Monday, July 22, 2024

INDRA: Spearheading a Revolution in Wastewater Management with Groundbreaking Tech and Funding Boost


INDRA: Revolutionizing Wastewater Management with Cutting-Edge Technology and Series A Funding

In an era where water has become a critical yet scarce resource, the demand for innovative solutions in water treatment is more pressing than ever. Rising to meet this challenge is INDRA, a pioneering cleantech startup co-founded by Krunal Patel, an alumnus of K J Somaiya College of Engineering, and Amrit Om Nayak. Established in 2017, INDRA introduces a promising solution to the water treatment challenges faced by the industrial and sewage segments through its patented electro-chemical oxidation and coagulation process.

INDRA has developed a proprietary water treatment technology that operates on a plug-and-play system, which astonishingly requires 90% less space than traditional solutions and boasts an impressive recovery rate of up to 99% of treated water. This innovative solution is poised to transform the $12 billion Indian water treatment market, which is projected to grow to $20 billion by 2030. INDRA’s groundbreaking technology has applications across various industries, including textiles, steel manufacturing, pharmaceuticals, chemicals, and in managing sewage from hotels and commercial properties.

The startup’s journey began at riidl Somaiya Vidyavihar, where it received invaluable support through investment connections made possible by the BIRAC Seed Fund, supported by the Department of Biotechnology, Government of India. Participating in the Bio-Entrepreneurship Program initiated by Bioriidl, INDRA developed its initial prototypes, gained access to mentorship, and utilized state-of-the-art digital fabrication machinery for research and development. Their first prototype was successfully tested at Somaiya Vidyavihar’s Maitreyi hostel, proving the effectiveness of their solution.

With the support of riidl Somaiya Vidyavihar, INDRA has managed to make significant strides, treating over 1 billion litres of wastewater, reducing approximately 4,500 tons of sludge, 3,600 tons of harmful chemicals, and producing over 850 tons less of greenhouse gases compared to traditional water treatment methods.

The recent achievement of raising USD 4 million in Series A funding marks a significant milestone for INDRA. The funding round, led by Emerald Technology Ventures and Mela Ventures alongside contributions from Peak Sustainability Ventures and The Climate Angels, is set to amplify the startup’s impact, aiming to reach over 500,000 lives. This financial boost is instrumental for INDRA as it seeks to address the global challenge of wastewater management by leveraging the support of leading investors in the cleantech space.

Krunal Patel and Amrit Om Nayak, co-founders of INDRA, express their commitment to continuous innovation and their aim to save up to 75% of net carbon emissions in comparison to conventional processes. Their efforts align with the Sustainable Development Goal 6 set by the United Nations, emphasizing the importance of clean water and sanitation for all.

Gaurang Shetty, Chief Innovation Catalyst at riidl Somaiya Vidyavihar, highlighted the global urgency of addressing wastewater treatment and commended INDRA for its innovative approach and minimal infrastructure requirements, marking a significant step towards sustainable water management.

As INDRA moves forward, its journey from an idea incubated within the encouraging ecosystem of riidl Somaiya Vidyavihar to a flourishing startup securing substantial Series A funding exemplifies the potential of innovative solutions in addressing some of the world’s most pressing environmental challenges.

Alex Sterling
Alex Sterling
Alex Sterling is a seasoned journalist with over a decade of experience covering the dynamic world of business and finance. With a keen eye for detail and a passion for uncovering the stories behind the headlines, Alex has become a respected voice in the industry. Before joining our business blog, Alex reported for major financial news outlets, where they developed a reputation for insightful analysis and compelling storytelling. Alex's work is driven by a commitment to provide readers with the information they need to make informed decisions. Whether it's breaking down complex economic trends or highlighting emerging business opportunities, Alex's writing is accessible, informative, and always engaging.

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