FluxGen Sustainable Technologies Raises Rs 28 Crore for Water Management Solutions
FluxGen Sustainable Technologies, a forward-thinking climate tech company, has successfully secured Rs 28 crore in a pre-Series A funding round led by IAN Alpha Fund. This funding round also included participation from Rainmatter, Gameskraft Technologies, Intersection Ventures, and Force Ventures, alongside contributions from existing investors such as Axilor Ventures and Arali Ventures.
Funding Utilization for Expansion
The capital raised will facilitate FluxGen’s plans to scale its AI and IoT-driven water management solutions, broaden its reach into new industrial markets, and enhance customer acquisition efforts both in India and internationally, as stated in a company press release.
About FluxGen and Its Offerings
Founded in 2021 by Ganesh Shankar and Emanuel Deepak, FluxGen offers comprehensive water intelligence solutions that support real-time monitoring, predictive analytics, and ensure regulatory compliance for various industries. The company’s patent-pending products and leading platform, AquaGen, enable organizations to optimise their water utilisation, prevent wastage, and reduce water-related operational and supply-chain challenges.
Client Base and Impact
The Bengaluru-based firm boasts over 110 clientele, including prominent firms like TATA Steel, Aditya Birla Group, Care Hospitals, Mahindra Group, and Microsoft. FluxGen caters to sectors that require significant water use, such as metals and mining, food and beverage, textiles, pharmaceuticals, automotive, and healthcare. The company further asserts that its clients have recorded up to a 30% decrease in water consumption.
Market Potential
Research indicates that the Indian smart water management market is expected to exceed Rs 42,000 crore in the next 7–10 years, with an annual SaaS opportunity estimated at Rs 5,000 crore.
Innovative Technologies Employed by FluxGen
FluxGen employs advanced technologies like Artificial Intelligence (AI), Generative AI, Geospatial Imaging, and Cloud Computing to make water data as clear as water itself. By leveraging AI-driven analytics, the firm enables real-time oversight of entire water systems, providing prescriptive insights that assist in optimising water management and reducing wastage while addressing associated risks.
Partnerships and Client Trust
FluxGen has established partnerships with Cisco, KPMG, and Microsoft, and its innovative solutions are trusted by clients across various sectors, including natural resources, manufacturing, smart cities, commercial real estate, and healthcare facilities. The solutions offered are crafted for effortless scalability across multiple use cases and geographic locations.
Future Expansion Plans
As part of its vision for growth, FluxGen is gearing up for rapid expansion in both the domestic and international markets, specifically targeting regions like the Middle East and Africa, where water scarcity poses a significant challenge.