SUMMARY
The startup raised $1.6 Mn in its pre-Series A round led by Pravega Ventures
Fluid Analytics said it would use the capital to expand the deployment of its solutions, with a special focus on North America
Founded in 2016, the startup uses data analytics for solving urban water pollution and uses AI to ensure effective monitoring of water and wastewater infrastructure in cities
Cleantech startup Fluid Analytics has raised $1.6 Mn (around INR 12.4 Cr) in its ongoing pre-Series A funding round, led by Pravega Ventures.
In a statement, the startup said the round also saw participation from an angel investor. However, it didn’t disclose the name of the investor.
Fluid Analytics said it would use the capital to expand the deployment of its solutions for positive environmental and public health impact, with a special focus on North America.
Founded by Nidhi Jain and Asim R. Bhalerao in 2016, Fluid Analytics deploys data analytics for solving urban water pollution. It uses artificial intelligence to ensure effective monitoring of water and wastewater infrastructure in cities.
Its platform also monitors water infrastructure health, waterway conditions, and the spread of water-borne diseases at scale.
Commenting on the funding, cofounder and CEO Bhalerao 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.”
Citing the investment rationale, Pravega cofounder and partner Mukul Singhal said, “Given the escalating stress on water systems worldwide due to climate change and population growth, Fluid Analytics offers a distinctive strategy to bolster cities’ water resilience. Their technology, poised at the intersection of sustainability and scalability, aligns with our strategic investment goals.”
Fluid Analytics started with a focus on Southeast Asia but is now looking to expand throughout North America and India, cofounder Jain said.
The startup claims to have worked with utility companies in the US and have monitored over 400 Mn gallons (1.5 Bn litres) of urban wastewater spills and enabled the treatment and reuse of 200+ Mn gallons (800 Mn litres) daily. It monitors 17.5 Mn people for water-borne diseases, as an indicator of drinking water contamination.
The fundraise comes amid the ongoing funding winter which has impacted the entire Indian startup ecosystem, including the cleantech sector. Indian climate tech startup funding fell almost one-third year-on-year (YoY) in 2023.
This has also forced startups in the sector to take cost-cutting measures, including layoffs. In December, Bolt.Earth sacked around 15-20% of its workforce in a restructuring exercise.
In another such instance, battery startup Log9 Materials laid off 115 contractual employees last month.
