Delhi NCR-based water purifier brand Livpure has secured $27.8 million in fresh funding backed by London-based asset management firm M&G Investments and Ncubate Capital Partners for water purifiers, category expansion, and product development.
Livpure announced that this fresh capital will fuel category expansion and product development, with a significant focus on research and development (R&D). Additionally, the funds will support the expansion of Livpure’s product portfolio and the enhancement of its technology infrastructure. These efforts aim to meet the evolving needs of consumers in the home wellness category.
“With this investment, we will further enhance our focus on developing cutting-edge products that address the growing needs of Indian consumers. We are particularly keen on further enhancing our water-as-a-service offering along with eco-friendly sustainable solutions in home and kitchen offerings,” said Rakesh Kaul, managing director of Livpure.
Livpure Background
Founded in 2012 by Rakesh Malhotra and Navneet Kapoor, Livpure offers a broad range of wellness-focused products. These include water purifiers, subscription-based water purifiers, air coolers, kitchen appliances, mattresses, and sleep accessories.
The startup has raised approximately $80 million in funding to date, according to startup data. Major investors include Multiples Alternate Asset Management, Lakshya Holding, and NK Investment Group.
Livpure operates in a competitive landscape, going head-to-head with companies like DrinkPrime and Urban Company. Urban Company recently entered the branded products space with its new range of intelligent RO water purifiers. Livpure also faces competition from industry giants Kent RO and Eureka Forbes.
Notably, DrinkPrime, based in Bengaluru, raised $3 million earlier this year in a funding round led by SIDBI Venture Capital Ltd.
Financial Performance and Future Outlook
Livpure has shown strong financial performance, with a 35 percent growth in operating revenue, reaching INR 294 Cr for the fiscal year ending in March 2023. Although its losses grew by 10 percent to INR 48.62 Cr, water purifiers remain the key revenue driver, accounting for over 80 percent of the total revenue. The company projects a 45 percent growth across all business segments for the first quarter of FY25, signaling a positive outlook for the ongoing fiscal year.
“This investment will allow us to innovate faster, expand our product portfolio retail presence, and make our high-quality home solutions accessible to more Indians,” said Navneet Kapoor.
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