DrinkPrime, a Bengaluru-based water technology startup, has raised Rs 20 crore in a fresh funding round led by Artha Venture Fund and Mirabilis Investment Trust, with the round priced at roughly a 30% valuation premium. The capital will support product development, technology upgrades and geographic expansion in India’s growing home water purification market.
Funding details and share allotment
Regulatory filings show DrinkPrime’s board approved the allotment of 21,718 Series A3 compulsorily convertible preference shares, along with a small number of equity shares, at an issue price of Rs 9,205 per share. The combined investment from Artha Venture Fund and Mirabilis Investment Trust totals Rs 20 crore, with each investor contributing Rs 10 crore.
Valuation and investor stakes
The fresh round lifts DrinkPrime’s valuation to about Rs 340 crore (around $37 million), up from roughly Rs 261 crore — a near 30% increase. Post-allotment, Artha Continuum Fund and Mirabilis Investment Trust will each hold about 2.94% of the company on a fully diluted basis. The valuation uptick reflects growing investor interest in tech-enabled subscription services for essential household needs.
Business model and recent performance
Founded in 2016 by Vijender Reddy Muthyala, Christopher Coelho and Nayan Bheda, DrinkPrime supplies IoT-enabled water purifiers on a subscription basis, allowing customers to access filtration hardware and servicing through affordable monthly plans rather than outright purchase.
Financially, the company reported operating revenue of Rs 72.13 crore in FY25, up 54% from Rs 46.81 crore in FY24. Losses narrowed to Rs 11.53 crore in FY25 from Rs 14.14 crore a year earlier, indicating improving unit economics as the business scales.
Use of proceeds and market context
DrinkPrime will deploy the new capital to strengthen its technology infrastructure, refine product offerings and expand distribution across India. The investment comes amid rising demand for safe, convenient home water solutions, driven by urbanisation, growing health awareness and preference for asset-light subscription services.
