Chennai-based WEGoT raises $1.5 million to expand footprint across India

Strategic round was led by GRUHAS Proptech (promoted by Abhijeet Pai of Puzzolana Group, Nikhil Kamath of Zerodha), Rahul Talwar-DLF Family Office, Harshad Reddy-Apollo Hospitals Family

WEGoT, an IoT-based start-up delivering water management solutions, on Thursday announced a round of strategic funding of $1.5 million

The strategic round was led by GRUHAS Proptech (promoted by Abhijeet Pai of Puzzolana Group and Nikhil Kamath of Zerodha), Rahul Talwar - DLF Family Office, Harshad Reddy - Apollo Hospitals Family. The round also saw participation from WEGoT’s existing investors like HDFC Capital Advisory Ltd and the promoters of Prestige Group.

With the fundraise, WEGoT aims to strengthen its squad, expand its footprint pan-India, and enhance existing product capabilities. The company is looking to grow its team by recruiting across all functions to deliver this critical urban intervention at scale.

Since its inception, WEGoT has successfully implemented over 100,000 smart devices in over 30,000 homes and on over 40 million square feet of commercial real estate. It has plans to scale up to one million devices within the next 12 months. The company has effectively conserved over 3 billion litres of water till date and pledges to further save 10 billion litres in 2022.

“We are extremely fortunate to have raised capital from such industry leaders, who believe and support our vision for WEGoT. Coupled with their support and an easy to adopt solution, we are now poised for non-linear growth by delivering our solution in cities across India and substantially reducing their demand for water. We aim to help one million homes reduce their demand for water in the near term.” said Abilash Haridass, Co-Founder and chief executive officer, WEGoT Utility Solutions. 

“Over the years, we have witnessed that the perspective of leading commercial and residential real estate developers has evolved. They have realized the true potential of technology; and how it can ensure natural resources, such as water, when utilized efficiently, can help to reduce their operational cost and boost the bottom line.” added Abilash.

In a short time, WEGoT has gained clients like Prestige Group, Godrej Properties, Brigade Group, Mahindra World City, and Brookfield among others.  “Sustainability is not merely an ideology anymore. According to the United Nations, half of the world’s population could be living in areas facing water scarcity by 2025 and over 2 billion already live in countries where water supply is inadequate. Our IoT based water management has paved the way for managing and mitigating the growing crisis. Measured usage drives the awareness and has garnered the attention of multiple stakeholders in this ecosystem and it is gratifying to see inbound interest, both domestic and overseas, from developers and utilities. With this fundraise, we will scale our tech stack that will help to further decrease the demand for water in buildings” said Vijay Krishna, Co-Founder of WEGoT.