DrinkPrime Secures Rs 20 Crore Funding for Growth

DrinkPrime is a subscription-based reverse osmosis (RO) water supplying startup that has successfully raised Rs 20 crore in new funding from Artha Venture Fund and Mirabilis Investment Trust. As stated in the filings of DrinkPrime to the Registrar of Companies (RoC), the board has approved the issuance of 21,718 Series A3 CCPS and 10 equity shares at an issue price of Rs 9,205 per share to accumulate Rs 20 crore.

Investment Breakdown and Future Plans

Artha Venture Fund and Mirabilis Investment Trust each contributed Rs 10 crore during this funding round. The filing indicates that the funds will be used in accordance with the company’s sanctioned business strategy.

Valuation Growth and Stakeholders

According to estimates from Startup Superb, DrinkPrime’s valuation has soared to Rs 340 crore (around $37 million) in this latest funding round, up from Rs 261 crore in the earlier round. With the most recent allotment, both Artha Continuum Fund and Mirabilis Investment Trust own a 2.94% stake each in DrinkPrime on a fully diluted basis.

Background and Operations

Located in Bengaluru, DrinkPrime was established in 2016 by Vijender Reddy Muthyala, Christopher Coelho, and Nayan Bheda. The startup operates a subscription-based platform for water purifiers, providing IoT-enabled purifiers to households.

Financial Performance

DrinkPrime has reported a remarkable 54% growth in operating revenue, rising to Rs 72.13 crore in FY25 from Rs 46.81 crore in FY24. Additionally, the company has managed to reduce its loss to Rs 11.53 crore from Rs 14.14 crore during the same fiscal period.