Companies

WEGoT announces $1.5 million fundraise in pre-series A round

Our Bureau | | Updated on: Dec 09, 2021
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The water management solution provider pledges to save 10 billion litres of water in 2022

WEGoT Utility Solutions, a Chennai-headquartered integrated water management solution provider, on Thursday announced $1.5 million fundraise in a pre-series A round.

The round was led by Gruhas Proptech (promoted by Puzzolana Group’s Abhijeet Pai and Zerodha co-founder Nikhil Kamath), Rahul Talwar from DLF Family Office, and Harshad Reddy of Apollo Hospitals Family. The current funding round also saw participation from WEGoT’s existing investors, HDFC Capital Advisory and the promoters and CEO of Prestige Group.

Founded in 2015, WEGoT's IoT sensors help people in residential as well as commercial properties to conserve water by regulating its flow, detect leaks by monitoring the usage in real time and by sending instant alerts of water wastage to users. WEGoT claims to have conserved over three billion litres of water since its inception and it pledges to further save 10 billion litres of water in 2022.

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The company has implemented over one lakh smart devices in over 30,000 homes and over 40 million sq.ft of commercial real estate. Its key clients include large developers such as Prestige Group, Godrej Properties, Brigade Group, Mahindra World City, and Brookfield, among others

Abilash Haridass, Co-Founder & CEO, WEGoT Utility Solutions, said the funding will help them expand their presence in the west and north geographies, strengthen technology stack and enhance the existing product capabilities to build globally-acceptable products.

The company has visibility to scale to 10 lakh devices in the next 12 months, he added.

Published on December 09, 2021

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