Water purification brand Livpure has raised Rs 233 crore (approximately $28 million) in the last funds round led by London-based investment firm M&G Investments through its Catalyst investment strategy.
While M&G invested Rs 208 crore, the remaining Rs 25 crore was contributed by Ncubate Capital Partners, the investment arm of Livpure’s parent company SAR Group.
Purpose of fundraising
The company plans to use the capital raised for product development and category expansion efforts as it seeks to diversify its offering and strengthen its market presence.
“With this investment, we will further enhance our focus on developing cutting-edge products that address the growing needs of Indian consumers,” said Rakesh Kaul, CEO of Livpure.
Who are the founders?
Founded in 2012 by Rakesh Malhotra and Navneet Kapoor, Livpure offers a wide range of products including water purifiers, subscription purifiers, air coolers, kitchen appliances, mattresses and sleep accessories.
The company is particularly focused on expanding its water-as-a-service model and introducing green and sustainable solutions in home and kitchen appliances.
“We are particularly interested in further enhancing our water-as-a-service offering, along with green and sustainable solutions in home and kitchen products,” Kaul said.
Livpure’s financial performance
For the fiscal year ended March 2023, Livpure reported a 35% increase in operating revenue at Rs 294 crore, compared to Rs 217 crore in the previous fiscal year.
Despite this revenue growth, the company’s losses increased by only 10%, totalling Rs 48.62 crore.
The water purifier segment remains the largest revenue driver, accounting for over 80% of the company’s total revenue.
Praveg Patil, Head of Asia Pacific at M&G Impact & Private Equity, said: “In Livpure’s endeavour to reduce the cost of access to clean water, arguably humanity’s most fundamental and vital resource, we are on the same page. This partnership underlines our commitment to sustainable technologies and we look forward to supporting Livpure’s vision to drive the brand to scale and achieve new milestones.”
InCred Capital acted as exclusive advisor to Livpure on the fundraising.
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