[Funding alert] Devic Earth raises pre-Series A round of Rs 10 Cr from Blue Ashva Capital
Bengaluru-based Devic Earth, a green technology company, has raised its first institutional funding of Rs 10 crore from Blue Ashva Sampada Fund.
Started in 2018 by cardiologist Dr Srikanth Sola with the aim of tackling pollution, which is often the root cause of various health and environmental disorders, Devic Earth offers user-friendly products and solutions for the problems caused due to air pollution.
Its flagship product, ‘Pure Skies’, serves as an air purifier and uses Wi-Fi-enabled technology to handle airborne gaseous and particle pollutants in industrial complexes, homes, and cities. "A single push of a button can help remove 40-50 percent of nano-sized particles at <20µm, including PM2.5 and PM10," according to the company.
The company has installed ‘Pure Skies’ with global companies across sectors like steel, cement, hotels, mining, manufacturing, telecom, etc. Pure Skies works equally well for urban bodies and industrial clusters in solving air pollution challenges arising out of crop burning, forest fires, construction, industrial emissions, etc.
In a statement, the company said that the fresh funds will be utilised to expedite its growth, product roadmaps, and operational presence in global markets.
Its founder, Dr Srikanth Sola, is a globally eminent cardiologist, with a strong science and research background. He graduated from Stanford University and completed his medical training from institutes such as University of Louisville, Duke University, Harvard Medical School, and Emory University.
“We are excited to have Blue Ashva Capital invest in our company and share our vision and mission of providing pure air to families and businesses across the world,’’ said Dr Srikanth Sola, Founder and CEO of Devic Earth Pvt Ltd.
Blue Ashva Capital is an investment firm based out of Singapore and India, backing sustainable and profitable businesses that are solving real challenges in core sectors such as agriculture, decarbonisation, circular economy, and SMEs. It aims to nurture businesses by bringing capital, technology, and market linkages together.