Indra, a startup in the cleantech sector, secures $4 million in funding during its Series A financing round.

Indra, a provider of intelligent water treatment systems, has secured $4 million in its Series A funding round led by Emerald Technology Ventures and Mela Ventures. Additional participation in the round comes from Peak Sustainability Ventures and The Climate Angels. Co-founded by Amrit Om Nayak and Krunal Patel in 2017, Indra addresses the intricate challenges of water treatment in industrial and sewage settings through its patented electro-chemical oxidation and coagulation process.

Indra's technology utilizes ionic reactions to eliminate pollutants, ranging from various unwanted substances and heavy metals to suspended solids, phosphorus, fats, oil, grease, pathogens, and dissolved organics, among others, from wastewater. The company's proprietary water treatment solution is a plug-and-play system that requires 90% less space compared to existing solutions and can recover up to 99% of the treated water.

Nayak expressed enthusiasm about the partnership with Mela Ventures, stating, "Solving the wastewater treatment challenge needs continuous innovation and relentless commitment. This partnership gives us a lot of conviction to confidently pursue and deliver on our promise to drive the world’s transition towards sustainable water management."

Indra's current focus is on industrial effluents from sectors such as textiles, steel manufacturing, pharmaceuticals, chemicals, as well as sewage from hotels and commercial properties. The company claims to have treated over a billion liters of water, potentially resulting in up to 75% net carbon savings with their water treatment assets. Their solution is said to save space, generate less sludge, require less human intervention, and save costs throughout its life cycle.

Estimates suggest that the current size of the Indian water treatment market is $12 billion, and projections indicate it could reach $20 billion by 2030.