering cities' water resilience. Their technology, poised at the intersection of sustainability and scalability, aligns with our strategic investment goals.”
Growing in the North American Market
Fluid Analytics data analytics technology monitors a wide spectrum of pipeline conditions using an AI-based wastewater surveillance robot, including leaks. The robot can map underground networks, inspect water quality and flow, and capture pipe health. The company also offers disease detection in water as a service.
The team won the Imagine H2O’s 2020 Urban Water Challenge Audience Choice Award for using its robots to help map India’s sewers.
With an initial focus on the southeast Asia market, where 80 per cent of wastewater is returned to the environment untreated, the company has more recently worked with US utilities and now plans on further growth, both in North America and other parts of the globe.
“This success has enabled us to distinguish ourselves as we embark on expanding throughout North America,” added Jain.
The company plans to continue raising funds as it moves through the round.
