While M&G Investments pumped in INR 208 Cr into Livpure, Ncubate Capital Ventures invested the remaining INR 25 Cr
The startup plans to deploy the fresh capital to expand its product portfolio, increase its market reach and strengthen its tech stack
Founded in 2012, Livpure offers a wide range of wellness-focused products such as water purifiers, subscription-based water purifiers, air coolers and kitchen appliances
Delhi NCR-based water purifier brand Livpure has secured a fresh funding of INR 233 Cr (about $27.8 Mn) from London-based asset management firm M&G Investments and Ncubate Capital Partners.
While M&G Investments pumped in INR 208 Cr, Ncubate Capital Ventures invested the remaining INR 25 Cr.
In a statement, the startup said it will use the capital for category expansion and product development through R&D. Besides, the funds will also be utilised for product portfolio expansion and to strengthen tech stack.
“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.
Founded by Rakesh Malhotra and Navneet Kapoor in 2012, Livpure offers a wide range of wellness-focused products such as water purifiers, subscription-based water purifiers, air coolers, kitchen appliances, mattresses and sleep accessories.
Commenting on the fundraise, Kapoor said, “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.”
According to Tracxn, Livpure has raised $64.9 Mn in funding till date from marquee investors such as Multiples Alternate Asset Management, Lakshya Holding and NK Investment Group.
The startup competes with the likes of DrinkPrime and Urban Company, with the latter having recently forayed into the branded products space with the launch of a new range of smart RO water purifiers. Besides, it also competes with behemoths like Kent RO and Eureka Forbes.
Earlier this year, Bengaluru-based DrinkPrime raised $3 Mn in a funding round led by SIDBI Venture Capital Ltd. DrinkPrime was also among the D2C brands which featured in Inc42’s ‘FAST42’ list for 2024.
