Boon, a pioneering watertech startup, has successfully raised $5 million in a Series A funding round. The investment, a mix of equity and debt, was spearheaded by Spanish bathroom products giant Roca Group’s venture fund, Roca Group Ventures. This marks the fund’s inaugural investment in an Indian startup.
Established in 2015 and previously known as Swajal, Boon specialises in developing water purification, monitoring, and dispensing products. The startup provides sustainable drinking water solutions for the hospitality industry, enabling establishments to avoid plastic bottles by refilling water in eco-friendly packaging. Boon’s innovative solutions are also utilised by offices, hospitals, universities, airports, and train stations. The company is supported by notable organisations such as the Department of Science and Technology, the Rajasthan State Government, SIDBI, the United Nations Development Programme, and the Renewable Energy and Energy Efficiency Partnership (REEEP).
Boon’s Founder expressed enthusiasm about the funding, stating, “Water has often been overlooked, and it feels like we are passive spectators regarding water quality, plastic bottles, and microplastics in drinking water. We are thrilled to partner with Roca in our efforts to challenge the status quo of drinking water.” The startup plans to use the newly acquired capital to enhance its AI-enabled WaterIoTech platform, which allows water purifiers to monitor water quality in real-time. This technological advancement aims to provide consumers with safer and cleaner drinking water.
Roca Group Ventures praised Boon’s innovative approach to water purification, highlighting the company’s commitment to sustainability and technological innovation. “Their advanced approach to water purification with a clear inclination towards sustainability and technological innovation is commendable. We believe in Boon’s potential to revolutionise the WaterTech industry and are eager to support their growth and expansion,” stated Roca Group Ventures.
