Greywater Technologies raises Rs. 9 Crore from Nexus Venture Partners
Greywater Technologies Pvt Ltd, a company providing packaged products for water and waste water treatment today announced that Nexus Venture Partners, India’s leading Venture Capital firm will invest Rs. 9 Crore in the company. Greywater operates in India through its wholly owned subsidiary Jaldhara Technologies.
Jaldhara’s products for water and wastewater treatment are targeted at residential and commercial complexes, IT/ITES parks, hotels, malls, hospitals, etc. Jaldhara offers pre-fabricated products that are plug-and-play, and save space and operating costs compared to conventional be-spoke solutions available in the market. The Greywater/Jaldhara founding team comprises top notch industry professionals led by Harshad Bastikar, CEO who was previously SBU Head at Thermax Water, Vikrum Kishore who leads Process Design and Engineering (ex-Thermax) and Nilesh Kulkarni who leads sales (ex-Forbes Marshall). Nexus worked with the founding team to finalize the business plan, market approach and product launch.
Mr Harshad Bastikar, Founder & CEO, Jaldhara Technologies, said, “Our packaged products which are based on proven technologies, save space, reduce costs and are easy to install. We aim to become the market leader based on our innovative approach and the partnership with Nexus is a critical milestone in building our business.”
Anup Gupta, Managing Director, Nexus Venture Partners, who has joined the board of directors of Greywater Technologies said, “The growing pressures of urbanization are accelerating the need for waste water treatment and recycling. We are very excited about Greywater’s approach and team, and believe that they will make a significant impact in the market”.
About Greywater Technologies
Greywater Technologies Private Limited (www.greywatertech.com) offers packaged products for water and waste water treatment. The Company operates in India through its wholly owned subsidiary Jaldhara Technologies Private Limited. The company’s state-of-the-art packaged products which are based on globally accepted treatment technologies have set new benchmarks in water treatment efficiencies. These products deploy an innovative combination of physical separation with biological nutrient reduction. Greywater products offer the advantages of small footprint (save space), modular and flexible design and low life cycle costs compared to traditional solutions. The Greywater team comprises experienced and renowned professionals from industry players like Thermax, Forbes Marshall, etc.
About Nexus Venture Partners
Nexus Venture Partners (www.nexusvp.com) is India's leading venture capital fund, founded by successful entrepreneurs in India and Silicon Valley. It has $320m under management and an active portfolio of over 30 companies across technology, internet, media, consumer, business services and agribusiness sectors. The Nexus team plays an active role in helping entrepreneurs and management teams build market leading businesses. Some of the companies that Nexus has invested in include Netmagic (Internet Infrastructure), snapdeal.com (ecommerce), Komli (Internet advertisement network), DimDim (Open Source Web Conferencing acquired by Salesforce.com), Mapmyindia (Digital Navigation), Deccan Pharma (Neutraceuticals), Gluster (Open source storage), Cloud.com (Cloud infrastructure), Pubmatic (Publisher Ad revenue optimization), Prana (Animation services), Suminter (Organic farming) and Dlight (Solar Lighting). Investors in Nexus include leading university endowments, foundations and sovereign funds.