Water purifier brand Livpure has successfully raised Rs 233 crore (around $28 million) in a new funding round led by M&G Investments, a London-based investment firm. This round also saw participation from Ncubate Capital Partners, the investment arm of SAR Group, Livpure’s parent company.
M&G Investments contributed Rs 208 crore to the funding round through its Catalyst investment strategy, while Ncubate Capital Partners invested an additional Rs 25 crore. This strategic partnership is expected to help Livpure strengthen its market presence and expand its product offerings.
Purpose of the Funding
Livpure plans to use this fresh capital to focus on product development and category expansion. The company is keen on diversifying its product range and introducing more eco-friendly, sustainable solutions for consumers in India.
Rakesh Kaul, the Managing Director of Livpure, expressed optimism about the brand’s future growth. He said, “With this investment, we will enhance our efforts in creating cutting-edge products that cater to the evolving needs of Indian consumers.”
The Founders Behind Livpure
Livpure was founded in 2012 by Rakesh Malhotra and Navneet Kapoor. The company initially gained recognition for its water purifiers but has since expanded into other categories, including subscription-based water purifiers, air coolers, kitchen appliances, mattresses, and sleep accessories.
Livpure is particularly focused on growing its water-as-a-service model, where customers can subscribe to purified water services. Additionally, the brand is committed to offering sustainable and eco-friendly solutions for home and kitchen appliances. Kaul added, “We are committed to enhancing our water-as-a-service offering and expanding our eco-friendly product range for the home and kitchen.”
Livpure’s Financial Growth
For the fiscal year ending March 2023, Livpure achieved a 35% growth in operating revenue, reaching Rs 294 crore compared to Rs 217 crore the previous year. Despite the revenue increase, the company experienced a modest 10% rise in losses, totaling Rs 48.62 crore.
Water purifiers continue to be the primary revenue source for Livpure, contributing over 80% of the company’s total income. This segment remains a key area of focus as the brand seeks to innovate and offer better access to clean water.
Supporting Sustainable Technologies
M&G Investments is aligned with Livpure’s mission to reduce the cost of access to clean water, which they believe is one of humanity’s most vital resources. Praveg Patil, Head of Asia Pacific at M&G Impact & Private Equity, emphasized this, saying, “As Livpure works towards reducing the cost of access to clean water, we are excited to support their journey. This partnership highlights our commitment to sustainable technologies, and we look forward to helping Livpure scale and reach new heights.”
InCred Capital acted as the exclusive advisor for Livpure during this fundraising round. The fresh infusion of funds is expected to help Livpure accelerate its growth trajectory and drive further innovation in the water purifier market and beyond.
Livpure’s latest $28 million funding round is set to accelerate the company’s product development and market expansion efforts. With strong backing from M&G Investments and Ncubate Capital, the brand is well-positioned to continue its growth while offering sustainable, eco-friendly solutions for Indian consumers.
