Livpure Secure Rs 233 crore funding to Expand Category, Product, and Expand Market Presence
New Delhi: Livpure, a leading manufacturer of water purifiers and air conditioners, has secured a massive funding of Rs 208 crore ($25 million) from M&G Investments through its Catalyst investment strategy, and around Rs 25 crore ($3 million) from Ncubate Capital Partners.
Founded in 2012 by Rakesh Malhotra and Navneet Kapoor, Livpure offers a range of products such as water purifiers, subscription-based water purifiers, air coolers, kitchen appliances, mattresses, and sleep accessories. The company plans to use the proceeds from the funding to accelerate its category expansion, product development, and market presence to meet the evolving consumer needs in the home category.
The company has raised nearly $80 million to date, and its previous investors, Navodhyam Trust (owned by the founders), hold more than 50% stake in the company, while Lakshya Holding has an over 10% holding. Livpure competes with other venture capital-funded startups such as DrinkPrime, which recently raised $3 million led by SIDBI Venture Capital.
For the fiscal year ended in March 2023, Livpure registered a 35% growth in its operating revenue to Rs 294 crore, while its losses grew only 10% to Rs 48.62 crore. Water purifiers have been the key revenue driver for the company, accounting for more than 80% of its total collection. The company claims to have recorded a 45% growth across all business segments in the first quarter of the ongoing fiscal year (FY25).
