Tuesday, May 28

Water Management startup WEGoT raises USD 2 mn seed funding

An integrated water management solutions startup WEGoT has raised USD 2 million (about Rs 14.2 crore) in seed funding led by GoFrugal, Shyam Shekar from iThought, and Brigade Enterprises Ltd.

Other leading investors Vibhu Natarajan (Director at Grotech Landscapes), Rajagopal S from Entrust, Joydeep Ponugoti (Manbhum Constructions) and Promod Kumar also participated in this round.

“This capital infusion will be used predominantly to strengthen its Internet of Things (IoT)-enabled product portfolio, scale its presence in India. The company also plans to invest in recruitment and hopes to double its employee base in the next 6-months for R&D, and sales and marketing,” it added.

The solution is subscription-based, wherein the company gives the product free and users pay a monthly fee of Rs 149 (residential)/20 paise per sq ft (Commercial) apart from installation charges.