WaterScience aims to touch Rs.100-cr revenue
Bengaluru: Waterscience, a Bengaluru-based direct-to-consumer (D2C) startup that markets a range of water purification solutions, today announced that it expects to double its growth rate to touch revenues of Rs 100 crore in the next three years.
The company estimates the total addressable market for non-drinking water filters to be at $3 billion with bath filters accounting for $1.5 billion, appliance filters for $0.5 billion, and whole-house systems estimated at $500,000 million. Currently, about four lakh households use the company's products. "Access to safe water is essential to the health and wellbeing of the population," said Pavithra Rao, Cofounder of WaterScience. "While the drinking water market is growing at 21 per cent CAGR from 2018 to2023 and is at around 5,000 crore in 2022, we can expect the non-drinking water segment to grow at an exponential rate over the next few years as awareness grows. As water availability and quality get more challenging, point-of-use filters and water-saving devices will be as ubiquitous as drinking water filters."
"We've seen considerable demand, especially from metros such as Bangalore and the NCR region that have a higher percentage of urban population and a larger percentage of the population residing in apartment communities. Given that nearly 95 per cent of the water that is consumed is for non-drinking purposes like cleaning, bathing and laundry, finding ways to conserve water and find sustainable solutions is critical," she added.
Launched in 2016, WaterScience manufactures filters that purify water for non-drinking use cases, its offerings include a wide range of products such as filters for showers and taps, washing machines, kitchens, as well as main water lines. The company has raised funding from Velocity.in, a revenue-based financier and Aditya Somani, a veteran PE professional and angel investor.