Thinkphi raises funding for expanding operations

Thinkphi has raised an angel round of funding from serial entrepreneur Nimmagadda Prasad, which the clean-tech company will use for its R&D and building up of sales and distribution network.

Prasad, who recently invested in Sachin Tendulkar’s ISL team Kerala Blasters, is an early backer of companies such as Matrix Laboratories, Maa TV and Care Hospitals.

Thinkphi has also sold its patented rainwater and solar harvesting product to customers such as Godrej Interio and Rustomjee. The angel round of funding will be deployed primarily towards expanding operations, R&D team and starting of sales and distribution activities.

The company plans to stay asset light and ensure focused effort and detail is spent on product design, material selection and manufacturing process, it said in a statement.

With the focus on innovation and R&D, Thinkphi hopes to launch future products around energy saving devices and consumer waste management.

Set up in 2015 by Samit Choksi and Priya Vakil Choksi, Thinkphi was founded with a mission to build simple products that create positive impact on the environment through the use of sustainable and renewable resources.

According to the United Nations, water use has grown at more than twice the rate of population increase in the last century. It is estimated that the demand for water will surpass the supply as early as 2025.

Thinkphi’s long-term goal is to address a global market for environmental goods which is targeted to reach $1.9 trillion by 2020.

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