Cosmopolitan Gurgaon-located water e-shopping startup OWO Technologies on Monday announced that it has raised $3 million in seed funding from marquee investors. OWO is making its way into the online essential space of massive drinking water market by launching water as a service. The funding will be used to boost up its technology platform and start operations in cities like Delhi, Noida, Jaipur and Pune.
"India's water purifier market is predicted to grow at a CAGR of over 9% from FY 2020-21 to FY 2025-26," tells a report. In a short time watch of just 1 year, we have already established OWO as the most trustworthy micro delivery app in the highly competitive B2B e-shopping zone. The company has now entered the D2C model to deliver healthy water to every Indian household through a water subscription model, says CEO & Co- founder Ajay Changani.
With a disruptive business model, the startup uses cutting edge technologies to ensure that each glass of water consumed in every household is in its healthiest form. To bring in transparency, OWO Water App gives the customer live tracking and data of water quality glass wise they are consuming.
Through its ultra-modern WaaS (Water as a Service) offering, OWO makes safe water accessible with its pocket friendly subscription plan, which starts at INR 499/- and provides alkaline water with minerals to all. OWO App analyzes well water for contaminated particles, TDS level etc. The company installs water purifiers free of cost.
The purifier is connected to the customer's phone, allowing customers to check the water quality and TDS of drinking water in real time. It is a subscription-based service that will provide healthy water to every household in India. OWO focuses on the delivery of all essential products and services with the main focus on safe and healthy drinking water.
Prior to this funding round, in the beginning of February this year, OWO had raised Rs 1.5 crore in angel funding from ah! Ventures, other investors including Angel Platforms and Marwari Angels.