Gurugram-Based Water E-Commerce Start-up OwO Raises $3 Million in Funding Round
OwO, a water ecommerce firm based in Gurugram, has raised $3 million (INR 22.5 crore) in a seed fundraising round.
OwO is a direct-to-consumer (D2C) water supplier that offers drinking water, water purifiers, and packaged drinks to clients via its website. It was founded in 2020 by Ajay Changani. The company calls itself a water-as-a-service (WaaS) company. Its smartphone application allows consumers to live track the quality of the water they are drinking.
DivyaJaj, Bisleri, Himalayan, Aquafina, Bailey, and Kinley, as well as Coca-Cola, Pepsi, Tropicana, Parle, Red Bull, Catch, and others, have worked with the startup. OwO plans to invest the newly raised funds in expansion and product development.
Ajay Changani, cofounder and CEO of OwO stated, “we have now entered a D2C model to deliver the healthiest water to every Indian home through a water subscription model. With a disruptive business model, it uses technology to ensure that every glass of water consumed in every home is in its healthiest form.”
In 2018, the packaged drinking water business in India was valued at INR 16,000 Cr ($2.13 Billion), and it is expected to grow at a CAGR of 20.75% to INR 40,306 Cr ($5.38 Billion) by 2023. Based on the volume of water sold, the market is expected to reach 35.53 billion litres by 2023, growing at a CAGR of 18.25 % to 2023.
UNICEF estimates that less than half of Indians have access to safely regulated drinking water. More than 1.96 million families in the country use water that contains fluoride, arsenic, and other contaminants.
Furthermore, extreme water scarcity affects more than two-thirds of the country's districts. Because of the large-scale development of borewells and other drilling activities, India is acknowledged to be one of the region's largest consumers of groundwater. This has resulted in severe groundwater depletion.
OwO is a direct-to-consumer (D2C) water supplier that offers drinking water, water purifiers, and packaged drinks to clients via its website. It was founded in 2020 by Ajay Changani. The company calls itself a water-as-a-service (WaaS) company. Its smartphone application allows consumers to live track the quality of the water they are drinking.
DivyaJaj, Bisleri, Himalayan, Aquafina, Bailey, and Kinley, as well as Coca-Cola, Pepsi, Tropicana, Parle, Red Bull, Catch, and others, have worked with the startup. OwO plans to invest the newly raised funds in expansion and product development.
Ajay Changani, cofounder and CEO of OwO stated, “we have now entered a D2C model to deliver the healthiest water to every Indian home through a water subscription model. With a disruptive business model, it uses technology to ensure that every glass of water consumed in every home is in its healthiest form.”
In 2018, the packaged drinking water business in India was valued at INR 16,000 Cr ($2.13 Billion), and it is expected to grow at a CAGR of 20.75% to INR 40,306 Cr ($5.38 Billion) by 2023. Based on the volume of water sold, the market is expected to reach 35.53 billion litres by 2023, growing at a CAGR of 18.25 % to 2023.
UNICEF estimates that less than half of Indians have access to safely regulated drinking water. More than 1.96 million families in the country use water that contains fluoride, arsenic, and other contaminants.
Furthermore, extreme water scarcity affects more than two-thirds of the country's districts. Because of the large-scale development of borewells and other drilling activities, India is acknowledged to be one of the region's largest consumers of groundwater. This has resulted in severe groundwater depletion.
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