Bengaluru-based D2C Startup WaterScience Raises Undisclosed Funding
WaterScience, a Bengaluru-based direct-to-consumer (D2C) startup, has raised an undisclosed amount from Velocity, a revenue-based financier.
With this funding, the Bengaluru-based startup is gearing up for its next leg of growth. As per the startup, the funds will be used for new product development and to boost digital marketing spends.
Started by Sudeep Nadukkandy, Mohammed Iqbal, and Pavithra Rao in 2014, WaterScience is a Bengaluru-based direct-to-consumer startup that manufactures filters that purify water for non-drinking use cases for the masses.
Speaking on the development, Sudeep Nadukkandy, Co-founder of WaterScience, said,
“We plan to use the funds from Velocity.in to acquire customers and build inventory. The first funding round helped us increase our revenues significantly despite the pandemic. We hope to take this number even higher and are targeting 35 crores this year with this round of financing.”
Before the pandemic, the startup used to generate around 5% of revenue via its own website, while the remaining was via marketplaces like Amazon. Now, backed by digital marketing, WaterScience has successfully increased its website sales to 30% of online revenues.
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