Smart water meter maker and IoT-enabled integrated water management startup WeGot has raised Rs 10.81 crore from a clutch of investors
WeGot provides IoT devices and softwares to track real time flow of water
WeGot, a manufacturer of smart water metres and an IoT-enabled integrated water management startup, has raised Rs 10.81 crore from a group of investors, including HDFC Capital. This would be the Chennai-based company’s second financing in 2021. In June, it raised Rs 8 crore from angel investors.
WeGot has raised Rs 10.81 crore by issuing 9,029 preference shares at an issue price of Rs 11,977 each. Gruhas Proptech led the round with a Rs 3.5 crore investment, while Rahul Talwar and Apollo Infrastructure each put in Rs 3 and Rs 1.99 crore. Guruhas is a prop-tech company founded by the same folks who founded Puzzolana and Zerodha.
Pratheeban Vivek Siddarth has put in Rs 1 crore and HDFC Capital has put in Rs 25 lakh. The remaining funds were invested by Joydeep Ponugoti, Rajat Fiscal Service, Razack Family Trust, and KVN Enterprise.
WeGot’s worth has risen 2.1X to Rs 205 crore, according to Fintrackr’s estimates, from Rs 98.5 crore in June.
Apart from water metres, WeGot offers Internet of Things (IoT) devices and software to track real-time water flow, reducing waste by 50%. In October of this year, it also raised $2 million in its first round.
